Tempur-Pedic International (NYSE:TPX)‘s stock had its “buy” rating reiterated by analysts at Stifel Nicolaus in a research report issued to clients and investors on Thursday, Analyst Ratings Network reports. They currently have a $52.00 price objective on the stock, up from their previous price objective of $48.00. Stifel Nicolaus’ target price suggests a potential upside of 29.64% from the stock’s previous close.
The analysts wrote, “Investors have long been keeping Tempur Sealy’s stock in the penalty box, waiting for a turnaround in the Tempur North American business. The company finally gave the Street something to cheer about in the third quarter, with the Tempur North America retail business being up 2.4%, compared to the prior year. Management expects that business to be flat to up slightly in the fourth quarter as well, which is encouraging, given we believe the industry slowed down in late-September/early-October.”
Several other analysts have also recently commented on the stock. Analysts at KeyCorp cut their price target on shares of Tempur-Pedic International from $53.00 to $50.00 in a research note to investors on Friday, November 1st. They now have a “buy” rating on the stock. Separately, analysts at Standpoint Research downgraded shares of Tempur-Pedic International from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, October 1st. Finally, analysts at Zacks upgraded shares of Tempur-Pedic International from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, September 26th. They now have a $45.10 price target on the stock. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Tempur-Pedic International has an average rating of “Hold” and an average price target of $49.18.
Tempur-Pedic International (NYSE:TPX) traded up 15.91% on Thursday, hitting $46.49. 1,783,108 shares of the company’s stock traded hands. Tempur-Pedic International has a 1-year low of $24.02 and a 1-year high of $51.02. The stock has a 50-day moving average of $41.58 and a 200-day moving average of $42.59. The company has a market cap of $2.810 billion and a P/E ratio of 74.69. Tempur-Pedic International also saw some unusual options trading activity on Wednesday. Investors bought 31,603 call options on the stock. This represents an increase of approximately 859% compared to the typical volume of 3,296 call options.
Tempur-Pedic International (NYSE:TPX) last released its earnings data on Wednesday, November 6th. The company reported $0.73 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.68 by $0.05. The company had revenue of $735.50 million for the quarter, compared to the consensus estimate of $709.91 million. During the same quarter in the previous year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was up 111.4% on a year-over-year basis. Analysts expect that Tempur-Pedic International will post $2.32 EPS for the current fiscal year.
Tempur Sealy International, Inc, formerly Tempur-Pedic International Inc, is a manufacturer, marketer and distributor of premium mattresses and pillows, which it sells in approximately 80 countries under the TEMPUR and Tempur-Pedic brands.
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