Longbow Research reiterated their buy rating on shares of Tempur-Pedic International (NYSE:TPX) in a research report sent to investors on Thursday morning, Stock Ratings News reports. The firm currently has a $53.00 price target on the stock, up from their previous price target of $46.00.
“TPX reported 3Q13 adjusted EPS of $0.73 on $736M in revenue, beating consensus EPS of $0.68 and consensus revenue of $710M. We were looking for an EPS of $0.71 on revenue of $718M. Guidance was reiterated at $2.425B to $2.450B in revenue and adjusted EPS guidance of $2.25 to $2.40. Sales of mattresses above $2K more than offset by a decline in mattress sales below $2K, resulting in an overall ASP increase of ~4%. Importantly, mattresses priced $2K and up improved q/q while mattresses priced below $2K were less negative. From what we gather, Tempur will promote some of its mattresses over Black Friday and hope to repeat some of the success it found over Labor Day.,” Longbow Research’s analyst commented.
TPX has been the subject of a number of other recent research reports. Analysts at Stifel Nicolaus reiterated a buy rating on shares of Tempur-Pedic International in a research note to investors on Thursday. They now have a $52.00 price target on the stock, up previously from $48.00. Separately, 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. Finally, 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. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $49.73.
Tempur-Pedic International (NYSE:TPX) traded up 0.29% during mid-day trading on Thursday, hitting $45.01. 407,509 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’s 50-day moving average is $41.58 and its 200-day moving average is $42.59. The company has a market cap of $2.721 billion and a P/E ratio of 83.58.
Tempur-Pedic International (NYSE:TPX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters 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. On average, analysts predict that Tempur-Pedic International will post $2.33 earnings per share 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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