Tempur Sealy International (NYSE:TPX) Sets New 52-Week High Following Strong Earnings

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Tempur Sealy International Inc (NYSE:TPX)’s share price reached a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $100.30 and last traded at $97.58, with a volume of 90986 shares traded. The stock had previously closed at $94.65.

The company reported $1.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.20. Tempur Sealy International had a return on equity of 70.52% and a net margin of 5.35%. The business had revenue of $871.30 million during the quarter, compared to analyst estimates of $774.15 million. During the same quarter in the prior year, the business posted $0.90 EPS. Tempur Sealy International’s revenue for the quarter was up 28.9% compared to the same quarter last year.

Several research firms have commented on TPX. KeyCorp increased their price objective on shares of Tempur Sealy International from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Loop Capital reissued a “positive” rating and set a $100.00 price objective on shares of Tempur Sealy International in a report on Friday. They noted that the move was a valuation call. Piper Jaffray Companies reissued a “buy” rating and set a $112.00 price objective on shares of Tempur Sealy International in a report on Friday, December 13th. UBS Group set a $92.00 price objective on shares of Tempur Sealy International and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Raymond James increased their price objective on shares of Tempur Sealy International from $105.00 to $110.00 and gave the company a “strong-buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $103.64.

In related news, Director Robert B. Trussell, Jr. sold 10,510 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $84.87, for a total value of $891,983.70. Following the completion of the transaction, the director now owns 17,201 shares of the company’s stock, valued at approximately $1,459,848.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Evelyn S. Dilsaver sold 361 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $84.73, for a total transaction of $30,587.53. Following the completion of the transaction, the director now directly owns 27,747 shares of the company’s stock, valued at approximately $2,351,003.31. The disclosure for this sale can be found here. Insiders have sold a total of 11,059 shares of company stock valued at $939,166 in the last three months. Insiders own 3.23% of the company’s stock.

Several large investors have recently made changes to their positions in TPX. Wedge Capital Management L L P NC bought a new position in shares of Tempur Sealy International in the 3rd quarter valued at about $33,742,000. Pragma Gestao DE Patrimonio Ltd. bought a new position in shares of Tempur Sealy International in the 4th quarter valued at about $17,395,000. Point72 Asset Management L.P. lifted its holdings in shares of Tempur Sealy International by 26.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 945,574 shares of the company’s stock valued at $72,998,000 after acquiring an additional 194,878 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Tempur Sealy International by 19.7% in the 4th quarter. Bank of America Corp DE now owns 998,571 shares of the company’s stock valued at $86,935,000 after acquiring an additional 164,369 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Tempur Sealy International by 164.8% in the 4th quarter. Renaissance Technologies LLC now owns 249,472 shares of the company’s stock valued at $21,719,000 after acquiring an additional 155,272 shares during the last quarter. 99.43% of the stock is owned by hedge funds and other institutional investors.

The company has a quick ratio of 0.81, a current ratio of 1.13 and a debt-to-equity ratio of 5.04. The firm has a market cap of $4.89 billion, a P/E ratio of 34.50, a P/E/G ratio of 0.62 and a beta of 1.67. The company’s 50 day simple moving average is $88.97 and its 200-day simple moving average is $82.79.

Tempur Sealy International Company Profile (NYSE:TPX)

Tempur Sealy International, Inc develops, manufactures, markets and distributes bedding products. It operates through North America and International segments. The North America segment consists of Tempur and Sealy manufacturing and distribution subsidiaries, joint ventures and licensees located in the U.S.

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