Tempur Sealy International, Inc. (NYSE:TPX) shares gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $61.80, but opened at $61.40. Tempur Sealy International shares last traded at $58.46, with a volume of 690,985 shares traded.
The company reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.05. Tempur Sealy International had a return on equity of 617.75% and a net margin of 6.69%. The business had revenue of $659.30 million during the quarter, compared to analyst estimates of $661.65 million. During the same quarter last year, the business posted $0.92 EPS. The company’s revenue was down 18.0% on a year-over-year basis.
Several equities analysts recently weighed in on the company. Raymond James Financial, Inc. restated a “strong-buy” rating and issued a $55.00 price target on shares of Tempur Sealy International in a research note on Wednesday, June 28th. BidaskClub upgraded Tempur Sealy International from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Zacks Investment Research cut Tempur Sealy International from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 20th. Piper Jaffray Companies set a $61.00 price objective on Tempur Sealy International and gave the stock a “hold” rating in a report on Thursday, July 27th. Finally, KeyCorp reiterated an “equal weight” rating on shares of Tempur Sealy International in a report on Thursday, April 20th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $58.80.
In other news, Director Usman Nabi bought 610,000 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were bought at an average price of $48.30 per share, with a total value of $29,463,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Rehan Jaffer bought 220,635 shares of the business’s stock in a transaction on Tuesday, May 9th. The stock was purchased at an average cost of $48.40 per share, for a total transaction of $10,678,734.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 1,922,750 shares of company stock worth $92,080,731. Corporate insiders own 2.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in shares of Tempur Sealy International by 14.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,131 shares of the company’s stock worth $100,000 after buying an additional 273 shares during the last quarter. Sei Investments Co. raised its stake in shares of Tempur Sealy International by 23.1% in the second quarter. Sei Investments Co. now owns 2,247 shares of the company’s stock worth $120,000 after buying an additional 421 shares during the last quarter. NEXT Financial Group Inc raised its stake in Tempur Sealy International by 9,500.0% in the second quarter. NEXT Financial Group Inc now owns 2,400 shares of the company’s stock worth $128,000 after buying an additional 2,375 shares in the last quarter. Blueport Capital L.P. raised its stake in Tempur Sealy International by 41.2% in the first quarter. Blueport Capital L.P. now owns 3,026 shares of the company’s stock worth $141,000 after buying an additional 883 shares in the last quarter. Finally, James Investment Research Inc. bought a new stake in Tempur Sealy International during the second quarter worth $183,000.
The company has a market cap of $3.21 billion, a price-to-earnings ratio of 16.80 and a beta of 1.67. The firm has a 50 day moving average price of $52.90 and a 200-day moving average price of $48.90.
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Tempur Sealy International Company Profile
Tempur Sealy International, Inc is a bedding manufacturer. The Company develops, manufactures, markets and distributes bedding products. The Company operates in two segments: North America and International. The North America segment consists of Tempur and Sealy manufacturing and distribution subsidiaries, joint ventures and licensees located in the United States and Canada.
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