Wedbush Downgrades Tempur Sealy International (NYSE:TPX) to Neutral

Tempur Sealy International (NYSE:TPX) was downgraded by analysts at Wedbush from an “outperform” rating to a “neutral” rating in a research note issued to investors on Wednesday, MarketBeat reports. They currently have a $52.00 price target on the stock. Wedbush’s price objective points to a potential upside of 3.69% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Piper Sandler reissued an “overweight” rating and set a $61.00 price objective on shares of Tempur Sealy International in a research note on Wednesday, July 3rd. Truist Financial reduced their target price on Tempur Sealy International from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.71.

Tempur Sealy International Price Performance

Shares of NYSE:TPX opened at $50.15 on Wednesday. The business has a fifty day simple moving average of $50.24 and a 200-day simple moving average of $51.19. Tempur Sealy International has a 52 week low of $36.12 and a 52 week high of $57.13. The company has a market cap of $8.71 billion, a P/E ratio of 24.83, a P/E/G ratio of 2.24 and a beta of 1.60. The company has a quick ratio of 0.68, a current ratio of 1.21 and a debt-to-equity ratio of 5.92.

Tempur Sealy International (NYSE:TPX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Tempur Sealy International had a net margin of 7.65% and a return on equity of 135.46%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the company earned $0.58 EPS. The company’s revenue was down 2.8% compared to the same quarter last year. Equities research analysts forecast that Tempur Sealy International will post 2.53 EPS for the current year.

Hedge Funds Weigh In On Tempur Sealy International

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Tempur Sealy International during the fourth quarter worth $121,329,000. Darsana Capital Partners LP lifted its holdings in Tempur Sealy International by 40.0% in the 2nd quarter. Darsana Capital Partners LP now owns 7,000,000 shares of the company’s stock worth $331,380,000 after buying an additional 2,000,000 shares in the last quarter. Eminence Capital LP boosted its position in Tempur Sealy International by 61.6% in the 2nd quarter. Eminence Capital LP now owns 2,249,222 shares of the company’s stock valued at $106,478,000 after buying an additional 857,478 shares during the last quarter. Browning West LP grew its stake in shares of Tempur Sealy International by 7.0% during the fourth quarter. Browning West LP now owns 12,611,189 shares of the company’s stock valued at $642,792,000 after acquiring an additional 820,200 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Tempur Sealy International during the second quarter worth about $37,278,000. Hedge funds and other institutional investors own 99.86% of the company’s stock.

Tempur Sealy International Company Profile

Tempur Sealy International, Inc, together with its subsidiaries, designs, manufactures, distributes, and retails bedding products in the United States and internationally. It provides mattresses, foundations and adjustable foundations, and adjustable bases, as well as other products comprising pillows, mattress covers, sheets, cushions, and various other accessories and comfort products under the Tempur-Pedic, Sealy, Stearns & Foster, Sealy, and Cocoon by Sealy brand names.