Tempur Sealy International (NYSE:TPX) Reaches New 52-Week High After Analyst Upgrade

Tempur Sealy International, Inc. (NYSE:TPX) hit a new 52-week high during trading on Wednesday after Truist Financial raised their price target on the stock from $63.00 to $69.00. Truist Financial currently has a buy rating on the stock. Tempur Sealy International traded as high as $61.89 and last traded at $61.26, with a volume of 137512 shares. The stock had previously closed at $60.62.

Several other equities analysts also recently commented on TPX. Raymond James dropped their price objective on shares of Tempur Sealy International from $57.00 to $55.00 and set a “strong-buy” rating for the company in a research note on Friday, November 1st. Wedbush increased their price target on Tempur Sealy International from $49.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Bank of America upped their price objective on Tempur Sealy International from $60.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $63.14.

Hedge Funds Weigh In On Tempur Sealy International

Institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. raised its stake in Tempur Sealy International by 750.9% during the 3rd quarter. UMB Bank n.a. now owns 468 shares of the company’s stock worth $26,000 after buying an additional 413 shares during the period. Brooklyn Investment Group bought a new position in shares of Tempur Sealy International in the third quarter valued at $27,000. Versant Capital Management Inc increased its position in shares of Tempur Sealy International by 365.2% during the fourth quarter. Versant Capital Management Inc now owns 614 shares of the company’s stock worth $35,000 after acquiring an additional 482 shares in the last quarter. Truvestments Capital LLC bought a new stake in Tempur Sealy International during the 3rd quarter worth approximately $48,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Tempur Sealy International by 38.1% in the third quarter. Farther Finance Advisors LLC now owns 1,509 shares of the company’s stock worth $82,000 after purchasing an additional 416 shares during the last quarter. 99.86% of the stock is owned by institutional investors and hedge funds.

Tempur Sealy International Trading Up 1.1 %

The stock has a market capitalization of $10.64 billion, a PE ratio of 28.09, a P/E/G ratio of 1.94 and a beta of 1.63. The company has a quick ratio of 0.65, a current ratio of 1.14 and a debt-to-equity ratio of 3.95. The firm has a 50 day moving average price of $56.61 and a 200 day moving average price of $53.24.

Tempur Sealy International (NYSE:TPX) last posted its earnings results on Thursday, November 7th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.01. Tempur Sealy International had a net margin of 7.96% and a return on equity of 108.66%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the business posted $0.77 EPS. The business’s revenue was up 1.8% compared to the same quarter last year. Equities analysts expect that Tempur Sealy International, Inc. will post 2.52 EPS for the current fiscal year.

Tempur Sealy International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 21st were paid a dividend of $0.13 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.85%. Tempur Sealy International’s payout ratio is 23.74%.

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.