Tempur Sealy International Inc. (TPX) Sees Large Volume Increase
Tempur Sealy International Inc. (NYSE:TPX) shares saw unusually-high trading volume on Tuesday . Approximately 881,573 shares traded hands during trading, an increase of 14% from the previous session’s volume of 776,374 shares.The stock last traded at $75.63 and had previously closed at $78.02.
TPX has been the topic of several research reports. Piper Jaffray Cos. reissued an “overweight” rating and set a $84.00 target price on shares of Tempur Sealy International in a research note on Tuesday, August 2nd. Bank of America Corp. restated a “buy” rating on shares of Tempur Sealy International in a report on Sunday, May 22nd. Nomura upped their price target on Tempur Sealy International from $82.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Stifel Nicolaus upped their price target on Tempur Sealy International from $67.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Finally, Topeka Capital Markets began coverage on Tempur Sealy International in a report on Monday, May 23rd. They set a “hold” rating and a $61.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $76.90.
The stock has a market cap of $4.41 billion, a PE ratio of 52.60 and a beta of 1.90. The stock has a 50-day moving average price of $77.01 and a 200-day moving average price of $63.57.
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Tempur Sealy International (NYSE:TPX) last issued its earnings results on Thursday, July 28th. The company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.23. Tempur Sealy International had a return on equity of 92.29% and a net margin of 2.83%. The firm had revenue of $804.40 million for the quarter, compared to analysts’ expectations of $786.12 million. During the same quarter last year, the firm earned $0.53 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts expect that Tempur Sealy International Inc. will post $4.18 earnings per share for the current fiscal year.
In related news, CMO Jay G. Spenchian acquired 7,000 shares of Tempur Sealy International stock in a transaction on Wednesday, June 15th. The shares were bought at an average price of $58.37 per share, for a total transaction of $408,590.00. Following the completion of the purchase, the chief marketing officer now directly owns 15,800 shares in the company, valued at approximately $922,246. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lou H. Jones sold 27,200 shares of the business’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $74.49, for a total value of $2,026,128.00. Following the transaction, the executive vice president now owns 53,675 shares in the company, valued at approximately $3,998,250.75. The disclosure for this sale can be found here. 3.04% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of TPX. BlueMountain Capital Management LLC boosted its position in shares of Tempur Sealy International by 5,537.4% in the second quarter. BlueMountain Capital Management LLC now owns 1,173,987 shares of the company’s stock worth $64,945,000 after buying an additional 1,153,162 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Tempur Sealy International by 9,295.5% in the second quarter. Thrivent Financial for Lutherans now owns 768,550 shares of the company’s stock valued at $42,516,000 after buying an additional 760,370 shares during the period. State Street Corp boosted its position in Tempur Sealy International by 24.6% in the second quarter. State Street Corp now owns 3,482,126 shares of the company’s stock valued at $192,639,000 after buying an additional 687,465 shares during the period. Timucuan Asset Management Inc. FL boosted its position in Tempur Sealy International by 74.1% in the second quarter. Timucuan Asset Management Inc. FL now owns 1,482,945 shares of the company’s stock valued at $82,037,000 after buying an additional 631,167 shares during the period. Finally, Clearline Capital LP acquired a new position in Tempur Sealy International during the second quarter valued at approximately $31,395,000.
About Tempur Sealy International
Tempur Sealy International, Inc is a bedding provider. The Company develops, manufactures, markets and distributes bedding products, which it sells globally in approximately 100 countries. The Company operates in three segments: Tempur North America, Tempur International and Sealy. The Company’s brand portfolio includes TEMPUR, Tempur-Pedic, Sealy, Sealy Posturepedic, Optimum and Stearns & Foster.
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