Tempur Sealy International (NYSE:TPX) Downgraded by Wedbush

Wedbush cut shares of Tempur Sealy International (NYSE:TPX) from an outperform rating to a neutral rating in a research report report published on Wednesday morning, Marketbeat Ratings reports. Wedbush currently has $52.00 target price on the stock.

Several other brokerages have also issued reports on TPX. Truist Financial dropped their target price on shares of Tempur Sealy International from $65.00 to $58.00 and set a buy rating on the stock in a research report on Wednesday, July 10th. Piper Sandler reiterated an overweight rating and issued a $61.00 price objective on shares of Tempur Sealy International in a report on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $59.71.

Tempur Sealy International Stock Performance

NYSE TPX opened at $49.52 on Wednesday. The stock has a market capitalization of $8.60 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 2.16 and a beta of 1.59. The stock has a 50-day moving average of $50.28 and a 200 day moving average of $51.18. The company has a current ratio of 1.21, a quick ratio of 0.68 and a debt-to-equity ratio of 5.92. Tempur Sealy International has a twelve month low of $36.12 and a twelve month high of $57.13.

Tempur Sealy International (NYSE:TPX) last announced its earnings results on Tuesday, August 6th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). Tempur Sealy International had a return on equity of 135.46% and a net margin of 7.65%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company earned $0.58 earnings per share. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. Sell-side analysts anticipate that Tempur Sealy International will post 2.53 EPS for the current fiscal year.

Tempur Sealy International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Thursday, August 15th. Tempur Sealy International’s dividend payout ratio (DPR) is 25.74%.

Institutional Investors Weigh In On Tempur Sealy International

Large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new position in Tempur Sealy International during the first quarter worth $26,000. Rise Advisors LLC purchased a new position in shares of Tempur Sealy International during the 1st quarter worth $27,000. Principal Securities Inc. acquired a new position in shares of Tempur Sealy International during the 4th quarter valued at about $40,000. Signaturefd LLC boosted its position in shares of Tempur Sealy International by 35.1% during the 2nd quarter. Signaturefd LLC now owns 981 shares of the company’s stock valued at $46,000 after acquiring an additional 255 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Tempur Sealy International in the second quarter valued at about $56,000. 99.86% of the stock is currently owned by hedge funds and other institutional investors.

About Tempur Sealy International

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.