Tempur Sealy International Inc (TPX) is Downgraded by Wedbush to Neutral, Price Target at $58

Tempur Sealy International Inc (TPX) was Downgraded by Wedbush to ” Neutral” and the brokerage firm has set the Price Target at $58. Earlier the firm had a rating of “Outperform ” on the company shares. Wedbush advised their investors in a research report released on Apr 22, 2016.

Many Wall Street Analysts have commented on Tempur Sealy International Inc. Tempur Sealy International Inc was Initiated by Longbow to “Buy” on Mar 15, 2016. Shares were Reiterated by Wedbush on Jan 27, 2016 to “Outperform” and Lowered the Price Target to $ 75 from a previous price target of $90 .

On the company’s financial health, Tempur Sealy International Inc reported $0.99 EPS for the quarter, based on the information available during the earnings call on Feb 4, 2016. Analyst had a consensus estimate of $0.99. The company had revenue of $767.30 million for the quarter, compared to analysts expectations of $786.02 million. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS.

Tempur Sealy International Inc opened for trading at $60.5 and hit $61.81 on the upside on Wednesday, eventually ending the session at $60.71, with a gain of 0.65% or 0.39 points. The heightened volatility saw the trading volume jump to 13,02,425 shares. Company has a market cap of $3,790 M.

In a different news, on Mar 21, 2016, Lou H Jones (EVP, GC & SECRETARY) sold 7,253 shares at $63.00 per share price. According to the SEC, on Mar 15, 2016, Richard W Anderson (EVP & President North America) purchased 17,430 shares at $57.31 per share price. On Mar 15, 2016, Scott L Thompson (CEO) purchased 35,000 shares at $57.90 per share price, according to the Form-4 filing with the securities and exchange commission.

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. The Company sells its products through three distribution channels in each operating business segment: Retail which consists of furniture and bedding retailers department stores specialty retailers and warehouse clubs; Direct which consists of electronic commerce (e-commerce) platform Company-owned stores and call center and Other which includes third party distributors hospitality and healthcare customers.

Tempur Sealy International Inc

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