Stock Traders Purchase Large Volume of Tempur Sealy International Put Options (NYSE:TPX)

Tempur Sealy International, Inc. (NYSE:TPX) was the recipient of some unusual options trading activity on Tuesday. Investors acquired 8,790 put options on the company. This represents an increase of approximately 334% compared to the average daily volume of 2,026 put options.

Tempur Sealy International Price Performance

Tempur Sealy International stock opened at $52.07 on Wednesday. Tempur Sealy International has a 1 year low of $34.98 and a 1 year high of $57.13. The firm has a 50 day moving average price of $52.83 and a 200 day moving average price of $48.71. The company has a market cap of $9.04 billion, a price-to-earnings ratio of 25.15, a PEG ratio of 1.17 and a beta of 1.58. The company has a debt-to-equity ratio of 7.81, a quick ratio of 0.68 and a current ratio of 1.21.

Tempur Sealy International (NYSE:TPX) last issued its earnings results on Thursday, February 8th. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). Tempur Sealy International had a return on equity of 239.67% and a net margin of 7.47%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the firm posted $0.54 EPS. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. Sell-side analysts predict that Tempur Sealy International will post 2.75 earnings per share for the current year.

Tempur Sealy International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Thursday, February 22nd were issued a $0.13 dividend. This is an increase from Tempur Sealy International’s previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Wednesday, February 21st. Tempur Sealy International’s dividend payout ratio is currently 25.12%.

Analysts Set New Price Targets

Several research firms have issued reports on TPX. Wedbush restated an “outperform” rating and issued a $66.00 price objective on shares of Tempur Sealy International in a research note on Tuesday, April 30th. Raymond James raised their price objective on shares of Tempur Sealy International from $45.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Friday, January 19th. Piper Sandler raised Tempur Sealy International from a “neutral” rating to an “overweight” rating and raised their price target for the company from $41.00 to $61.00 in a report on Thursday, January 18th. KeyCorp raised their price objective on shares of Tempur Sealy International from $56.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Finally, Truist Financial lifted their price target on shares of Tempur Sealy International from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, April 5th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $62.71.

Institutional Investors Weigh In On Tempur Sealy International

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new stake in Tempur Sealy International in the first quarter valued at approximately $26,000. Rise Advisors LLC acquired a new stake in Tempur Sealy International in the first quarter valued at $27,000. Principal Securities Inc. acquired a new position in Tempur Sealy International in the fourth quarter worth about $40,000. Fifth Third Bancorp raised its position in shares of Tempur Sealy International by 37.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,537 shares of the company’s stock valued at $67,000 after acquiring an additional 421 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Tempur Sealy International by 4,996.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,376 shares of the company’s stock worth $70,000 after purchasing an additional 1,349 shares during the period. 99.86% of the stock is currently owned by hedge funds and other institutional investors.

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.