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Tempur Sealy International, Inc. (TPX) develops, manufactures, markets, and distributes bedding products.
The company operates through two segments, North America and International.
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, Tempur-Pedic, Sealy, and Stearns & Foster brands.
The company sells its products through third party retailers, including third party distribution, hospitality, and healthcare; and company-owned stores, e-commerce, and call centers, as well as offers Cocoon by Sealy branded products through online.
It is also involved in licensing its Sealy, and Stearns & Foster brands, technology, and trademarks to other manufacturers.
Shares have formed a bullish "wedge" following the company's latest quarterly report. On July 25th, it reported 2nd Quarter June 2019 earnings of $0.79 per share on revenue of $722.8 million. The consensus earnings estimate was $0.68 per share on revenue of $721.4 million. Revenue grew 7.9% on a year-over-year basis.
The company said it now expects 2019 Adjusted EBITDA of $450.0 million to $480.0 million. The company's previous guidance was Adjusted EBITDA of $435.0 million to $475.0 million for the year ending December 31, 2019. Higher share prices are expected.
Entry Point: $74.75
Trading Range: $38.90 to $81.85
Stop Loss: $71.00
Target Price: $82.25
TPX closed at $77.75
