UBS Cuts Estimates and Price Target on Mattress Firm Holding Corp. (MFRM); Might Need Some Tylenol PM
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Price: $38.21 +1.62%
Rating Summary:
8 Buy, 1 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 24 | New: 24
Rating Summary:
8 Buy, 1 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 24 | New: 24
Trade MFRM Now!
UBS maintains a 'Buy' on Mattress Firm Holding Corp. (NASDAQ: MFRM) price target of $37.00 (from $50.00).
Analyst, Michael Lasser, said, "Mattres Firm’s update which discussed slower than expected sales trends adds to a litany of cautionary signs about recent consumer spending (ranging from hhgregg's (NYSE: HGG) and O'Reilly (Nasdaq: ORLY) preannouncements to the soft Census Bureau retail sales). There was added pressure for MFRM from Tempur-Pedic's (NYSE: TPX) promotional activities, which crimped its AUP for at least part of the recent quarter. Now, management’s credibility has taken a hit by not recognizing these as possibilities when it reported just over a month ago. Even so, the shares offer an inexpensive valuation for a growth retailer."
FY13 EPS estimate cut from $1.50 to $1.48 and FY14 from $2.15 to $2.05.
For an analyst ratings summary and ratings history on Mattress Firm Holding Corp. click here. For more ratings news on Mattress Firm Holding Corp. click here.
Shares of Mattress Firm Holding Corp. closed at $29.77 yesterday, with a 52 week range of $21.03-$48.18.
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Analyst, Michael Lasser, said, "Mattres Firm’s update which discussed slower than expected sales trends adds to a litany of cautionary signs about recent consumer spending (ranging from hhgregg's (NYSE: HGG) and O'Reilly (Nasdaq: ORLY) preannouncements to the soft Census Bureau retail sales). There was added pressure for MFRM from Tempur-Pedic's (NYSE: TPX) promotional activities, which crimped its AUP for at least part of the recent quarter. Now, management’s credibility has taken a hit by not recognizing these as possibilities when it reported just over a month ago. Even so, the shares offer an inexpensive valuation for a growth retailer."
FY13 EPS estimate cut from $1.50 to $1.48 and FY14 from $2.15 to $2.05.
For an analyst ratings summary and ratings history on Mattress Firm Holding Corp. click here. For more ratings news on Mattress Firm Holding Corp. click here.
Shares of Mattress Firm Holding Corp. closed at $29.77 yesterday, with a 52 week range of $21.03-$48.18.
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