Standpoint Research Downgrades Tempur-Pedic (TPX) to Hold; Moving To Sidelines
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Price: $48.55 -2%
Rating Summary:
11 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
11 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Standpoint Research downgraded Tempur-Pedic (NYSE: TPX) from Buy to Hold.
Analyst, Ronnie Moas, said, "TPX shares have jumped 19.2% and are ahead of the S&P-500 by 870 bps since our November 28 recommendation. The shares are now showing relative strength at 80/100...a bit lower than where we usually exit and NOT quite at a level where we would consider it a market over-reaction to good news and NOT quite near-term over-bought condition. That being said, the company does report quarterly earnings tomorrow...short interest is high and there has been some bearish options activity."
"The shares are now within $5 of the price target we set for 2012 and we think it is best to watch this from the sidelines. This completes our third round trip in this name. We registered significant and absolute gains on all three trades and would think about entering for a fourth time on a correction to the high $40s or low $50s. On an annualized basis, the gains were more impressive as we were never in the name for more than two months on any of the three trades. In fact on the first two trades we were not even in the name for one month."
For an analyst ratings summary and ratings history on Tempur-Pedic click here. For more ratings news on Tempur-Pedic click here.
Shares of Tempur-Pedic closed at $61.21 yesterday.
Analyst, Ronnie Moas, said, "TPX shares have jumped 19.2% and are ahead of the S&P-500 by 870 bps since our November 28 recommendation. The shares are now showing relative strength at 80/100...a bit lower than where we usually exit and NOT quite at a level where we would consider it a market over-reaction to good news and NOT quite near-term over-bought condition. That being said, the company does report quarterly earnings tomorrow...short interest is high and there has been some bearish options activity."
"The shares are now within $5 of the price target we set for 2012 and we think it is best to watch this from the sidelines. This completes our third round trip in this name. We registered significant and absolute gains on all three trades and would think about entering for a fourth time on a correction to the high $40s or low $50s. On an annualized basis, the gains were more impressive as we were never in the name for more than two months on any of the three trades. In fact on the first two trades we were not even in the name for one month."
For an analyst ratings summary and ratings history on Tempur-Pedic click here. For more ratings news on Tempur-Pedic click here.
Shares of Tempur-Pedic closed at $61.21 yesterday.
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