UPDATE: Barclays Starts Sealy (ZZ) at Underweight; Spring Mattress?...No, I Use Year Round
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Price: $2.19 --0%
Rating Summary:
0 Buy, 2 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 13 | New: 19
Rating Summary:
0 Buy, 2 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 13 | New: 19
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(Updated - August 14, 2012 2:17 PM EDT)
Barclays initiates coverage on Sealy (NYSE: ZZ) with an Underweight. PT $2.00.
Analyst, Jessica Schoen, doesn't recommend shorting the stock at this point, but notes that the U.S. mattress wholesale industry has rebounded from recession and in 2010/11 the industry grew by mid-to-high single digits, while ZZ only grew 0.4% and 0.1%. Lagging growth along with loss in market share in a very competitive market with well known brands like (Serta and Simmons) leads to Underweight.
In ZZ's defense, the company has recognized the issues and has taken encouraging actions to increase itself in higher growth markets...however, this will take time.
For an analyst ratings summary and ratings history on Sealy click here. For more ratings news on Sealy click here.
Shares of Sealy closed at $1.72 yesterday.
Barclays initiates coverage on Sealy (NYSE: ZZ) with an Underweight. PT $2.00.
Analyst, Jessica Schoen, doesn't recommend shorting the stock at this point, but notes that the U.S. mattress wholesale industry has rebounded from recession and in 2010/11 the industry grew by mid-to-high single digits, while ZZ only grew 0.4% and 0.1%. Lagging growth along with loss in market share in a very competitive market with well known brands like (Serta and Simmons) leads to Underweight.
In ZZ's defense, the company has recognized the issues and has taken encouraging actions to increase itself in higher growth markets...however, this will take time.
For an analyst ratings summary and ratings history on Sealy click here. For more ratings news on Sealy click here.
Shares of Sealy closed at $1.72 yesterday.
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