Wedbush Starts Mattress Firm Holding Corp. (MFRM) at Outperform; Superior Operator
Tweet Send to a FriendGet Alerts MFRM Hot Sheet
Price: $36.13 +1.40%
Rating Summary:
8 Buy, 1 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
8 Buy, 1 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade MFRM Now!
Wedbush initiates coverage on Mattress Firm Holding Corp. (NASDAQ: MFRM) with an Outperform. PT $44.00.
Analyst, Joan Storms, said, "We view Mattress Firm as a superior operator in the retail mattress industry. The company has developed a very professional approach to selling mattresses in a highly fragmented market, primarily due to a very experienced management team. The combination of an attractive store format carrying the best brands and superior customer service has resulted in strong relative market share and increased profitability, with more to come as the company approaches a “tipping point” in many markets. Currently, the company estimates it is the market leader in about 78% of its existing markets."
Storms also noted that Mattress Firm currently operates approx. 1,000 stores in 27 states, and believes the company can meet its goal of 2,500 stores in the next five years. Wedbush has established FY12 EPS estimate of $1.52 (vs. $1.50 consensus) and FY13 at $2.20 (vs. $2.15 consensus)
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 $34.35 yesterday, with a 52 week range of $21.03-$48.18.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Joan Storms, said, "We view Mattress Firm as a superior operator in the retail mattress industry. The company has developed a very professional approach to selling mattresses in a highly fragmented market, primarily due to a very experienced management team. The combination of an attractive store format carrying the best brands and superior customer service has resulted in strong relative market share and increased profitability, with more to come as the company approaches a “tipping point” in many markets. Currently, the company estimates it is the market leader in about 78% of its existing markets."
Storms also noted that Mattress Firm currently operates approx. 1,000 stores in 27 states, and believes the company can meet its goal of 2,500 stores in the next five years. Wedbush has established FY12 EPS estimate of $1.52 (vs. $1.50 consensus) and FY13 at $2.20 (vs. $2.15 consensus)
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 $34.35 yesterday, with a 52 week range of $21.03-$48.18.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Deutsche Bank Resumes CenterPoint Energy (CNP) at Hold
- Janney Capital Boosts PT on Gap (GPS) Post Q1
- Topeka Capital Starts Cavium Networks (CAVM) at Hold
Create E-mail Alert Related Categories
New Coverage
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
