Barclays Maintains an 'Overweight' on Mattress Firm Holding (MFRM); Q1 Preview
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Price: $64.02 --0%
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Overweight' on Mattress Firm Holding Corp. (NASDAQ: MFRM) price target of $59.00.
Analyst, Robert S. Drbul, said, "We believe our 1Q EPS estimate of $0.24 could prove conservative. Looking to 2Q and the rest of 2012, our estimates include the impact of the Mattress Giant acquisition, which closed on May 2 ($90 - $95 mm in revenue and $0.05 - $0.06 of accretion for the year), but exclude one-time acquisition costs ($0.17 - $0.19)...For Q1, we expect sales to increase 32.1% to $200.7 million driven by a comp increase of 12% and the addition of 143 new stores in the last year...We are expecting gross margin to increase 120 basis points to 38.0%."
Drbul suggests investors use the recent pullback as an opportunity to step in and accumulate shares, citing the company's long-term growth plan firmly intact.
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 $34.23 yesterday.
Analyst, Robert S. Drbul, said, "We believe our 1Q EPS estimate of $0.24 could prove conservative. Looking to 2Q and the rest of 2012, our estimates include the impact of the Mattress Giant acquisition, which closed on May 2 ($90 - $95 mm in revenue and $0.05 - $0.06 of accretion for the year), but exclude one-time acquisition costs ($0.17 - $0.19)...For Q1, we expect sales to increase 32.1% to $200.7 million driven by a comp increase of 12% and the addition of 143 new stores in the last year...We are expecting gross margin to increase 120 basis points to 38.0%."
Drbul suggests investors use the recent pullback as an opportunity to step in and accumulate shares, citing the company's long-term growth plan firmly intact.
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 $34.23 yesterday.
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