Gilford Securities Maintains Hold on Tempur-Pedic

Gilford Securities reiterates its Hold rating on Tempur-Pedic (NYSE: TPX) as the company beats expectations for 4Q11 and says premium entry lineup is coming soon.

Gilford Securities says, "In 2012, the company will reintroduce mattresses at the entry level of the premium specialty segment. It advertising commitment expands to 13% of sales, or more than $200m. ...4Q11 sales increased by 25.3% to $366.8m from $292.7m and EPS increased 28.3% to $0.84 from $0.66. Domestic and international sales growth rates were 25.6% and 24.8%, respectively."

TPX closed at $68.20 a share on Tuesday.