Not yet time to buy TPX

Article Excerpt

TEMPUR-PEDIC $58.63 (New York symbol TPX; TSINetwork Rating: Speculative)(800-878-8889; www.tempurpedic.com; Shares outstanding: 68.6 million; Market cap: $4.0 billion; No dividends paid) is up over 15% since the company raised its 2011 earnings forecast to between $2.80 to $2.95 a share on revenue of $1.31 billion to $1.36 billion. That’s significantly higher than its previous forecast of $2.72 a share on revenue of $1.26 billion. Tempur-Pedic’s long-term prospects are bright. However, the stock trades at a high 20.1 times the midpoint of its new forecast earnings range. Tempur-Pedic is still a hold. hold…