Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Tempur Sealy vs. Purple Innovation: Which Mattress Stock is a Better Buy?

Published 07/29/2021, 03:25 PM
Updated 07/29/2021, 04:30 PM
© Reuters.  Tempur Sealy vs. Purple Innovation: Which Mattress Stock is a Better Buy?

© Reuters. Tempur Sealy vs. Purple Innovation: Which Mattress Stock is a Better Buy?

The rising demand for good-quality mattresses and mattress companies’ efforts to develop premium products should drive the mattress industry’s growth. Consequently, popular mattress companies Tempur Sealy (NYSE:TPX) and Purple Innovation (NASDAQ:PRPL) should benefit. But let’s find out which of these stocks is a better buy now. Read on.Tempur Sealy International, Inc. (TPX) in Lexington, Ky., and Purple Innovation, Inc. (PRPL) in Lehi, Utah, are two popular mattress manufacturers in the United States. TPX manufactures and markets bedding mattresses, adjustable foundations, pillows, and other comforting products and accessories under its own and other brand names internationally. In comparison, PRPL operates as a comfort technology company offering mattresses, pillows, and cushions. Both companies sell their products primarily through third-party retailers, company-owned stores, and e-commerce.

Since the COVID-19 pandemic, remote working has been motivating people to improve the quality of their lives and living conditions. With attractive summer offers and heightened consumer disposable income, in-part due to government rescue spending, home improvement companies have been generating rising sales. Among other products, the demand for soft, comforting, eco-friendly, and durable mattresses is on the rise as people focus more on their health and wellness. The global mattress market is expected to grow at a 7% CAGR from 2021 - 2026. And both TPX and PRPL are likely to benefit from the industry tailwinds.

But while PRPL's stock price declined by 26.2% over the past month, TPX surged 38.5%. So, TPX is a clear winner with 73.3% gains versus PRPL’s negative returns in terms of the past year's performance. But, which of these stocks is a better pick now? Let’s find out.

Continue reading on StockNews

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.