Mid Cap Gainers: TPX, MTH, MXL
3:27 pm Thursday, July 29th, 2021
Tempur Sealy International Inc (NYSE: TPX) spikes to record highs after posting upside results for Q2 and guiding FY21 EPS and revs above consensus. Net sales increased +75.8% in the quarter; co noted broad-based strength across geographies and channels and highlighted double-digit global web sales growth. Raised its dividend by nearly +30% to $0.09/share. The stock is now up by 16% to $43.57.
Meritage Homes Corp (NYSE: MTH) topped consensus for Q2 EPS and revs, supported by strong homebuying demand. Total orders of 3,542 decreased 2% yr/yr. Home closing revs increased +23% yr/yr to $1.3 bln, and home closing gross margin increased to 27.3% from 21.4% in the prior-year quarter, driven in part by efficiencies gained from higher average sales price. Issued upside guidance for FY21 EPS. MTH surged 11.73% to $106.91.
MaxLinear, Inc. (NYSE: MXL) stock moved up 10.66% to $47.45 after the company posted upside Q2 EPS on in-line revs. Non-GAAP gross margin increased +160-bps sequentially to 60.2%, above the high-end of guidance. Co expects strong sales growth to continue into Q3 across all end markets; issued upside Q3 guidance. Assumed with a Buy and a $51 price target at The Benchmark Company. At record highs.
