When it comes to factory firearms, "you pays your money and you take your chances." I have a few factory rifles that shot well out of the box, but damn few. Most needed a little help, either free-floating or bedding the barrel, bedding the action, re-crowning the barrel. If none of these things help, it may be the barrel. Take it to a good smith and have him do two things, scope the bore with a borescope looking for any obvious defects and slug the bore looking for loose and tight spots in the barrel. Ideally, the tightest spot in the barrel should be at the muzzle. If there is a tight spot before the muzzle the smith can either re-crown the barrel at the tight spot, or, if that is too far back, he can try to lap the tight spot out. If neither is successful or possible your only option is to re-barrel the rifle with a match quality barrel from Shilen, Rock Creek, Lilja etc and ask that they taper lap the barrel. Rather than specify a specific barrel length to the gunsmith installing the barrel, just tell him to slug it and to cut the barrel at the tightest spot. If it was properly taper lapped, this should be near the end of the blank.
I shoot custom rimfires in benchrest matches and we deal with these issues all the time. Barrel quality varies and factory barrels are really a crap shoot. Re-barreling with a quality custom barrel is really a pretty cheap fix and you'll be surprised the difference they can make. Most of the time, however, I've been able to improve a factory gun's accuracy with properly bedding the action and re-crowning.
Follow-up, I went back thru all the posts as see that they sent you a replacement. They most likely found a problem with the barrel. Hopefully the replacement meets your accuracy requirements.
Last edited by cooper57m; 02/11/15.