$161.92 Million in Sales Expected for Purple Innovation, Inc. (NASDAQ:PRPL) This Quarter

Equities analysts expect Purple Innovation, Inc. (NASDAQ:PRPLGet Rating) to post sales of $161.92 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Purple Innovation’s earnings. The highest sales estimate is $169.30 million and the lowest is $153.50 million. Purple Innovation reported sales of $182.59 million during the same quarter last year, which indicates a negative year-over-year growth rate of 11.3%. The company is expected to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Purple Innovation will report full-year sales of $662.31 million for the current financial year, with estimates ranging from $652.50 million to $670.20 million. For the next financial year, analysts anticipate that the firm will report sales of $752.99 million, with estimates ranging from $704.70 million to $811.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Purple Innovation.

Purple Innovation (NASDAQ:PRPLGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.11. Purple Innovation had a negative net margin of 4.44% and a negative return on equity of 23.87%. The business had revenue of $143.18 million during the quarter, compared to the consensus estimate of $130.12 million. During the same period in the previous year, the business earned $0.17 earnings per share. The company’s revenue was down 23.2% on a year-over-year basis.

A number of research firms have weighed in on PRPL. KeyCorp decreased their target price on shares of Purple Innovation from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, March 28th. Zacks Investment Research raised shares of Purple Innovation from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 12th. B. Riley decreased their target price on shares of Purple Innovation from $9.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 2nd. Oppenheimer reduced their price objective on shares of Purple Innovation from $45.00 to $12.00 in a research note on Friday, May 13th. Finally, Roth Capital cut shares of Purple Innovation from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $10.00 to $6.00 in a research note on Wednesday, March 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Purple Innovation has an average rating of “Hold” and a consensus target price of $12.20.

In related news, Director Coliseum Capital Management, L acquired 1,460,000 shares of the company’s stock in a transaction dated Monday, March 7th. The shares were purchased at an average price of $6.98 per share, for a total transaction of $10,190,800.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jack Roddy acquired 6,000 shares of the company’s stock in a transaction dated Tuesday, May 17th. The shares were bought at an average price of $4.85 per share, for a total transaction of $29,100.00. Following the acquisition, the insider now directly owns 9,000 shares of the company’s stock, valued at approximately $43,650. The disclosure for this purchase can be found here. Insiders have acquired 7,437,751 shares of company stock worth $43,887,309 in the last ninety days. Insiders own 24.92% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in PRPL. LPL Financial LLC raised its holdings in shares of Purple Innovation by 1.7% in the 3rd quarter. LPL Financial LLC now owns 50,391 shares of the company’s stock worth $1,059,000 after acquiring an additional 850 shares during the last quarter. Advisor Group Holdings Inc. raised its holdings in shares of Purple Innovation by 31.8% in the 3rd quarter. Advisor Group Holdings Inc. now owns 5,249 shares of the company’s stock worth $110,000 after acquiring an additional 1,267 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Purple Innovation by 63.5% in the 2nd quarter. Royal Bank of Canada now owns 3,478 shares of the company’s stock worth $92,000 after acquiring an additional 1,351 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of Purple Innovation by 7.6% in the 3rd quarter. Voya Investment Management LLC now owns 21,125 shares of the company’s stock worth $444,000 after acquiring an additional 1,483 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Purple Innovation by 5.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,735 shares of the company’s stock worth $625,000 after acquiring an additional 1,547 shares during the last quarter.

NASDAQ PRPL opened at $4.71 on Wednesday. The firm’s fifty day moving average price is $5.40 and its two-hundred day moving average price is $8.30. The stock has a market cap of $315.42 million, a PE ratio of -7.03 and a beta of 1.74. Purple Innovation has a fifty-two week low of $2.99 and a fifty-two week high of $29.89. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.94 and a current ratio of 1.89.

About Purple Innovation (Get Rating)

Purple Innovation, Inc designs and manufactures mattresses, pillows, and cushions. The company also offers bases, foundations, sheets, mattress protectors, bed frames, seat cushions, weighted blankets, and duvets, as well as pet beds. It markets and sells its products through its e-commerce online channels retail brick-and-mortar wholesale partners, and third-party online retailers, as well as through Purple retail showrooms.

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Earnings History and Estimates for Purple Innovation (NASDAQ:PRPL)

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