Purple Innovation, Inc. (NASDAQ:PRPL) Given Average Rating of “Hold” by Brokerages

Shares of Purple Innovation, Inc. (NASDAQ:PRPLGet Rating) have been assigned a consensus rating of “Hold” from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $8.67.

Several equities research analysts recently commented on PRPL shares. Oppenheimer reduced their price objective on Purple Innovation to $8.00 in a report on Monday, August 22nd. KeyCorp set a $10.00 price target on Purple Innovation in a research note on Tuesday, July 19th.

Insider Activity

In related news, Director Gary T. Dicamillo acquired 10,000 shares of the stock in a transaction dated Wednesday, September 7th. The shares were purchased at an average cost of $2.66 per share, with a total value of $26,600.00. Following the transaction, the director now directly owns 113,083 shares in the company, valued at $300,800.78. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 35.04% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas lifted its holdings in Purple Innovation by 18.6% in the 4th quarter. Teacher Retirement System of Texas now owns 11,402 shares of the company’s stock worth $151,000 after purchasing an additional 1,785 shares in the last quarter. Shay Capital LLC lifted its holdings in Purple Innovation by 19.7% in the 1st quarter. Shay Capital LLC now owns 16,202 shares of the company’s stock worth $95,000 after purchasing an additional 2,662 shares in the last quarter. Rhumbline Advisers lifted its holdings in Purple Innovation by 7.0% in the 1st quarter. Rhumbline Advisers now owns 55,320 shares of the company’s stock worth $324,000 after purchasing an additional 3,604 shares in the last quarter. Ensign Peak Advisors Inc lifted its holdings in Purple Innovation by 32.6% in the 4th quarter. Ensign Peak Advisors Inc now owns 26,510 shares of the company’s stock worth $351,000 after purchasing an additional 6,510 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Purple Innovation by 31.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 33,763 shares of the company’s stock worth $448,000 after purchasing an additional 8,024 shares in the last quarter.

Purple Innovation Price Performance

NASDAQ PRPL opened at $2.85 on Thursday. Purple Innovation has a one year low of $2.65 and a one year high of $23.13. The stock has a 50-day moving average of $3.40 and a 200 day moving average of $4.57. The company has a market capitalization of $236.82 million, a price-to-earnings ratio of -3.85 and a beta of 1.91. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.95 and a current ratio of 1.91.

Purple Innovation (NASDAQ:PRPLGet Rating) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.06). Purple Innovation had a negative return on equity of 28.60% and a negative net margin of 6.39%. The business had revenue of $144.10 million during the quarter, compared to the consensus estimate of $155.79 million. During the same quarter in the previous year, the business posted $0.05 earnings per share. Purple Innovation’s quarterly revenue was down 21.1% compared to the same quarter last year. On average, sell-side analysts forecast that Purple Innovation will post -0.45 EPS for the current year.

Purple Innovation Company Profile

(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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