Purple Innovation (NASDAQ:PRPL)‘s stock had its “buy” rating restated by Oppenheimer in a research note issued to investors on Friday, AnalystRatings.com reports.
Several other research analysts also recently commented on the company. BidaskClub downgraded Purple Innovation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 26th. B. Riley boosted their price target on Purple Innovation from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Zacks Investment Research downgraded Purple Innovation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 19th. ValuEngine downgraded Purple Innovation from a “hold” rating to a “sell” rating in a research note on Friday, August 14th. Finally, TheStreet downgraded Purple Innovation from a “c” rating to a “d+” rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $21.89.
Shares of Purple Innovation stock opened at $17.28 on Friday. The firm has a market cap of $998.07 million, a PE ratio of -132.92, a P/E/G ratio of 2.20 and a beta of 1.70. Purple Innovation has a 52-week low of $4.42 and a 52-week high of $27.75. The business’s 50 day simple moving average is $21.28 and its 200 day simple moving average is $14.76. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.10 and a current ratio of 1.45.
In other news, insider Casey Kale Mcgarvey sold 300,000 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $17.00, for a total transaction of $5,100,000.00. Following the completion of the transaction, the insider now owns 300,000 shares of the company’s stock, valued at approximately $5,100,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 75.10% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of PRPL. Envestnet Asset Management Inc. bought a new position in shares of Purple Innovation in the first quarter worth $122,000. BlackRock Inc. boosted its stake in Purple Innovation by 22.7% in the first quarter. BlackRock Inc. now owns 427,363 shares of the company’s stock valued at $2,427,000 after acquiring an additional 78,986 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Purple Innovation by 123.3% in the first quarter. Bank of New York Mellon Corp now owns 27,261 shares of the company’s stock valued at $154,000 after acquiring an additional 15,053 shares in the last quarter. Wasatch Advisors Inc. acquired a new stake in Purple Innovation in the first quarter valued at approximately $3,334,000. Finally, Hancock Whitney Corp acquired a new stake in Purple Innovation in the first quarter valued at approximately $73,000. 64.45% of the stock is owned by institutional investors and hedge funds.
About Purple Innovation
Purple Innovation, Inc designs and manufactures mattresses, pillows, and cushions. It also offers sheets, mattress protectors, platform bases, and foundations. The company markets and sells its products through direct-to-consumer online channels, traditional wholesale partners, and third-party online retailers.
Featured Article: What is Elliott Wave theory?
Receive News & Ratings for Purple Innovation Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Purple Innovation and related companies with MarketBeat.com’s FREE daily email newsletter.
