Wall Street analysts forecast that Purple Innovation, Inc. (NASDAQ:PRPL – Get Rating) will report $161.92 million in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Purple Innovation’s earnings, with the highest sales estimate coming in at $169.30 million and the lowest estimate coming in at $153.50 million. Purple Innovation posted sales of $182.59 million during the same quarter last year, which would indicate a negative year over year growth rate of 11.3%. The business is scheduled 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 fiscal year, with estimates ranging from $652.50 million to $670.20 million. For the next financial year, analysts expect that the business will post 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 sell-side research firms that that provide coverage for Purple Innovation.
Purple Innovation (NASDAQ:PRPL – Get Rating) last announced its earnings results on Tuesday, May 10th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.11. The company had revenue of $143.18 million during the quarter, compared to analyst estimates of $130.12 million. Purple Innovation had a negative net margin of 4.44% and a negative return on equity of 23.87%. Purple Innovation’s revenue was down 23.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 earnings per share.
Shares of NASDAQ PRPL traded up $0.36 during trading on Wednesday, reaching $6.02. The stock had a trading volume of 3,364,030 shares, compared to its average volume of 2,237,026. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.94 and a current ratio of 1.89. The company has a market cap of $403.15 million, a P/E ratio of -8.99 and a beta of 1.74. Purple Innovation has a fifty-two week low of $2.99 and a fifty-two week high of $29.52. The business’s 50-day moving average price is $5.26 and its 200-day moving average price is $8.09.
In other Purple Innovation news, insider Jack Roddy purchased 6,000 shares of Purple Innovation stock in a transaction dated Tuesday, May 17th. The stock was acquired at an average cost of $4.85 per share, with a total value of $29,100.00. Following the acquisition, the insider now directly owns 9,000 shares of the company’s stock, valued at $43,650. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Coliseum Capital Management, L acquired 1,460,000 shares of the company’s stock in a transaction that occurred on Monday, March 7th. The shares were acquired at an average cost of $6.98 per share, for a total transaction of $10,190,800.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 8,401,145 shares of company stock valued at $48,289,659. Corporate insiders own 24.92% of the company’s stock.
A number of institutional investors have recently modified their holdings of PRPL. Strs Ohio purchased a new stake in Purple Innovation during the first quarter worth $50,000. Point72 Hong Kong Ltd purchased a new stake in shares of Purple Innovation in the 1st quarter worth about $52,000. Kestra Advisory Services LLC purchased a new stake in shares of Purple Innovation in the 1st quarter worth about $68,000. Royal Bank of Canada grew its stake in Purple Innovation by 63.5% in the 2nd quarter. Royal Bank of Canada now owns 3,478 shares of the company’s stock valued at $92,000 after acquiring an additional 1,351 shares during the last quarter. Finally, Macquarie Group Ltd. increased its holdings in Purple Innovation by 97.9% during the 3rd quarter. Macquarie Group Ltd. now owns 4,429 shares of the company’s stock valued at $93,000 after acquiring an additional 2,191 shares in the last quarter.
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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