$0.08 EPS Expected for Purple Innovation Inc (NASDAQ:PRPL) This Quarter

Analysts forecast that Purple Innovation Inc (NASDAQ:PRPL) will post earnings of $0.08 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Purple Innovation’s earnings, with estimates ranging from $0.03 to $0.12. Purple Innovation posted earnings per share of ($0.12) during the same quarter last year, which would indicate a positive year over year growth rate of 166.7%. The business is scheduled to issue its next earnings report on Tuesday, March 10th.

According to Zacks, analysts expect that Purple Innovation will report full-year earnings of $0.52 per share for the current year. For the next fiscal year, analysts forecast that the firm will report earnings of $0.63 per share, with EPS estimates ranging from $0.55 to $0.71. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Purple Innovation.

Purple Innovation (NASDAQ:PRPL) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.17. The company had revenue of $117.41 million for the quarter, compared to analysts’ expectations of $105.29 million. Purple Innovation had a negative return on equity of 57,779.57% and a negative net margin of 0.22%.

A number of brokerages recently commented on PRPL. TheStreet upgraded shares of Purple Innovation from a “d+” rating to a “c-” rating in a report on Tuesday, September 10th. Zacks Investment Research lowered shares of Purple Innovation from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Roth Capital began coverage on shares of Purple Innovation in a report on Monday, October 28th. They set a “buy” rating and a $10.00 price objective on the stock. Wedbush raised their price objective on shares of Purple Innovation from $9.00 to $12.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Finally, ValuEngine downgraded shares of Purple Innovation from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $10.00.

In other Purple Innovation news, Director Coliseum Capital Management, L bought 29,979 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $8.22 per share, with a total value of $246,427.38. In the last ninety days, insiders purchased 263,026 shares of company stock valued at $2,082,224. 78.80% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Cpwm LLC grew its position in shares of Purple Innovation by 150.0% in the 2nd quarter. Cpwm LLC now owns 50,000 shares of the company’s stock valued at $338,000 after acquiring an additional 30,000 shares during the period. Vanguard Group Inc. grew its position in shares of Purple Innovation by 17.5% in the 2nd quarter. Vanguard Group Inc. now owns 52,910 shares of the company’s stock valued at $357,000 after acquiring an additional 7,879 shares during the period. Wells Fargo & Company MN grew its position in shares of Purple Innovation by 1,705.3% in the 2nd quarter. Wells Fargo & Company MN now owns 11,608 shares of the company’s stock valued at $78,000 after acquiring an additional 10,965 shares during the period. Finally, Commonwealth Equity Services LLC bought a new position in shares of Purple Innovation in the 2nd quarter valued at about $567,000. 12.66% of the stock is owned by institutional investors and hedge funds.

Shares of PRPL traded up $0.64 during mid-day trading on Tuesday, reaching $8.15. 3,048,100 shares of the company’s stock traded hands, compared to its average volume of 98,184. Purple Innovation has a 12 month low of $4.20 and a 12 month high of $11.04. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.93 and a current ratio of 1.44. The business’s 50-day moving average price is $7.51 and its 200-day moving average price is $7.11. The stock has a market capitalization of $404.68 million, a P/E ratio of -15.98 and a beta of -0.44.

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.

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