Purple Innovation (NASDAQ:PRPL) announced its quarterly earnings data on Tuesday. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.81) by $1.22, Morningstar.com reports. The firm had revenue of $83.65 million during the quarter, compared to analyst estimates of $71.20 million. Purple Innovation had a negative net margin of 1.39% and a negative return on equity of 63.22%.
Shares of PRPL traded up $0.49 during mid-day trading on Wednesday, reaching $6.45. The company’s stock had a trading volume of 123,600 shares, compared to its average volume of 11,189. The firm has a market cap of $320.65 million, a price-to-earnings ratio of -12.65 and a beta of -0.08. The company has a debt-to-equity ratio of 6.41, a quick ratio of 0.51 and a current ratio of 0.98. Purple Innovation has a 52 week low of $4.20 and a 52 week high of $10.74.
A number of equities research analysts have recently weighed in on PRPL shares. Zacks Investment Research upgraded shares of Purple Innovation from a “hold” rating to a “buy” rating and set a $5.75 price objective for the company in a report on Friday, April 19th. Wedbush restated an “outperform” rating and issued a $6.50 price objective on shares of Purple Innovation in a report on Wednesday, March 13th.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Northern Trust Corp lifted its holdings in shares of Purple Innovation by 7.2% in the 4th quarter. Northern Trust Corp now owns 43,341 shares of the company’s stock worth $256,000 after acquiring an additional 2,897 shares during the last quarter. Royce & Associates LP raised its holdings in Purple Innovation by 22.2% during the 4th quarter. Royce & Associates LP now owns 275,000 shares of the company’s stock valued at $1,620,000 after buying an additional 50,000 shares during the last quarter. Vanguard Group Inc raised its holdings in Purple Innovation by 112.0% during the 3rd quarter. Vanguard Group Inc now owns 41,721 shares of the company’s stock valued at $242,000 after buying an additional 22,043 shares during the last quarter. Vanguard Group Inc. raised its holdings in Purple Innovation by 112.0% during the 3rd quarter. Vanguard Group Inc. now owns 41,721 shares of the company’s stock valued at $242,000 after buying an additional 22,043 shares during the last quarter. Finally, LPL Financial LLC raised its holdings in Purple Innovation by 347.2% during the 3rd quarter. LPL Financial LLC now owns 56,800 shares of the company’s stock valued at $329,000 after buying an additional 44,100 shares during the last quarter. Hedge funds and other institutional investors own 13.00% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This piece was first posted by Equities Focus and is the sole property of of Equities Focus. If you are reading this piece on another website, it was stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this piece can be accessed at https://www.equitiesfocus.com/2019/05/08/purple-innovation-prpl-posts-earnings-results-beats-expectations-by-1-22-eps.html.
Purple Innovation Company Profile
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.
See Also: Total Return
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.