B.Riley FBR analyst Susan Anderson maintained a Buy rating on Purple Innovation (PRPL) on July 22 and set a price target of $23.00. The company’s shares closed last Tuesday at $21.06, close to its 52-week high of $21.30.
According to TipRanks.com, Anderson ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -4.4% and a 38.3% success rate. Anderson covers the Consumer Goods sector, focusing on stocks such as Wolverine World Wide, Turning Point Brands, and G-III Apparel Group.
Purple Innovation has an analyst consensus of Strong Buy, with a price target consensus of $21.20, a 2.4% upside from current levels. In a report issued on July 24, KeyBanc also maintained a Buy rating on the stock with a $22.00 price target.
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The company has a one-year high of $21.30 and a one-year low of $4.42. Currently, Purple Innovation has an average volume of 845K.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PRPL in relation to earlier this year.
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Purple Innovation, Inc. engages in the design and manufacture of mattresses, cushions, pillows, and other comfort products. The firm uses Hyper-Elastic Polymer technology. Its products include mattresses, new purple mattress, original purple mattress, bed pillows, seat cushions, mattress protector, and bamboo sheets. The company was founded by Terry V. Pearce and Tony M. Pearce in 2010 and is headquartered in Alpine, Utah.
