In a report released today, Bobby Griffin from Raymond James maintained a Buy rating on Purple Innovation (PRPL). The company’s shares closed last Monday at $35.02, close to its 52-week high of $36.32.
According to TipRanks.com, Griffin is a 5-star analyst with an average return of 33.0% and a 76.3% success rate. Griffin covers the Consumer Goods sector, focusing on stocks such as Bed Bath & Beyond, Leggett & Platt, and Casey’s General.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Purple Innovation with a $35.13 average price target.
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The company has a one-year high of $36.32 and a one-year low of $4.42. Currently, Purple Innovation has an average volume of 1.16M.
Based on the recent corporate insider activity of 35 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.
