Purple Innovation (PRPL) Receives a Sell from Bank of America Securities

Bank of America Securities analyst Curtis Nagle reiterated a Sell rating on Purple Innovation (PRPLResearch Report) yesterday and set a price target of $3.00. The company’s shares closed yesterday at $2.65.

According to TipRanks, Nagle is a 2-star analyst with an average return of -0.2% and a 48.55% success rate. Nagle covers the Consumer Goods sector, focusing on stocks such as Purple Innovation, Tempur Sealy, and Overstock.

Currently, the analyst consensus on Purple Innovation is a Moderate Buy with an average price target of $5.88.

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The company has a one-year high of $7.90 and a one-year low of $2.33. Currently, Purple Innovation has an average volume of 825.2K.

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying 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.

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