The Lovesac Company (NASDAQ:LOVE) Receives Consensus Recommendation of “Buy” from Analysts

The Lovesac Company (NASDAQ:LOVE) has been given a consensus rating of “Buy” by the six research firms that are covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $35.17.

LOVE has been the subject of a number of research reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $36.00 price target on shares of Lovesac in a research report on Friday, September 13th. Craig Hallum upped their target price on Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Roth Mkm raised their price target on shares of Lovesac from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, DA Davidson reissued a “buy” rating and set a $32.00 target price on shares of Lovesac in a report on Thursday, October 3rd.

Insider Transactions at Lovesac

In other Lovesac news, Director Albert Jack Krause sold 10,000 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $26.22, for a total value of $262,200.00. Following the completion of the transaction, the director now owns 177,849 shares in the company, valued at approximately $4,663,200.78. This represents a 5.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 12.33% of the company’s stock.

Institutional Trading of Lovesac

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new position in shares of Lovesac during the second quarter valued at approximately $43,000. SG Americas Securities LLC purchased a new stake in shares of Lovesac during the third quarter worth approximately $170,000. Valeo Financial Advisors LLC acquired a new position in Lovesac in the 3rd quarter valued at $242,000. Quest Partners LLC lifted its holdings in Lovesac by 797.6% in the 2nd quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock valued at $194,000 after purchasing an additional 7,617 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in Lovesac during the 3rd quarter worth $255,000. Hedge funds and other institutional investors own 91.32% of the company’s stock.

Lovesac Stock Down 3.6 %

Shares of Lovesac stock opened at $37.10 on Wednesday. The company has a 50 day moving average price of $29.06 and a 200 day moving average price of $26.40. The firm has a market capitalization of $577.28 million, a P/E ratio of 72.75, a PEG ratio of 0.91 and a beta of 2.91. Lovesac has a 52 week low of $18.21 and a 52 week high of $38.94.

Lovesac (NASDAQ:LOVE) last posted its quarterly earnings results on Thursday, September 12th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.08. The business had revenue of $156.59 million during the quarter, compared to analysts’ expectations of $154.01 million. Lovesac had a net margin of 1.41% and a return on equity of 4.83%. As a group, research analysts anticipate that Lovesac will post 1.09 earnings per share for the current fiscal year.

Lovesac Company Profile

The Lovesac Company designs, manufactures, and sells furniture. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and other products comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans. The company markets its products primarily through www.lovesac.com website, as well as showrooms at top tier malls, lifestyle centers, mobile concierges, kiosks, and street locations in 41 states in the United States; and in store pop-up- shops and shop-in-shops, and barter inventory transactions.