Lovesac (NASDAQ:LOVE) Price Target Increased to $31.00 by Analysts at Roth Mkm

Lovesac (NASDAQ:LOVE) had its target price hoisted by investment analysts at Roth Mkm from $30.00 to $31.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Mkm’s target price would indicate a potential upside of 21.57% from the company’s current price.

A number of other equities analysts have also recently commented on the company. Maxim Group raised their target price on Lovesac from $36.00 to $38.00 and gave the company a “buy” rating in a report on Monday, June 17th. Canaccord Genuity Group reissued a “buy” rating and issued a $36.00 price target on shares of Lovesac in a research report on Friday, June 14th. Finally, DA Davidson upped their price objective on Lovesac from $24.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $34.40.

Lovesac Trading Up 21.3 %

Shares of LOVE opened at $25.50 on Friday. The company’s 50-day moving average price is $24.61 and its 200 day moving average price is $23.95. Lovesac has a 12-month low of $14.18 and a 12-month high of $30.39. The firm has a market cap of $396.53 million, a P/E ratio of 30.00, a price-to-earnings-growth ratio of 0.55 and a beta of 2.90.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings results on Thursday, June 13th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.99) by $0.16. The business had revenue of $132.64 million for the quarter, compared to the consensus estimate of $128.20 million. Lovesac had a net margin of 2.17% and a return on equity of 7.55%. Equities research analysts forecast that Lovesac will post 1.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Shawn David Nelson sold 18,988 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $23.33, for a total value of $442,990.04. Following the sale, the chief executive officer now directly owns 165,855 shares in the company, valued at approximately $3,869,397.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lovesac

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LOVE. Marshall Wace LLP acquired a new stake in Lovesac during the second quarter worth approximately $4,328,000. Lombard Odier Asset Management USA Corp purchased a new stake in Lovesac in the second quarter valued at $346,000. Hood River Capital Management LLC boosted its stake in Lovesac by 8.8% in the second quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock valued at $17,477,000 after acquiring an additional 62,615 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Lovesac by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 795,011 shares of the company’s stock worth $17,951,000 after purchasing an additional 26,872 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Lovesac during the second quarter worth about $43,000. 91.32% of the stock is owned by institutional investors and hedge funds.

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.