The Lovesac Company (NASDAQ:LOVE) Receives $38.33 Consensus PT from Brokerages

The Lovesac Company (NASDAQ:LOVE) has been given a consensus recommendation of “Buy” by the six research firms that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have issued a report on the stock in the last year is $38.33.

A number of brokerages have weighed in on LOVE. Roth Mkm lifted their price target on shares of Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Canaccord Genuity Group raised their price objective on Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Craig Hallum boosted their target price on Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Finally, DA Davidson cut their price target on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, December 13th.

Lovesac Trading Down 2.5 %

NASDAQ LOVE opened at $24.26 on Friday. The business’s 50-day moving average price is $31.15 and its 200 day moving average price is $27.11. Lovesac has a twelve month low of $18.21 and a twelve month high of $39.49. The company has a market capitalization of $374.40 million, a PE ratio of 71.35, a price-to-earnings-growth ratio of 1.49 and a beta of 2.97.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings data on Thursday, December 12th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.02. Lovesac had a net margin of 1.04% and a return on equity of 3.46%. The business had revenue of $149.90 million for the quarter, compared to analyst estimates of $155.26 million. During the same period in the prior year, the firm posted ($0.15) EPS. The company’s revenue was down 2.7% on a year-over-year basis. Equities analysts predict that Lovesac will post 0.5 EPS for the current year.

Insider Buying and Selling at Lovesac

In other news, Director Albert Jack Krause sold 10,000 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total transaction of $262,200.00. Following the completion of the transaction, the director now directly owns 177,849 shares in the company, valued at approximately $4,663,200.78. This represents a 5.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Walter Field Mclallen purchased 4,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were bought at an average cost of $24.68 per share, with a total value of $98,720.00. Following the transaction, the director now directly owns 23,540 shares of the company’s stock, valued at approximately $580,967.20. This represents a 20.47 % increase in their position. The disclosure for this purchase can be found here. 12.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LOVE. Meeder Asset Management Inc. acquired a new stake in shares of Lovesac in the 2nd quarter valued at about $43,000. SG Americas Securities LLC bought a new stake in Lovesac in the third quarter valued at about $170,000. Quest Partners LLC lifted its holdings in Lovesac by 797.6% during the 2nd quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock worth $194,000 after buying an additional 7,617 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of Lovesac in the 3rd quarter worth approximately $231,000. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Lovesac in the 3rd quarter valued at approximately $242,000. 91.32% of the stock is currently owned by institutional investors.

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.