The Lovesac Company (NASDAQ:LOVE) Given Consensus Rating of “Buy” by Brokerages

Shares of The Lovesac Company (NASDAQ:LOVE) have been given an average rating of “Buy” by the six ratings firms that are covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have covered the stock in the last year is $34.50.

Several research analysts recently issued reports on the company. Roth Mkm upped their target price on Lovesac from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday. Maxim Group increased their price objective on shares of Lovesac from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Craig Hallum boosted their target price on shares of Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday. DA Davidson upped their price target on shares of Lovesac from $24.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $36.00 price objective on shares of Lovesac in a research note on Friday, June 14th.

Insider Activity at Lovesac

In other news, CEO Shawn David Nelson sold 18,988 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $23.33, for a total value of $442,990.04. Following the completion of the sale, the chief executive officer now directly owns 165,855 shares in the company, valued at $3,869,397.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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. BNP Paribas Financial Markets raised its holdings in Lovesac by 146.8% in the 4th quarter. BNP Paribas Financial Markets now owns 64,767 shares of the company’s stock valued at $1,655,000 after buying an additional 38,520 shares during the period. Jump Financial LLC purchased a new stake in shares of Lovesac in the 4th quarter valued at approximately $855,000. BCGM Wealth Management LLC raised its stake in shares of Lovesac by 5.6% in the 4th quarter. BCGM Wealth Management LLC now owns 128,691 shares of the company’s stock valued at $3,288,000 after acquiring an additional 6,858 shares during the period. Halter Ferguson Financial Inc. acquired a new position in shares of Lovesac in the 4th quarter worth approximately $5,160,000. Finally, Premier Fund Managers Ltd purchased a new position in shares of Lovesac during the 4th quarter worth approximately $350,000. 91.32% of the stock is currently owned by institutional investors and hedge funds.

Lovesac Stock Up 1.3 %

LOVE stock traded up $0.32 during trading on Friday, hitting $25.82. 241,343 shares of the company’s stock traded hands, compared to its average volume of 286,366. The firm has a market capitalization of $401.53 million, a P/E ratio of 30.34, a PEG ratio of 0.55 and a beta of 2.90. Lovesac has a 1 year low of $14.18 and a 1 year high of $30.39. The business has a fifty day simple moving average of $24.61 and a two-hundred day simple moving average of $23.95.

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