The Lovesac Company (NASDAQ:LOVE) Given Average Rating of “Buy” by Analysts

The Lovesac Company (NASDAQ:LOVE) has been given an average rating of “Buy” by the six analysts that are currently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $38.33.

LOVE has been the topic of a number of recent research reports. Roth Mkm upped their price target on shares of Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Canaccord Genuity Group boosted their price objective on shares of Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, DA Davidson cut their price objective on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, December 13th.

Lovesac Price Performance

LOVE opened at $26.19 on Thursday. The firm has a market cap of $404.19 million, a P/E ratio of 77.03, a PEG ratio of 1.49 and a beta of 3.04. Lovesac has a 1-year low of $18.21 and a 1-year high of $39.49. The company has a 50 day simple moving average of $30.05 and a two-hundred day simple moving average of $27.30.

Lovesac (NASDAQ:LOVE) last released its earnings results on Thursday, December 12th. The company reported ($0.32) EPS 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 firm had revenue of $149.90 million for the quarter, compared to the consensus estimate of $155.26 million. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. Equities analysts anticipate that Lovesac will post 0.5 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Walter Field Mclallen acquired 4,000 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were acquired at an average price of $24.68 per share, with a total value of $98,720.00. Following the purchase, the director now directly owns 23,540 shares of the company’s stock, valued at $580,967.20. This trade represents a 20.47 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 12.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lovesac

A number of institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in Lovesac by 76.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,510 shares of the company’s stock valued at $960,000 after purchasing an additional 14,480 shares in the last quarter. Franklin Resources Inc. purchased a new position in Lovesac in the 3rd quarter valued at $231,000. Barclays PLC lifted its holdings in Lovesac by 312.7% in the 3rd quarter. Barclays PLC now owns 20,312 shares of the company’s stock valued at $583,000 after purchasing an additional 15,390 shares in the last quarter. Soltis Investment Advisors LLC lifted its holdings in Lovesac by 8.8% in the 3rd quarter. Soltis Investment Advisors LLC now owns 86,170 shares of the company’s stock valued at $2,469,000 after purchasing an additional 6,988 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Lovesac by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 336,210 shares of the company’s stock valued at $9,634,000 after purchasing an additional 3,979 shares in the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

About Lovesac

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.