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

Shares of The Lovesac Company (NASDAQ:LOVE) have received a consensus rating of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have covered the stock in the last year is $36.67.

LOVE has been the topic of a number of recent analyst reports. Roth Mkm raised their target price on Lovesac from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. DA Davidson restated a “buy” rating and set a $32.00 price objective on shares of Lovesac in a report on Thursday, October 3rd. Canaccord Genuity Group increased their target price on shares of Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday. Finally, Craig Hallum boosted their price target on shares of Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a report on Friday, September 13th.

Lovesac Price Performance

LOVE opened at $38.06 on Wednesday. The firm has a 50 day simple moving average of $30.13 and a 200 day simple moving average of $26.78. Lovesac has a fifty-two week low of $18.21 and a fifty-two week high of $38.94. The company has a market cap of $592.21 million, a price-to-earnings ratio of 74.63, a price-to-earnings-growth ratio of 1.00 and a beta of 2.97.

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

Insider Activity

In other news, Director Albert Jack Krause sold 10,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $4,663,200.78. This represents a 5.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 12.33% of the company’s stock.

Institutional Investors Weigh In On Lovesac

Several institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. bought a new stake in shares of Lovesac in the second quarter worth $43,000. SG Americas Securities LLC acquired a new position in shares of Lovesac during the 3rd quarter worth about $170,000. Quest Partners LLC grew its holdings in shares of 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 acquiring an additional 7,617 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Lovesac by 8.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock valued at $218,000 after acquiring an additional 726 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new stake in shares of Lovesac in the third quarter valued at about $231,000. Institutional investors 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.