Lovesac (NASDAQ:LOVE) Given New $31.00 Price Target at Roth Mkm

Lovesac (NASDAQ:LOVE) had its price target increased by equities researchers at Roth Mkm from $30.00 to $31.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Roth Mkm’s price objective would indicate a potential upside of 21.57% from the company’s previous close.

Several other research analysts also recently weighed in on LOVE. Maxim Group lifted their target price on Lovesac from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, June 17th. DA Davidson increased their price target on Lovesac from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $36.00 price objective on shares of Lovesac in a research note on Friday, June 14th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $34.40.

Lovesac Price Performance

Shares of NASDAQ:LOVE opened at $25.50 on Friday. The stock has a market cap of $396.53 million, a P/E ratio of 30.00, a P/E/G 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 firm has a fifty day moving average price of $24.61 and a 200 day moving average price of $23.95.

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, topping analysts’ consensus estimates of ($0.99) by $0.16. The firm had revenue of $132.64 million for the quarter, compared to analyst estimates of $128.20 million. Lovesac had a return on equity of 7.55% and a net margin of 2.17%. Sell-side analysts expect that Lovesac will post 1.09 EPS for the current fiscal year.

Insider Activity at Lovesac

In other news, CEO Shawn David Nelson sold 18,988 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $23.33, for a total transaction of $442,990.04. Following the transaction, the chief executive officer now directly owns 165,855 shares of the company’s stock, valued at approximately $3,869,397.15. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 12.33% of the company’s stock.

Institutional Investors Weigh In On Lovesac

A number of institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in Lovesac by 8.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock worth $218,000 after purchasing an additional 726 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Lovesac by 12.8% in the 1st quarter. Russell Investments Group Ltd. now owns 13,966 shares of the company’s stock valued at $316,000 after acquiring an additional 1,584 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Lovesac during the 1st quarter valued at about $39,000. Meeder Asset Management Inc. acquired a new position in Lovesac during the second quarter worth about $43,000. Finally, Rhumbline Advisers raised its position in Lovesac by 12.4% during the second quarter. Rhumbline Advisers now owns 22,199 shares of the company’s stock worth $501,000 after acquiring an additional 2,449 shares during the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

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.