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

by · The Markets Daily

Shares of The Lovesac Company (NASDAQ:LOVE – Get Free Report) have earned an average rating of “Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $34.50.

Several brokerages recently weighed in on LOVE. DA Davidson restated a “buy” rating and set a $32.00 target price on shares of Lovesac in a research note on Thursday, October 3rd. Canaccord Genuity Group restated a “buy” rating and set a $36.00 price target on shares of Lovesac in a research note on Friday, September 13th. Craig Hallum upped their price objective on Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Maxim Group raised their target price on Lovesac from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Finally, Roth Mkm upped their price target on Lovesac from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, September 13th.

View Our Latest Stock Analysis on Lovesac

Insider Buying and Selling at Lovesac

In related news, Director Albert Jack Krause sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $26.22, for a total value of $262,200.00. Following the completion of the sale, the director now owns 177,849 shares of the company’s stock, valued at $4,663,200.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 12.33% of the company’s stock.

Institutional Trading of Lovesac

Several institutional investors and hedge funds have recently added to or reduced their stakes in LOVE. EntryPoint Capital LLC acquired a new position in Lovesac during the first quarter valued at approximately $39,000. 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 Lovesac during the third quarter worth $170,000. Quest Partners LLC grew its position in Lovesac by 797.6% in the second quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock valued at $194,000 after purchasing an additional 7,617 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in 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 purchasing an additional 726 shares in the last quarter. 91.32% of the stock is owned by institutional investors.

Lovesac Stock Up 3.2 %

LOVE opened at $26.05 on Tuesday. The firm has a market capitalization of $405.34 million, a P/E ratio of 51.08, a PEG ratio of 0.65 and a beta of 2.91. The stock has a fifty day moving average of $24.56 and a 200-day moving average of $24.56. Lovesac has a 12-month low of $14.18 and a 12-month high of $30.39.

Lovesac (NASDAQ:LOVE – Get Free Report) last announced its quarterly earnings data on Thursday, September 12th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.08. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. The business had revenue of $156.59 million during the quarter, compared to analyst estimates of $154.01 million. On average, analysts expect that Lovesac will post 1.09 earnings per share for the current fiscal year.

About Lovesac

(Get Free Report

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.

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