Lovesac (NASDAQ:LOVE) PT Raised to $31.00 at Roth Mkm

Lovesac (NASDAQ:LOVE) had its target price boosted by research analysts 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 suggest a potential upside of 18.10% from the stock’s current price.

Several other equities analysts also recently commented on the company. Maxim Group upped their price objective on Lovesac from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Canaccord Genuity Group restated a “buy” rating and set a $36.00 target price on shares of Lovesac in a research report on Friday, June 14th. Finally, DA Davidson increased their target price on Lovesac from $24.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Lovesac presently has a consensus rating of “Buy” and a consensus price target of $34.50.

Lovesac Trading Up 2.9 %

Lovesac stock opened at $26.25 on Friday. Lovesac has a 12 month low of $14.18 and a 12 month high of $30.39. The business’s 50 day simple moving average is $24.70 and its 200 day simple moving average is $23.98. The company has a market cap of $408.21 million, a price-to-earnings ratio of 30.88, a PEG ratio of 0.55 and a beta of 2.90.

Lovesac (NASDAQ:LOVE) last posted its quarterly earnings data on Thursday, June 13th. The company reported ($0.83) 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 business had revenue of $132.64 million for the quarter, compared to the consensus estimate of $128.20 million. As a group, equities research analysts forecast that Lovesac will post 1.09 earnings per share for the current fiscal year.

Insider Transactions 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 value of $442,990.04. Following the transaction, the chief executive officer now owns 165,855 shares of the company’s stock, valued at $3,869,397.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 12.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LOVE. Halter Ferguson Financial Inc. bought a new position in shares of Lovesac in the fourth quarter worth $5,160,000. Marshall Wace LLP bought a new position in shares of Lovesac in the second quarter worth $4,328,000. American Century Companies Inc. increased its holdings in shares of Lovesac by 78.6% in the second quarter. American Century Companies Inc. now owns 291,579 shares of the company’s stock worth $6,584,000 after purchasing an additional 128,285 shares during the period. Anson Funds Management LP bought a new position in shares of Lovesac in the first quarter worth $1,742,000. Finally, Hood River Capital Management LLC increased its holdings in shares of Lovesac by 8.8% in the second quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock worth $17,477,000 after purchasing an additional 62,615 shares during the period. Institutional investors 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.