The Lovesac Company (NASDAQ:LOVE) Receives $34.50 Average PT from Brokerages

Shares of The Lovesac Company (NASDAQ:LOVE) have earned an average recommendation of “Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $34.50.

LOVE has been the topic of several recent analyst reports. Roth Mkm upped their price target on Lovesac from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday. Canaccord Genuity Group reiterated a “buy” rating and issued a $36.00 target price on shares of Lovesac in a report on Friday. Maxim Group raised their price objective on shares of Lovesac from $36.00 to $38.00 and gave the company a “buy” rating in a report on Monday, June 17th. DA Davidson raised their price objective on shares of Lovesac from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Finally, Craig Hallum lifted their price target on Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday.

Lovesac Trading Up 2.9 %

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

Lovesac (NASDAQ:LOVE) last released its earnings results on Thursday, June 13th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.99) by $0.16. The firm had revenue of $132.64 million for the quarter, compared to the consensus estimate of $128.20 million. Lovesac had a return on equity of 7.55% and a net margin of 2.17%. As a group, equities analysts forecast that Lovesac will post 1.09 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Halter Ferguson Financial Inc. purchased a new position in Lovesac in the 4th quarter worth about $5,160,000. Marshall Wace LLP acquired a new stake in shares of Lovesac in the 2nd quarter valued at $4,328,000. American Century Companies Inc. lifted its position 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 buying an additional 128,285 shares during the last quarter. Anson Funds Management LP bought a new stake in shares of Lovesac during the 1st quarter worth $1,742,000. Finally, Hood River Capital Management LLC increased its stake 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. 91.32% of the stock is currently owned by institutional investors.

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.