The Lovesac Company (NASDAQ:LOVE) Receives $34.50 Average Target Price from Analysts

The Lovesac Company (NASDAQ:LOVE) has earned an average recommendation of “Buy” from the six research firms that are covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have covered the stock in the last year is $34.50.

A number of research firms have recently issued reports on LOVE. DA Davidson reiterated a “buy” rating and issued a $32.00 target price on shares of Lovesac in a research note on Thursday, October 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Lovesac in a research report on Friday, September 13th. Craig Hallum boosted their target price on shares of Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Finally, Roth Mkm raised their price target on shares of Lovesac from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, September 13th.

Lovesac Stock Performance

NASDAQ LOVE opened at $30.35 on Friday. Lovesac has a one year low of $16.20 and a one year high of $31.69. The company’s 50 day moving average price is $26.88 and its 200 day moving average price is $25.59. The firm has a market capitalization of $472.25 million, a price-to-earnings ratio of 59.51, a PEG ratio of 0.77 and a beta of 2.91.

Lovesac (NASDAQ:LOVE) last posted its earnings results on Thursday, September 12th. The company reported ($0.38) earnings per share 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 business had revenue of $156.59 million for the quarter, compared to analyst estimates of $154.01 million. Sell-side analysts forecast that Lovesac will post 1.09 EPS for the current fiscal year.

Insider Activity at Lovesac

In other Lovesac news, Director Albert Jack Krause sold 10,000 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lovesac

A number of institutional investors have recently made changes to their positions in the company. LSV Asset Management bought a new stake in Lovesac during the first quarter valued at $988,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Lovesac during the 1st quarter valued at about $489,000. Dimensional Fund Advisors LP raised its stake in Lovesac by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 795,011 shares of the company’s stock worth $17,951,000 after acquiring an additional 26,872 shares during the period. Hood River Capital Management LLC lifted its holdings in 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 acquiring an additional 62,615 shares during the last quarter. Finally, Roubaix Capital LLC acquired a new position in Lovesac in the third quarter valued at approximately $4,520,000. 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.