Brokerages Set The Lovesac Company (NASDAQ:LOVE) Target Price at $35.17

Shares of The Lovesac Company (NASDAQ:LOVE) have received an average rating of “Buy” from the six analysts that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $35.17.

A number of equities research analysts have commented on the company. Roth Mkm upped their price target on Lovesac from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Canaccord Genuity Group reiterated a “buy” rating and issued a $36.00 target price on shares of Lovesac in a report on Friday, September 13th. Craig Hallum raised their price target on shares of Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Lovesac in a research note on Thursday, October 3rd.

Lovesac Price Performance

NASDAQ:LOVE opened at $37.72 on Wednesday. Lovesac has a one year low of $18.21 and a one year high of $38.94. The company has a market cap of $586.89 million, a PE ratio of 73.96, a P/E/G ratio of 0.99 and a beta of 2.91. The firm’s 50 day simple moving average is $29.91 and its 200 day simple moving average is $26.71.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings results on Thursday, September 12th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.08. Lovesac had a net margin of 1.41% and a return on equity of 4.83%. The company had revenue of $156.59 million for the quarter, compared to analyst estimates of $154.01 million. Equities research analysts expect that Lovesac will post 1.09 EPS for the current year.

Insiders Place Their Bets

In other news, Director Albert Jack Krause sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was 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 directly owns 177,849 shares in the company, valued at $4,663,200.78. This trade represents a 5.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 12.33% of the company’s stock.

Institutional Investors Weigh In On Lovesac

Hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Lovesac by 8.2% in the 1st 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. BCGM Wealth Management LLC grew its holdings in shares of Lovesac by 0.8% during the third quarter. BCGM Wealth Management LLC now owns 134,364 shares of the company’s stock valued at $3,850,000 after buying an additional 1,023 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Lovesac by 12.8% in the 1st quarter. Russell Investments Group Ltd. now owns 13,966 shares of the company’s stock worth $316,000 after acquiring an additional 1,584 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Lovesac in the 2nd quarter valued at about $43,000. Finally, Empowered Funds LLC boosted its stake in Lovesac by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 49,284 shares of the company’s stock valued at $1,412,000 after purchasing an additional 2,412 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.