DA Davidson Has Lowered Expectations for Lovesac (NASDAQ:LOVE) Stock Price

Lovesac (NASDAQ:LOVE) had its target price trimmed by DA Davidson from $44.00 to $35.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts also recently issued research reports about the company. Craig Hallum upped their target price on Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Roth Mkm boosted their price target on Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Canaccord Genuity Group raised their price objective on shares of Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $38.33.

Lovesac Stock Performance

Lovesac stock opened at $26.34 on Friday. Lovesac has a fifty-two week low of $18.21 and a fifty-two week high of $39.49. The business’s 50-day simple moving average is $31.56 and its two-hundred day simple moving average is $27.29. The company has a market cap of $409.82 million, a PE ratio of 51.65, a PEG ratio of 0.99 and a beta of 2.97.

Lovesac (NASDAQ:LOVE) last issued its earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.02. The firm had revenue of $149.90 million during the quarter, compared to analysts’ expectations of $155.26 million. Lovesac had a net margin of 1.41% and a return on equity of 4.83%. The firm’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.15) earnings per share. As a group, analysts predict that Lovesac will post 1.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lovesac news, Director Albert Jack Krause sold 10,000 shares of the 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 transaction, the director now directly owns 177,849 shares of the company’s stock, valued at $4,663,200.78. This trade represents a 5.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 12.33% of the stock is currently owned by company insiders.

Institutional Trading of Lovesac

Institutional investors and hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its holdings in Lovesac by 8.2% in the 1st 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. Skylands Capital LLC lifted its stake in shares of Lovesac by 6.3% in the second quarter. Skylands Capital LLC now owns 218,500 shares of the company’s stock worth $4,934,000 after buying an additional 12,960 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Lovesac by 12.4% in the second quarter. Rhumbline Advisers now owns 22,199 shares of the company’s stock worth $501,000 after buying an additional 2,449 shares in the last quarter. Quest Partners LLC boosted its position in Lovesac by 797.6% during the second quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock worth $194,000 after acquiring an additional 7,617 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Lovesac by 78.6% during the 2nd quarter. American Century Companies Inc. now owns 291,579 shares of the company’s stock valued at $6,584,000 after acquiring an additional 128,285 shares in the last quarter. Hedge funds and other 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.