The Lovesac Company (NASDAQ:LOVE – Get Free Report) has been assigned a consensus recommendation of “Buy” from the six analysts that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $38.33.
Several research analysts recently commented on LOVE shares. Roth Mkm boosted their target price on Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. DA Davidson lowered their price objective on Lovesac from $44.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Finally, Canaccord Genuity Group upped their price objective on Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd.
Read Our Latest Analysis on LOVE
Lovesac Stock Down 1.1 %
Lovesac (NASDAQ:LOVE – Get Free Report) last posted its quarterly earnings data on Thursday, December 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.02. The firm had revenue of $149.90 million for the quarter, compared to the consensus estimate of $155.26 million. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.15) EPS. Sell-side analysts anticipate that Lovesac will post 0.39 earnings per share for the current fiscal year.
Insider Activity at Lovesac
In related news, Director Walter Field Mclallen acquired 4,000 shares of Lovesac stock in a transaction on Friday, December 20th. The stock was purchased at an average cost of $24.68 per share, with a total value of $98,720.00. Following the purchase, the director now directly owns 23,540 shares in the company, valued at approximately $580,967.20. The trade was a 20.47 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.33% of the company’s stock.
Hedge Funds Weigh In On Lovesac
Several hedge funds have recently bought and sold shares of the stock. Wesbanco Bank Inc. increased its position in Lovesac by 100.0% during the fourth quarter. Wesbanco Bank Inc. now owns 27,000 shares of the company’s stock worth $639,000 after buying an additional 13,500 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Lovesac by 305.0% in the fourth quarter. SG Americas Securities LLC now owns 24,064 shares of the company’s stock valued at $569,000 after purchasing an additional 18,122 shares during the period. JPMorgan Chase & Co. grew its position in shares of Lovesac by 76.1% in the third quarter. JPMorgan Chase & Co. now owns 33,510 shares of the company’s stock valued at $960,000 after purchasing an additional 14,480 shares during the period. Franklin Resources Inc. purchased a new stake in shares of Lovesac in the third quarter valued at $231,000. Finally, Barclays PLC grew its position in shares of Lovesac by 312.7% in the third quarter. Barclays PLC now owns 20,312 shares of the company’s stock valued at $583,000 after purchasing an additional 15,390 shares during the period. Hedge funds and other institutional investors own 91.32% of the company’s stock.
About Lovesac
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.
Featured Stories
- Five stocks we like better than Lovesac
- Unveiling The Power Of VWAP: A Key Indicator For Traders
- Top ETFs That Beat the Market in 2024 and Could Do It Again
- 3 Stocks to Protect Your Portfolio from the Coronavirus Contagion
- J.B. Hunt Leads Truckers Lower: Buy Them While They’re Down?
- What Are Trending Stocks? Trending Stocks Explained
- MarketBeat Week in Review – 01/13 – 01/17
Receive News & Ratings for Lovesac Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lovesac and related companies with MarketBeat.com's FREE daily email newsletter.