Brokerages Set The Lovesac Company (NASDAQ:LOVE) PT at $34.50

Shares of The Lovesac Company (NASDAQ:LOVE) have been given an average recommendation of “Buy” by the six analysts that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $34.50.

A number of equities research analysts recently commented on LOVE shares. DA Davidson reiterated a “buy” rating and issued a $32.00 target price on shares of Lovesac in a research report on Thursday, October 3rd. Canaccord Genuity Group reiterated a “buy” rating and set a $36.00 target price on shares of Lovesac in a research report on Friday, September 13th. Roth Mkm raised their target price on shares of Lovesac from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, September 13th. Maxim Group upped their price target on shares of Lovesac from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Finally, Craig Hallum lifted their price objective on shares of Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, September 13th.

Lovesac Price Performance

LOVE stock opened at $25.25 on Tuesday. Lovesac has a 1-year low of $14.18 and a 1-year high of $30.39. The business has a 50 day simple moving average of $24.53 and a two-hundred day simple moving average of $24.52. The company has a market capitalization of $392.66 million, a price-to-earnings ratio of 29.71, a PEG ratio of 0.71 and a beta of 2.91.

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

Insiders Place Their Bets

In related news, Director Albert Jack Krause sold 10,000 shares of Lovesac stock in a transaction dated 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 approximately $4,663,200.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 12.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Lovesac

A number of institutional investors and hedge funds have recently modified their holdings of LOVE. EntryPoint Capital LLC bought a new stake in Lovesac during the 1st quarter valued at about $39,000. Meeder Asset Management Inc. purchased a new stake in shares of Lovesac in the second quarter valued at approximately $43,000. SG Americas Securities LLC purchased a new stake in shares of Lovesac in the third quarter valued at approximately $170,000. Quest Partners LLC grew its stake in Lovesac by 797.6% in the second quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock worth $194,000 after purchasing an additional 7,617 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Lovesac by 8.2% during 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 during the period. 91.32% of the stock is owned by institutional investors.

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.