Brokerages Anticipate The Lovesac Company (NASDAQ:LOVE) Will Post Quarterly Sales of $115.45 Million

Equities research analysts expect The Lovesac Company (NASDAQ:LOVEGet Rating) to announce sales of $115.45 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Lovesac’s earnings, with estimates ranging from $114.25 million to $116.70 million. Lovesac posted sales of $82.92 million during the same quarter last year, which indicates a positive year-over-year growth rate of 39.2%. The company is expected to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Lovesac will report full-year sales of $652.87 million for the current financial year, with estimates ranging from $647.32 million to $658.90 million. For the next financial year, analysts anticipate that the company will report sales of $766.29 million, with estimates ranging from $755.30 million to $777.27 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Lovesac.

Lovesac (NASDAQ:LOVEGet Rating) last posted its earnings results on Tuesday, March 29th. The company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $1.49. Lovesac had a net margin of 9.21% and a return on equity of 23.39%. The firm had revenue of $196.20 million during the quarter, compared to analysts’ expectations of $174.34 million. During the same period in the previous year, the business posted $1.37 EPS. The business’s revenue was up 51.3% compared to the same quarter last year.

LOVE has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Lovesac from a “hold” rating to a “strong-buy” rating and set a $62.00 target price for the company in a research note on Saturday, April 2nd. BTIG Research upped their price objective on shares of Lovesac from $113.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, March 30th. Finally, DA Davidson upped their price objective on shares of Lovesac from $111.00 to $135.00 in a research report on Wednesday, March 30th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $104.25.

In other Lovesac news, Director Walter Field Mclallen bought 4,000 shares of the company’s stock in a transaction dated Tuesday, April 5th. The stock was acquired at an average price of $49.96 per share, with a total value of $199,840.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Shawn David Nelson sold 7,000 shares of the company’s stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $49.43, for a total transaction of $346,010.00. The disclosure for this sale can be found here. 16.20% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. purchased a new stake in shares of Lovesac in the fourth quarter valued at about $27,000. Atticus Wealth Management LLC purchased a new stake in shares of Lovesac in the third quarter valued at about $40,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Lovesac in the fourth quarter valued at about $70,000. Royal Bank of Canada grew its holdings in shares of Lovesac by 63.9% in the second quarter. Royal Bank of Canada now owns 1,067 shares of the company’s stock valued at $85,000 after purchasing an additional 416 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Lovesac by 145.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,950 shares of the company’s stock valued at $129,000 after purchasing an additional 1,154 shares during the period.

LOVE opened at $47.37 on Wednesday. The firm has a fifty day moving average price of $45.32 and a 200 day moving average price of $60.22. Lovesac has a 1 year low of $35.07 and a 1 year high of $95.51. The stock has a market cap of $716.47 million, a P/E ratio of 16.62, a P/E/G ratio of 0.43 and a beta of 2.44.

Lovesac Company Profile (Get Rating)

The Lovesac Company designs, manufactures, and sells furniture. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, foot sac blankets, decorative pillows, fitted seat tables, and ottomans. As of January 31, 2021, the Company operated 108 showrooms.

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