The Lovesac Company (NASDAQ:LOVE) Expected to Announce Quarterly Sales of $115.45 Million

Brokerages expect The Lovesac Company (NASDAQ:LOVEGet Rating) to post $115.45 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Lovesac’s earnings, with estimates ranging from $114.25 million to $116.70 million. Lovesac reported sales of $82.92 million in the same quarter last year, which indicates a positive year over year growth rate of 39.2%. The business is expected to announce its next quarterly earnings results 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 business will report sales of $766.29 million, with estimates ranging from $755.30 million to $777.27 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Lovesac.

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

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

NASDAQ LOVE opened at $45.29 on Wednesday. The stock has a market capitalization of $685.01 million, a PE ratio of 15.89, a P/E/G ratio of 0.40 and a beta of 2.43. The business has a 50 day simple moving average of $45.85 and a two-hundred day simple moving average of $57.84. Lovesac has a 1-year low of $35.07 and a 1-year high of $95.51.

In other news, Director Walter Field Mclallen bought 4,000 shares of the firm’s stock in a transaction on Tuesday, April 5th. The stock was acquired at an average cost of $49.96 per share, with a total value of $199,840.00. Following the transaction, the director now directly owns 8,891 shares in the company, valued at approximately $444,194.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Shawn David Nelson sold 7,000 shares of Lovesac stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $49.43, for a total value of $346,010.00. Following the sale, the chief executive officer now directly owns 151,623 shares of the company’s stock, valued at $7,494,724.89. The disclosure for this sale can be found here. 16.20% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Newbridge Financial Services Group Inc. bought a new stake in Lovesac during the 4th quarter valued at $27,000. Atticus Wealth Management LLC bought a new stake in Lovesac during the 3rd quarter valued at $40,000. Royal Bank of Canada raised its position in shares of Lovesac by 63.9% in the 2nd quarter. Royal Bank of Canada now owns 1,067 shares of the company’s stock worth $85,000 after acquiring an additional 416 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Lovesac in the 4th quarter worth $70,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Lovesac by 145.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,950 shares of the company’s stock worth $129,000 after acquiring an additional 1,154 shares in the last quarter. 97.12% of the stock is owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Lovesac (NASDAQ:LOVE)

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