The Lovesac Company (NASDAQ:LOVE) Given Average Rating of “Buy” by Brokerages

Shares of The Lovesac Company (NASDAQ:LOVE) have been given an average rating of “Buy” by the six ratings firms that are currently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $31.67.

LOVE has been the subject of several analyst reports. DA Davidson decreased their target price on Lovesac from $35.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Oppenheimer reiterated an “outperform” rating and issued a $35.00 price target on shares of Lovesac in a research note on Friday, April 11th. Roth Mkm boosted their price target on Lovesac from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Finally, Canaccord Genuity Group cut their price target on Lovesac from $45.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, April 11th.

Lovesac Price Performance

Shares of NASDAQ LOVE opened at $19.84 on Wednesday. Lovesac has a 1-year low of $12.12 and a 1-year high of $39.49. The business has a 50-day moving average of $18.55 and a 200-day moving average of $23.90. The company has a market capitalization of $294.52 million, a price-to-earnings ratio of 58.35, a PEG ratio of 0.65 and a beta of 2.48.

Lovesac (NASDAQ:LOVE) last issued its earnings results on Thursday, April 10th. The company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.33. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. The company had revenue of $241.50 million during the quarter, compared to the consensus estimate of $230.33 million. During the same quarter in the prior year, the business earned $1.87 earnings per share. The company’s revenue was down 3.6% compared to the same quarter last year. Research analysts expect that Lovesac will post 0.39 EPS for the current fiscal year.

Institutional Trading of Lovesac

Several institutional investors and hedge funds have recently bought and sold shares of the company. SummerHaven Investment Management LLC raised its stake in Lovesac by 1.7% during the first quarter. SummerHaven Investment Management LLC now owns 33,949 shares of the company’s stock valued at $617,000 after buying an additional 562 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in Lovesac by 3.9% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 21,318 shares of the company’s stock valued at $388,000 after buying an additional 800 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in Lovesac during the fourth quarter valued at approximately $26,000. Charles Schwab Investment Management Inc. raised its stake in Lovesac by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,524 shares of the company’s stock valued at $982,000 after buying an additional 1,243 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Lovesac by 13.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,462 shares of the company’s stock valued at $272,000 after buying an additional 1,333 shares in the last quarter. Institutional investors and hedge funds 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.