Brokerages Set The Lovesac Company (NASDAQ:LOVE) Price Target at $30.40

The Lovesac Company (NASDAQ:LOVE) has been given a consensus recommendation of “Buy” by the five analysts that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have covered the stock in the last year is $30.40.

A number of analysts have weighed in on the company. Roth Mkm increased their price objective on Lovesac from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. DA Davidson decreased their price target on Lovesac from $35.00 to $24.00 and set a “buy” rating for the company in a report on Friday, April 11th. Wall Street Zen raised shares of Lovesac from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Oppenheimer restated an “outperform” rating and set a $35.00 price objective on shares of Lovesac in a research report on Friday, April 11th. Finally, Canaccord Genuity Group lowered their target price on shares of Lovesac from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, April 11th.

Lovesac Stock Down 0.2%

LOVE opened at $18.19 on Monday. Lovesac has a 52 week low of $12.12 and a 52 week high of $39.49. The business’s 50 day moving average is $18.72 and its two-hundred day moving average is $19.65. The firm has a market cap of $264.66 million, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 0.58 and a beta of 2.20.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings results on Thursday, June 12th. The company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.08. Lovesac had a net margin of 1.99% and a return on equity of 6.70%. The firm had revenue of $138.37 million during the quarter, compared to analysts’ expectations of $137.20 million. During the same quarter in the prior year, the business earned ($0.83) EPS. Lovesac’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities analysts expect that Lovesac will post 0.39 EPS for the current fiscal year.

Insider Transactions at Lovesac

In other news, Director Walter Field Mclallen bought 1,950 shares of the stock in a transaction on Friday, June 20th. The shares were bought at an average price of $18.08 per share, with a total value of $35,256.00. Following the completion of the acquisition, the director owned 40,000 shares of the company’s stock, valued at approximately $723,200. This trade represents a 5.12% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.33% of the company’s stock.

Institutional Investors Weigh In On Lovesac

A number of large investors have recently added to or reduced their stakes in the business. Heck Capital Advisors LLC purchased a new stake in shares of Lovesac in the fourth quarter valued at about $26,000. Public Employees Retirement System of Ohio acquired a new position in shares of Lovesac during the 2nd quarter worth approximately $36,000. Cubist Systematic Strategies LLC purchased a new stake in Lovesac in the 4th quarter valued at approximately $49,000. Quarry LP grew its holdings in Lovesac by 396.3% during the 1st quarter. Quarry LP now owns 3,052 shares of the company’s stock valued at $55,000 after buying an additional 2,437 shares during the last quarter. Finally, MetLife Investment Management LLC increased its position in Lovesac by 18.3% during the fourth quarter. MetLife Investment Management LLC now owns 9,233 shares of the company’s stock worth $218,000 after buying an additional 1,425 shares in the last quarter. 91.32% of the stock is owned by institutional investors and hedge funds.

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.