The Lovesac Company (NASDAQ:LOVE) Receives $22.67 Average PT from Analysts

The Lovesac Company (NASDAQ:LOVE) has been given a consensus rating of “Moderate Buy” by the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $22.6667.

Several research firms have recently issued reports on LOVE. Roth Mkm restated a “buy” rating on shares of Lovesac in a research report on Friday, March 27th. Wall Street Zen upgraded Lovesac from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Lovesac in a research report on Friday, March 27th.

Hedge Funds Weigh In On Lovesac

Several institutional investors and hedge funds have recently modified their holdings of LOVE. Invenomic Capital Management LP acquired a new position in shares of Lovesac in the 4th quarter valued at approximately $5,350,000. Millennium Management LLC grew its position in shares of Lovesac by 378.9% in the 4th quarter. Millennium Management LLC now owns 327,477 shares of the company’s stock valued at $4,830,000 after purchasing an additional 259,097 shares during the period. Kanen Wealth Management LLC acquired a new position in shares of Lovesac in the 3rd quarter valued at approximately $4,025,000. Bridgeway Capital Management LLC grew its position in shares of Lovesac by 252.8% in the 2nd quarter. Bridgeway Capital Management LLC now owns 306,687 shares of the company’s stock valued at $5,582,000 after purchasing an additional 219,762 shares during the period. Finally, 4D Advisors LLC acquired a new position in shares of Lovesac in the 4th quarter valued at approximately $2,950,000. 91.32% of the stock is currently owned by institutional investors and hedge funds.

Lovesac Trading Up 3.6%

Shares of NASDAQ:LOVE opened at $15.90 on Friday. The stock has a market capitalization of $232.46 million, a P/E ratio of 54.83, a P/E/G ratio of 0.67 and a beta of 2.21. Lovesac has a 1-year low of $10.33 and a 1-year high of $21.90. The business has a 50-day moving average price of $12.95 and a two-hundred day moving average price of $13.89.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings data on Thursday, March 26th. The company reported $2.19 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.19. The firm had revenue of $248.05 million during the quarter, compared to analysts’ expectations of $242.77 million. Lovesac had a return on equity of 2.02% and a net margin of 0.58%.The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.13 EPS. As a group, equities analysts predict that Lovesac will post 0.39 EPS for the current year.

Lovesac Company Profile

Lovesac, trading on NASDAQ under the symbol LOVE, is an American furniture company known for its modular seating systems and distinctive foam-filled “Sacs.” Founded in 1995 by Shawn Nelson, the company has built a reputation for innovative design that emphasizes comfort, durability and adaptability. Its core offerings include Sactionals—customizable sectional sofas assembled from individual “Sactional” cubes—and the original Lovesac Sacs, large fabric-covered bean bag chairs available in a variety of sizes and materials.

In addition to seating solutions, Lovesac has expanded into home entertainment products with the introduction of the Stage, a modular soundbar system designed to integrate seamlessly with Sactionals.