Lovesac (NASDAQ:LOVE) PT Raised to $35.00

Lovesac (NASDAQ:LOVE) had its target price raised by analysts at Craig Hallum from $30.00 to $35.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s price target suggests a potential upside of 33.33% from the company’s previous close.

LOVE has been the topic of several other research reports. Roth Mkm upped their target price on Lovesac from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday. Maxim Group upped their target price on Lovesac from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, June 17th. DA Davidson upped their target price on Lovesac from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $36.00 target price on shares of Lovesac in a report on Friday, June 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $34.50.

Lovesac Price Performance

Shares of Lovesac stock opened at $26.25 on Friday. The firm has a market cap of $408.21 million, a price-to-earnings ratio of 30.88, a price-to-earnings-growth ratio of 0.55 and a beta of 2.90. The stock’s 50-day moving average is $24.70 and its 200-day moving average is $23.98. Lovesac has a one year low of $14.18 and a one year high of $30.39.

Lovesac (NASDAQ:LOVE) last released its earnings results on Thursday, June 13th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.99) by $0.16. Lovesac had a return on equity of 7.55% and a net margin of 2.17%. The business had revenue of $132.64 million for the quarter, compared to analyst estimates of $128.20 million. On average, equities analysts expect that Lovesac will post 1.09 EPS for the current year.

Insider Buying and Selling at Lovesac

In other Lovesac news, CEO Shawn David Nelson sold 18,988 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $23.33, for a total value of $442,990.04. Following the sale, the chief executive officer now owns 165,855 shares in the company, valued at $3,869,397.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 12.33% of the company’s stock.

Hedge Funds Weigh In On Lovesac

Several institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in shares of Lovesac by 8.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock valued at $218,000 after purchasing an additional 726 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Lovesac by 12.8% in the first quarter. Russell Investments Group Ltd. now owns 13,966 shares of the company’s stock valued at $316,000 after purchasing an additional 1,584 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Lovesac in the first quarter valued at approximately $39,000. Meeder Asset Management Inc. acquired a new position in shares of Lovesac in the second quarter valued at approximately $43,000. Finally, Rhumbline Advisers grew its position in shares of Lovesac by 12.4% in the second quarter. Rhumbline Advisers now owns 22,199 shares of the company’s stock valued at $501,000 after purchasing an additional 2,449 shares during 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.