The Lovesac Company (NASDAQ:LOVE) Receives $34.50 Average Target Price from Brokerages

Shares of The Lovesac Company (NASDAQ:LOVE) have been assigned a consensus recommendation of “Buy” from the six research firms that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $34.50.

A number of equities research analysts have recently issued reports on LOVE shares. Craig Hallum boosted their target price on shares of Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, September 13th. DA Davidson reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Lovesac in a research note on Thursday, October 3rd. Canaccord Genuity Group reissued a “buy” rating and set a $36.00 price target on shares of Lovesac in a research note on Friday, September 13th. Finally, Roth Mkm raised their price objective on shares of Lovesac from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, September 13th.

Insider Activity at Lovesac

In related news, Director Albert Jack Krause sold 10,000 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $26.22, for a total transaction of $262,200.00. Following the transaction, the director now directly owns 177,849 shares in the company, valued at approximately $4,663,200.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Versor Investments LP bought a new stake in shares of Lovesac in the 3rd quarter valued at about $255,000. Roubaix Capital LLC purchased a new position in shares of Lovesac during the third quarter valued at approximately $4,520,000. Semanteon Capital Management LP bought a new position in shares of Lovesac during the third quarter valued at approximately $380,000. International Assets Investment Management LLC lifted its stake in Lovesac by 2,765.0% in the third quarter. International Assets Investment Management LLC now owns 11,460 shares of the company’s stock worth $328,000 after acquiring an additional 11,060 shares during the period. Finally, Valeo Financial Advisors LLC purchased a new position in Lovesac during the 3rd quarter valued at $242,000. Hedge funds and other institutional investors own 91.32% of the company’s stock.

Lovesac Stock Performance

Shares of LOVE opened at $29.29 on Friday. The firm has a market cap of $455.75 million, a P/E ratio of 57.86, a PEG ratio of 0.77 and a beta of 2.91. Lovesac has a twelve month low of $16.20 and a twelve month high of $31.30. The firm’s 50 day moving average price is $26.26 and its two-hundred day moving average price is $25.34.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings results on Thursday, September 12th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.08. The firm had revenue of $156.59 million for the quarter, compared to the consensus estimate of $154.01 million. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. On average, sell-side analysts anticipate that Lovesac will post 1.09 earnings per share for the current fiscal year.

About Lovesac

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.