Roth Mkm Forecasts Strong Price Appreciation for Lovesac (NASDAQ:LOVE) Stock

Lovesac (NASDAQ:LOVE) had its price target upped by Roth Mkm from $31.00 to $35.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts also recently weighed in on the company. DA Davidson restated a “buy” rating and set a $32.00 target price on shares of Lovesac in a research note on Thursday, October 3rd. Canaccord Genuity Group restated a “buy” rating and set a $36.00 price objective on shares of Lovesac in a research note on Friday, September 13th. Finally, Craig Hallum raised their price objective on Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Lovesac currently has an average rating of “Buy” and an average price target of $35.17.

Lovesac Price Performance

NASDAQ LOVE opened at $34.71 on Tuesday. Lovesac has a 12 month low of $18.21 and a 12 month high of $36.88. The company has a 50-day moving average of $28.65 and a 200-day moving average of $26.21. The company has a market cap of $540.05 million, a P/E ratio of 68.41, a P/E/G ratio of 0.87 and a beta of 2.91.

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 during the quarter, compared to analysts’ expectations of $154.01 million. Lovesac had a net margin of 1.41% and a return on equity of 4.83%. As a group, equities research analysts anticipate that Lovesac will post 1.09 EPS for the current year.

Insiders Place Their Bets

In other Lovesac news, Director Albert Jack Krause sold 10,000 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total value of $262,200.00. Following the sale, the director now directly owns 177,849 shares of the company’s stock, valued at $4,663,200.78. This trade represents a 5.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 12.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lovesac

Several large investors have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC acquired a new position in shares of Lovesac during the first quarter valued at $39,000. Meeder Asset Management Inc. acquired a new position in shares of Lovesac during the second quarter valued at $43,000. SG Americas Securities LLC acquired a new position in shares of Lovesac during the third quarter valued at $170,000. Valeo Financial Advisors LLC acquired a new position in shares of Lovesac during the third quarter valued at $242,000. Finally, Quest Partners LLC increased its holdings in shares of Lovesac by 797.6% during the second quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock valued at $194,000 after purchasing an additional 7,617 shares during the period. 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.