The Lovesac Company (NASDAQ:LOVE) Receives $35.17 Consensus Price Target from Analysts

Shares of The Lovesac Company (NASDAQ:LOVE) have received an average recommendation of “Buy” from the six analysts that are presently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $35.17.

Several brokerages have commented on LOVE. Roth Mkm boosted their price objective on shares of Lovesac from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Craig Hallum boosted their price target on Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, September 13th. DA Davidson restated a “buy” rating and set a $32.00 price objective on shares of Lovesac in a research report on Thursday, October 3rd. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $36.00 target price on shares of Lovesac in a research report on Friday, September 13th.

Insider Activity

In related news, Director Albert Jack Krause sold 10,000 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total transaction of $262,200.00. Following the sale, the director now owns 177,849 shares in the company, valued at $4,663,200.78. The trade was a 5.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.33% of the stock is owned by corporate insiders.

Institutional Trading of Lovesac

Hedge funds have recently made changes to their positions in the company. Senvest Management LLC increased its stake in shares of Lovesac by 47.3% in the third quarter. Senvest Management LLC now owns 943,022 shares of the company’s stock valued at $27,018,000 after buying an additional 302,643 shares during the period. Vanguard Group Inc. grew its holdings in Lovesac by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 841,537 shares of the company’s stock worth $19,019,000 after acquiring an additional 11,745 shares during the last quarter. Anson Funds Management LP increased its position in Lovesac by 13.9% in the 3rd quarter. Anson Funds Management LP now owns 814,363 shares of the company’s stock valued at $23,332,000 after acquiring an additional 99,651 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Lovesac by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 795,011 shares of the company’s stock valued at $17,951,000 after acquiring an additional 26,872 shares during the last quarter. Finally, Hood River Capital Management LLC lifted its holdings in shares of Lovesac by 8.8% during the second quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock worth $17,477,000 after purchasing an additional 62,615 shares during the period. 91.32% of the stock is owned by institutional investors and hedge funds.

Lovesac Stock Performance

LOVE opened at $37.72 on Wednesday. Lovesac has a 52-week low of $18.21 and a 52-week high of $38.94. The firm has a market cap of $586.92 million, a P/E ratio of 72.67, a price-to-earnings-growth ratio of 0.98 and a beta of 2.91. The business’s fifty day moving average is $29.68 and its 200-day moving average is $26.63.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings data on Thursday, September 12th. The company reported ($0.38) earnings per share (EPS) 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 net margin of 1.41% and a return on equity of 4.83%. On average, research analysts predict 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.