DA Davidson Has Lowered Expectations for Lovesac (NASDAQ:LOVE) Stock Price

Lovesac (NASDAQ:LOVE) had its price target dropped by equities research analysts at DA Davidson from $44.00 to $35.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s target price points to a potential upside of 32.88% from the company’s current price.

LOVE has been the subject of a number of other reports. Craig Hallum increased 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. Canaccord Genuity Group upped their price objective on shares of Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, Roth Mkm raised their target price on shares of Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $38.33.

Lovesac Trading Up 2.3 %

LOVE stock opened at $26.34 on Friday. Lovesac has a 12-month low of $18.21 and a 12-month high of $39.49. The business’s 50-day moving average is $31.56 and its 200 day moving average is $27.29. The stock has a market cap of $409.82 million, a price-to-earnings ratio of 51.65, a PEG ratio of 0.99 and a beta of 2.97.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. The firm had revenue of $149.90 million for the quarter, compared to analyst estimates of $155.26 million. During the same period in the previous year, the company posted ($0.15) earnings per share. The business’s revenue was down 2.7% on a year-over-year basis. As a group, equities analysts forecast that Lovesac will post 1.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Albert Jack Krause sold 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 177,849 shares in the company, valued at approximately $4,663,200.78. This represents a 5.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 12.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lovesac

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Lovesac by 8.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock worth $218,000 after purchasing an additional 726 shares during the period. Skylands Capital LLC boosted its stake in Lovesac by 6.3% during the second quarter. Skylands Capital LLC now owns 218,500 shares of the company’s stock worth $4,934,000 after buying an additional 12,960 shares during the period. Rhumbline Advisers increased its position in shares of Lovesac by 12.4% during the second quarter. Rhumbline Advisers now owns 22,199 shares of the company’s stock valued at $501,000 after acquiring an additional 2,449 shares during the last quarter. Quest Partners LLC raised its stake in shares of Lovesac by 797.6% in the 2nd quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock valued at $194,000 after acquiring an additional 7,617 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Lovesac by 78.6% in the 2nd quarter. American Century Companies Inc. now owns 291,579 shares of the company’s stock worth $6,584,000 after acquiring an additional 128,285 shares during the last quarter. Hedge funds and other institutional investors 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.