DA Davidson Reaffirms “Buy” Rating for Lovesac (NASDAQ:LOVE)

Lovesac (NASDAQ:LOVE)‘s stock had its “buy” rating reiterated by equities researchers at DA Davidson in a research note issued on Thursday, Benzinga reports. They currently have a $32.00 target price on the stock. DA Davidson’s price target points to a potential upside of 24.80% from the company’s current price.

LOVE has been the topic of a number of other research reports. Craig Hallum raised their price target on Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Maxim Group lifted their target price on Lovesac from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Canaccord Genuity Group reissued a “buy” rating and issued a $36.00 target price on shares of Lovesac in a research report on Friday, September 13th. Finally, Roth Mkm lifted their target price on Lovesac from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $34.50.

Lovesac Trading Down 2.4 %

Shares of NASDAQ LOVE traded down $0.62 during mid-day trading on Thursday, reaching $25.64. 117,802 shares of the company’s stock were exchanged, compared to its average volume of 290,863. The firm has a market capitalization of $398.73 million, a price-to-earnings ratio of 30.16, a PEG ratio of 0.71 and a beta of 2.90. The business has a fifty day simple moving average of $24.76 and a 200 day simple moving average of $24.41. Lovesac has a twelve month low of $14.18 and a twelve month high of $30.39.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LOVE. Marshall Wace LLP bought a new position in Lovesac in the second quarter valued at approximately $4,328,000. American Century Companies Inc. boosted its stake in shares of Lovesac by 78.6% during 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 period. Anson Funds Management LP bought a new position in shares of Lovesac during the 1st quarter worth approximately $1,742,000. Hood River Capital Management LLC boosted its stake in shares of Lovesac by 8.8% during the 2nd quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock worth $17,477,000 after acquiring an additional 62,615 shares during the period. Finally, LSV Asset Management bought a new position in shares of Lovesac during the 1st quarter worth approximately $988,000. 91.32% of the stock is currently owned by institutional investors.

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.