DA Davidson Cuts Lovesac (NASDAQ:LOVE) Price Target to $35.00

Lovesac (NASDAQ:LOVE - Get Free Report) had its price objective cut by stock 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 price objective would suggest a potential upside of 32.88% from the stock's current price.

LOVE has been the subject of a number of other reports. Canaccord Genuity Group lifted their price objective on Lovesac from $36.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, December 2nd. Roth Mkm boosted their price target on shares of Lovesac from $35.00 to $42.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Craig Hallum raised their price objective on shares of Lovesac from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Friday, September 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $38.33.

Lovesac Price Performance

Shares of NASDAQ:LOVE traded up $0.60 during midday trading on Friday, reaching $26.34. The company's stock had a trading volume of 899,095 shares, compared to its average volume of 304,321. The business's fifty day simple moving average is $31.56 and its 200-day simple moving average is $27.29. The company has a market capitalization of $409.82 million, a P/E ratio of 51.65, a P/E/G ratio of 0.99 and a beta of 2.97. Lovesac has a fifty-two week low of $18.21 and a fifty-two week high of $39.49.

Lovesac (NASDAQ:LOVE - Get Free Report) last posted its quarterly earnings data on Thursday, December 12th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.02. Lovesac had a net margin of 1.41% and a return on equity of 4.83%. The firm had revenue of $149.90 million during the quarter, compared to analysts' expectations of $155.26 million. During the same quarter last year, the company posted ($0.15) EPS. The company's quarterly revenue was down 2.7% compared to the same quarter last year. On average, analysts forecast that Lovesac will post 1.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Lovesac

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

Institutional Trading of Lovesac

A number of hedge funds and other institutional investors have recently made changes to their positions in LOVE. Meeder Asset Management Inc. bought a new stake in shares of Lovesac during the 2nd quarter worth approximately $43,000. SG Americas Securities LLC bought a new stake in Lovesac during the third quarter worth $170,000. Quest Partners LLC lifted its stake in Lovesac by 797.6% in the second 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 last quarter. Price T Rowe Associates Inc. MD lifted its stake in Lovesac by 8.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company's stock valued at $218,000 after acquiring an additional 726 shares during the last quarter. Finally, Franklin Resources Inc. bought a new position in shares of Lovesac in the 3rd quarter valued at about $231,000. 91.32% of the stock is currently owned by institutional investors and hedge funds.

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.