Shares of The Lovesac Company (NASDAQ:LOVE - Get Free Report) have received a consensus recommendation of "Buy" from the six research firms that are presently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $34.50.
Several brokerages have issued reports on LOVE. Craig Hallum upped their target price on Lovesac from $30.00 to $35.00 and gave the stock a "buy" rating in a research note on Friday, September 13th. DA Davidson reaffirmed a "buy" rating and issued a $32.00 price objective on shares of Lovesac in a research note on Thursday, October 3rd. Roth Mkm increased their target price on shares of Lovesac from $30.00 to $31.00 and gave the company a "buy" rating in a report on Friday, September 13th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $36.00 price target on shares of Lovesac in a research note on Friday, September 13th.
View Our Latest Stock Report on Lovesac
Insiders Place Their Bets
In related news, Director Albert Jack Krause sold 10,000 shares of the business's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total transaction of $262,200.00. Following the transaction, the director now owns 177,849 shares in the company, valued at $4,663,200.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 12.33% of the company's stock.
Institutional Trading of Lovesac
Several large investors have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC purchased a new position in shares of Lovesac during the 1st quarter worth approximately $39,000. Meeder Asset Management Inc. purchased a new position in Lovesac during the second quarter valued at $43,000. SG Americas Securities LLC bought a new stake in shares of Lovesac during the 3rd quarter valued at $170,000. Quest Partners LLC grew its position in shares of Lovesac by 797.6% in the 2nd quarter. Quest Partners LLC now owns 8,572 shares of the company's stock worth $194,000 after buying an additional 7,617 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Lovesac by 8.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company's stock worth $218,000 after acquiring an additional 726 shares in the last quarter. Institutional investors own 91.32% of the company's stock.
Lovesac Trading Down 0.2 %
Shares of NASDAQ:LOVE traded down $0.07 during trading on Friday, reaching $29.09. The company had a trading volume of 240,526 shares, compared to its average volume of 288,372. The company has a fifty day moving average of $26.26 and a two-hundred day moving average of $25.26. The stock has a market capitalization of $452.61 million, a P/E ratio of 57.04, a price-to-earnings-growth ratio of 0.79 and a beta of 2.91. Lovesac has a 12 month low of $16.20 and a 12 month high of $31.30.
Lovesac (NASDAQ:LOVE - Get Free Report) last released its quarterly earnings results on Thursday, September 12th. The company reported ($0.38) earnings per share for the quarter, beating analysts' consensus estimates of ($0.46) by $0.08. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. The business had revenue of $156.59 million for the quarter, compared to the consensus estimate of $154.01 million. As a group, equities research analysts predict that Lovesac will post 1.09 earnings per share for the current year.
About Lovesac
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Get Free ReportThe 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.
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