Brokerages Set The Lovesac Company (NASDAQ:LOVE) Price Target at $34.50

The Lovesac Company (NASDAQ:LOVE) has been given a consensus recommendation of “Buy” by the six analysts that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have covered the stock in the last year is $34.50.

LOVE has been the topic of a number of recent analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a $36.00 target price on shares of Lovesac in a research report on Friday, September 13th. DA Davidson reiterated a “buy” rating and issued a $32.00 target price on shares of Lovesac in a research report on Thursday, October 3rd. Roth Mkm upped their price target on shares of Lovesac from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Finally, Craig Hallum lifted their price objective on Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, September 13th.

Lovesac Stock Down 1.7 %

LOVE stock opened at $29.40 on Friday. Lovesac has a 52-week low of $16.20 and a 52-week high of $31.69. The firm has a market cap of $457.46 million, a P/E ratio of 57.65, a PEG ratio of 0.77 and a beta of 2.91. The company’s 50-day simple moving average is $26.59 and its 200-day simple moving average is $25.49.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings results 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. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. The company had revenue of $156.59 million for the quarter, compared to the consensus estimate of $154.01 million. On average, analysts anticipate that Lovesac will post 1.09 earnings per share for the current fiscal year.

Insider Transactions at Lovesac

In other news, Director Albert Jack Krause sold 10,000 shares of the business’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 transaction of $262,200.00. Following the transaction, the director now directly 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 SEC, 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 modified their holdings of the stock. Marshall Wace LLP acquired a new position in shares of Lovesac during the 2nd quarter valued at about $4,328,000. Roubaix Capital LLC purchased a new position in Lovesac during the third quarter worth about $4,520,000. American Century Companies Inc. raised its stake in Lovesac by 78.6% during the second quarter. American Century Companies Inc. now owns 291,579 shares of the company’s stock worth $6,584,000 after purchasing an additional 128,285 shares during the period. Anson Funds Management LP acquired a new position in Lovesac in the 1st quarter valued at about $1,742,000. Finally, Hood River Capital Management LLC grew its stake in shares of Lovesac by 8.8% in the 2nd quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock valued at $17,477,000 after buying an additional 62,615 shares during the period. 91.32% of the stock is 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.