Roth Mkm Forecasts Strong Price Appreciation for Lovesac (NASDAQ:LOVE) Stock

Lovesac (NASDAQ:LOVE) had its target price hoisted by Roth Mkm from $31.00 to $35.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also issued reports on the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $36.00 target price on shares of Lovesac in a report on Friday, September 13th. Craig Hallum increased their price target on Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, DA Davidson reiterated a “buy” rating and issued a $32.00 price target on shares of Lovesac in a research report on Thursday, October 3rd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $35.17.

Lovesac Stock Down 1.9 %

NASDAQ:LOVE opened at $34.71 on Tuesday. The business’s 50-day moving average price is $28.65 and its 200 day moving average price is $26.21. The firm has a market cap of $540.05 million, a P/E ratio of 68.41, a PEG ratio of 0.87 and a beta of 2.91. Lovesac has a 52-week low of $18.21 and a 52-week high of $36.88.

Lovesac (NASDAQ:LOVE) last released its 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. The firm had revenue of $156.59 million for the quarter, compared to analyst estimates of $154.01 million. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. Sell-side analysts expect that Lovesac will post 1.09 EPS for the current year.

Insider Activity at Lovesac

In other Lovesac news, Director Albert Jack Krause sold 10,000 shares of the firm’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 completion of the sale, the director now directly owns 177,849 shares in the company, valued at approximately $4,663,200.78. This trade represents a 5.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lovesac

A number of institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in 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 acquiring an additional 726 shares during the period. BCGM Wealth Management LLC boosted its position in Lovesac by 0.8% during the 3rd quarter. BCGM Wealth Management LLC now owns 134,364 shares of the company’s stock worth $3,850,000 after acquiring an additional 1,023 shares during the period. Russell Investments Group Ltd. boosted its position in Lovesac by 12.8% during the 1st quarter. Russell Investments Group Ltd. now owns 13,966 shares of the company’s stock worth $316,000 after acquiring an additional 1,584 shares during the period. EntryPoint Capital LLC acquired a new stake in Lovesac during the 1st quarter worth about $39,000. Finally, Meeder Asset Management Inc. acquired a new stake in Lovesac during the 2nd quarter worth about $43,000. 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.