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

Lovesac (NASDAQ:LOVE) had its price target trimmed by DA Davidson from $44.00 to $35.00 in a report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts also recently issued reports about the company. 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. Canaccord Genuity Group increased their target price on shares of Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, Roth Mkm increased their price objective on shares of Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $38.33.

Lovesac Stock Up 2.3 %

Lovesac stock opened at $26.34 on Friday. The company’s 50-day moving average price is $31.56 and its 200-day moving average price is $27.29. The company has a market cap of $409.82 million, a PE ratio of 51.65, a price-to-earnings-growth ratio of 0.99 and a beta of 2.97. Lovesac has a twelve month low of $18.21 and a twelve month high of $39.49.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings data on Thursday, December 12th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.02. The company had revenue of $149.90 million for the quarter, compared to analysts’ expectations of $155.26 million. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.15) earnings per share. As a group, sell-side analysts expect that Lovesac will post 1.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related 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 sale, the director now owns 177,849 shares of the company’s stock, valued at $4,663,200.78. This trade represents a 5.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Lovesac

A number of large investors have recently added to or reduced their stakes in LOVE. Price T Rowe Associates Inc. MD boosted its position 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 purchasing an additional 726 shares in the last quarter. BCGM Wealth Management LLC increased 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 valued at $3,850,000 after buying an additional 1,023 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Lovesac in the second quarter valued at about $43,000. Empowered Funds LLC boosted its holdings in Lovesac by 5.1% in the third quarter. Empowered Funds LLC now owns 49,284 shares of the company’s stock worth $1,412,000 after acquiring an additional 2,412 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Lovesac by 12.4% during the second quarter. Rhumbline Advisers now owns 22,199 shares of the company’s stock worth $501,000 after acquiring an additional 2,449 shares during the last quarter. 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.