The Lovesac Company (NASDAQ:LOVE) Receives $38.33 Average PT from Analysts

Shares of The Lovesac Company (NASDAQ:LOVE) have been assigned a consensus recommendation of “Buy” from the six analysts that are currently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have covered the stock in the last year is $38.33.

Several equities research analysts recently commented on the company. Canaccord Genuity Group raised their target price on Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, December 2nd. DA Davidson reduced their target price on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Finally, Roth Mkm upped their target price on shares of Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th.

Lovesac Trading Down 1.1 %

LOVE stock opened at $26.14 on Thursday. The stock has a 50-day moving average price of $29.76 and a two-hundred day moving average price of $27.42. The company has a market cap of $403.34 million, a PE ratio of 76.88, a price-to-earnings-growth ratio of 1.96 and a beta of 3.04. Lovesac has a 12-month low of $18.21 and a 12-month high of $39.49.

Lovesac (NASDAQ:LOVE) last posted its earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The firm had revenue of $149.90 million during the quarter, compared to the consensus estimate of $155.26 million. During the same quarter in the prior year, the company earned ($0.15) EPS. The company’s revenue was down 2.7% on a year-over-year basis. Equities analysts forecast that Lovesac will post 0.39 EPS for the current fiscal year.

Insider Transactions at Lovesac

In other news, Director Walter Field Mclallen bought 4,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was bought at an average price of $24.68 per share, for a total transaction of $98,720.00. Following the transaction, the director now owns 23,540 shares in the company, valued at $580,967.20. The trade was a 20.47 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 12.33% of the company’s stock.

Institutional Trading of Lovesac

Several institutional investors have recently added to or reduced their stakes in the business. BCGM Wealth Management LLC grew its holdings in shares of Lovesac by 0.8% during the third quarter. BCGM Wealth Management LLC now owns 134,364 shares of the company’s stock valued at $3,850,000 after purchasing an additional 1,023 shares during the last quarter. Empowered Funds LLC grew its stake in Lovesac by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 49,284 shares of the company’s stock worth $1,412,000 after buying an additional 2,412 shares during the last quarter. Rhumbline Advisers increased its position in Lovesac by 12.4% in the second quarter. Rhumbline Advisers now owns 22,199 shares of the company’s stock worth $501,000 after buying an additional 2,449 shares during the period. Geode Capital Management LLC lifted its stake in Lovesac by 1.2% in the third quarter. Geode Capital Management LLC now owns 336,210 shares of the company’s stock valued at $9,634,000 after buying an additional 3,979 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Lovesac by 1.7% during the third quarter. State Street Corp now owns 299,081 shares of the company’s stock valued at $8,569,000 after acquiring an additional 5,124 shares during the period. Institutional investors own 91.32% of the company’s stock.

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.