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

Lovesac (NASDAQ:LOVE) had its price objective cut by DA Davidson from $44.00 to $35.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently issued reports on LOVE. Roth Mkm lifted their price objective on shares of Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday. Craig Hallum lifted their price target on Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, Canaccord Genuity Group upped their price objective on Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Lovesac currently has an average rating of “Buy” and an average target price of $38.33.

Lovesac Stock Up 2.3 %

NASDAQ:LOVE opened at $26.34 on Friday. The stock has a market cap of $409.82 million, a P/E ratio of 51.65, a PEG ratio of 0.99 and a beta of 2.97. The business’s 50-day moving average price is $31.56 and its two-hundred day moving average price is $27.30. Lovesac has a twelve month low of $18.21 and a twelve month high of $39.49.

Lovesac (NASDAQ:LOVE) last announced its earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.02. Lovesac had a net margin of 1.41% and a return on equity of 4.83%. The business had revenue of $149.90 million for the quarter, compared to the consensus estimate of $155.26 million. During the same period last year, the firm posted ($0.15) earnings per share. Lovesac’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities research analysts expect that Lovesac will post 1.09 EPS for the current fiscal year.

Insider Buying and Selling at Lovesac

In other news, Director Albert Jack Krause sold 10,000 shares of the stock in a transaction dated Thursday, October 3rd. The shares were 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 represents a 5.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 12.33% of the company’s stock.

Institutional Investors Weigh In On Lovesac

Institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. purchased a new stake in shares of Lovesac in the 3rd quarter worth about $231,000. Barclays PLC raised its position in shares of Lovesac by 312.7% in the 3rd quarter. Barclays PLC now owns 20,312 shares of the company’s stock worth $583,000 after acquiring an additional 15,390 shares in the last quarter. Soltis Investment Advisors LLC boosted its position in shares of Lovesac by 8.8% during the third quarter. Soltis Investment Advisors LLC now owns 86,170 shares of the company’s stock valued at $2,469,000 after purchasing an additional 6,988 shares in the last quarter. Geode Capital Management LLC grew 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 worth $9,634,000 after purchasing an additional 3,979 shares during the period. Finally, MML Investors Services LLC lifted its position in Lovesac by 46.9% during the third quarter. MML Investors Services LLC now owns 138,893 shares of the company’s stock valued at $3,979,000 after buying an additional 44,358 shares during the period. Hedge funds and other 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.