Analysts Set The Lovesac Company (NASDAQ:LOVE) PT at $38.33

Shares of The Lovesac Company (NASDAQ:LOVE) have earned an average rating of “Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued a report on the stock in the last year is $38.33.

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

Lovesac Stock Down 3.8 %

Shares of NASDAQ LOVE opened at $17.10 on Friday. The stock has a market capitalization of $263.90 million, a price-to-earnings ratio of 50.29, a price-to-earnings-growth ratio of 0.65 and a beta of 3.05. The firm has a 50-day moving average price of $23.70 and a 200 day moving average price of $26.82. Lovesac has a 52 week low of $16.70 and a 52 week high of $39.49.

Lovesac (NASDAQ:LOVE) last announced 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. The company had revenue of $149.90 million during the quarter, compared to analysts’ expectations of $155.26 million. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.15) earnings per share. Equities research analysts expect that Lovesac will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling at Lovesac

In other news, Director Albert Jack Krause sold 30,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $26.33, for a total transaction of $789,900.00. Following the transaction, the director now directly owns 147,849 shares of the company’s stock, valued at approximately $3,892,864.17. The trade was a 16.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Walter Field Mclallen bought 4,000 shares of Lovesac stock in a transaction dated Friday, December 20th. The shares were purchased at an average cost of $24.68 per share, for a total transaction of $98,720.00. Following the completion of the transaction, the director now owns 23,540 shares of the company’s stock, valued at approximately $580,967.20. This represents a 20.47 % increase in their position. The disclosure for this purchase can be found here. 12.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Lovesac

Institutional investors have recently added to or reduced their stakes in the stock. Heck Capital Advisors LLC acquired a new stake in Lovesac in the fourth quarter valued at $26,000. Cubist Systematic Strategies LLC acquired a new stake in Lovesac in the fourth quarter valued at $49,000. AlphaQuest LLC acquired a new stake in Lovesac in the fourth quarter valued at $70,000. Franklin Resources Inc. acquired a new stake in Lovesac in the third quarter valued at $231,000. Finally, Versor Investments LP acquired a new stake in Lovesac in the third quarter valued at $255,000. 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.