The Lovesac Company (NASDAQ:LOVE) Receives Consensus Rating of “Buy” from Brokerages

Shares of The Lovesac Company (NASDAQ:LOVE) have been given an average recommendation of “Buy” by the five research firms that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $30.40.

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded Lovesac from a “sell” rating to a “hold” rating in a research note on Saturday. DA Davidson decreased their price objective on Lovesac from $35.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Canaccord Genuity Group decreased their price objective on Lovesac from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Oppenheimer reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Lovesac in a report on Friday, April 11th. Finally, Roth Mkm upped their price objective on Lovesac from $22.00 to $28.00 and gave the company a “buy” rating in a report on Friday, April 11th.

Insider Activity

In related news, Director Walter Field Mclallen acquired 1,950 shares of the stock in a transaction dated Friday, June 20th. The stock was bought at an average cost of $18.08 per share, for a total transaction of $35,256.00. Following the completion of the transaction, the director directly owned 40,000 shares of the company’s stock, valued at $723,200. The trade was a 5.12% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lovesac

Several institutional investors have recently added to or reduced their stakes in LOVE. Heck Capital Advisors LLC purchased a new stake in Lovesac in the 4th quarter valued at $26,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Lovesac during the 4th quarter valued at $49,000. AlphaQuest LLC purchased a new stake in shares of Lovesac during the 4th quarter valued at $70,000. Quarry LP increased its position in shares of Lovesac by 396.3% during the 1st quarter. Quarry LP now owns 3,052 shares of the company’s stock valued at $55,000 after purchasing an additional 2,437 shares during the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of Lovesac by 18.3% during the 4th quarter. MetLife Investment Management LLC now owns 9,233 shares of the company’s stock valued at $218,000 after purchasing an additional 1,425 shares during the last quarter. 91.32% of the stock is owned by institutional investors and hedge funds.

Lovesac Stock Performance

Shares of LOVE opened at $18.08 on Thursday. The stock has a 50 day simple moving average of $19.19 and a 200 day simple moving average of $20.41. Lovesac has a 52-week low of $12.12 and a 52-week high of $39.49. The firm has a market capitalization of $263.06 million, a PE ratio of 25.83, a P/E/G ratio of 0.58 and a beta of 2.24.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings results on Thursday, June 12th. The company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.08. Lovesac had a return on equity of 6.70% and a net margin of 1.99%. The firm had revenue of $138.37 million during the quarter, compared to the consensus estimate of $137.20 million. During the same quarter in the prior year, the firm posted ($0.83) EPS. The business’s revenue was up 4.4% on a year-over-year basis. Equities research analysts predict that Lovesac will post 0.39 EPS for the current fiscal year.

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.