Analysts Set The Lovesac Company (NASDAQ:LOVE) Price Target at $31.67

Shares of The Lovesac Company (NASDAQ:LOVE) have received an average recommendation of “Buy” from the six brokerages that are presently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $31.67.

Several research firms have recently commented on LOVE. Roth Mkm upped their price target on shares of Lovesac from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. DA Davidson decreased their target price on shares of Lovesac from $35.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Oppenheimer restated an “outperform” rating and issued a $35.00 price target on shares of Lovesac in a research note on Friday, April 11th. Finally, Canaccord Genuity Group reduced their price objective on Lovesac from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, April 11th.

Lovesac Stock Down 4.0 %

Shares of NASDAQ:LOVE opened at $19.45 on Friday. The firm has a 50-day simple moving average of $18.20 and a 200 day simple moving average of $24.80. Lovesac has a fifty-two week low of $12.12 and a fifty-two week high of $39.49. The company has a market cap of $287.74 million, a PE ratio of 57.21, a P/E/G ratio of 0.65 and a beta of 3.08.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings results on Thursday, April 10th. The company reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.33. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. The business had revenue of $241.50 million for the quarter, compared to analysts’ expectations of $230.33 million. During the same period in the prior year, the firm earned $1.87 EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, research analysts forecast that Lovesac will post 0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Lovesac

A number of institutional investors have recently added to or reduced their stakes in the company. Heck Capital Advisors LLC bought a new stake in shares of Lovesac in the 4th quarter worth $26,000. Cubist Systematic Strategies LLC bought a new stake in Lovesac in the fourth quarter worth about $49,000. AlphaQuest LLC acquired a new stake in Lovesac in the 4th quarter valued at about $70,000. Franklin Resources Inc. bought a new position in shares of Lovesac during the 3rd quarter valued at about $231,000. Finally, MetLife Investment Management LLC grew its stake in shares of Lovesac by 18.3% in the 4th quarter. MetLife Investment Management LLC now owns 9,233 shares of the company’s stock worth $218,000 after purchasing an additional 1,425 shares during the last quarter. 91.32% of the stock is currently 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.