The Lovesac Company (NASDAQ:LOVE) Given Average Rating of “Buy” by Analysts

Shares of The Lovesac Company (NASDAQ:LOVE) have been assigned an average rating of “Buy” from the six analysts that are covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $38.33.

Several equities analysts have issued reports on LOVE shares. Canaccord Genuity Group raised 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. DA Davidson cut their price target on 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 increased their price objective on Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, December 10th.

Insider Activity at Lovesac

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

Hedge Funds Weigh In On Lovesac

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Lovesac in the third quarter valued at $170,000. Franklin Resources Inc. purchased a new stake in Lovesac in the 3rd quarter valued at about $231,000. Valeo Financial Advisors LLC purchased a new stake in Lovesac in the 3rd quarter valued at about $242,000. Versor Investments LP acquired a new position in shares of Lovesac during the 3rd quarter valued at about $255,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Lovesac by 2,765.0% during the 3rd quarter. International Assets Investment Management LLC now owns 11,460 shares of the company’s stock worth $328,000 after acquiring an additional 11,060 shares during the period. 91.32% of the stock is owned by institutional investors and hedge funds.

Lovesac Trading Down 1.1 %

Lovesac stock opened at $26.14 on Thursday. The firm has a market capitalization of $403.34 million, a P/E ratio of 76.88, a P/E/G ratio of 1.96 and a beta of 3.04. Lovesac has a twelve month low of $18.21 and a twelve month high of $39.49. The stock’s fifty day simple moving average is $29.76 and its 200-day simple moving average is $27.42.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings data on Thursday, December 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.02. The business 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 company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.15) EPS. Sell-side analysts predict that Lovesac will post 0.39 earnings per share for the current year.

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.