Lovesac (NASDAQ:LOVE) Given New $32.00 Price Target at DA Davidson

Lovesac (NASDAQ:LOVE) had its price objective upped by stock analysts at DA Davidson from $24.00 to $32.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 31.96% from the company’s previous close.

Other research analysts have also issued reports about the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $36.00 price target on shares of Lovesac in a research note on Friday. Oppenheimer reduced their target price on Lovesac from $60.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Roth Mkm reissued a “buy” rating and issued a $30.00 target price on shares of Lovesac in a research report on Tuesday, June 11th. Finally, Maxim Group started coverage on shares of Lovesac in a report on Wednesday, April 17th. They set a “buy” rating and a $36.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $33.80.

Lovesac Stock Down 7.7 %

Shares of NASDAQ:LOVE opened at $24.25 on Friday. The business has a 50-day moving average price of $24.59 and a 200-day moving average price of $24.04. The stock has a market cap of $375.63 million, a price-to-earnings ratio of 28.53, a PEG ratio of 0.69 and a beta of 2.86. Lovesac has a 52-week low of $14.18 and a 52-week high of $29.81.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings data on Thursday, June 13th. The company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($0.99) by $0.16. The business had revenue of $132.64 million for the quarter, compared to analyst estimates of $128.20 million. Lovesac had a return on equity of 7.64% and a net margin of 2.17%. As a group, equities analysts anticipate that Lovesac will post 1.09 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Keith R. Siegner bought 4,800 shares of the business’s stock in a transaction dated Friday, April 19th. The shares were acquired at an average price of $20.80 per share, for a total transaction of $99,840.00. Following the completion of the transaction, the chief financial officer now owns 4,800 shares of the company’s stock, valued at $99,840. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Andrew R. Heyer bought 3,856 shares of Lovesac stock in a transaction dated Tuesday, April 16th. The stock was bought at an average price of $18.76 per share, for a total transaction of $72,338.56. Following the purchase, the director now owns 3,856 shares of the company’s stock, valued at $72,338.56. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Keith R. Siegner bought 4,800 shares of the company’s stock in a transaction on Friday, April 19th. The shares were acquired at an average price of $20.80 per share, for a total transaction of $99,840.00. Following the transaction, the chief financial officer now directly owns 4,800 shares in the company, valued at approximately $99,840. The disclosure for this purchase can be found here. 12.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lovesac

Several institutional investors have recently made changes to their positions in the stock. EntryPoint Capital LLC acquired a new stake in shares of Lovesac in the 1st quarter worth approximately $39,000. Byrne Asset Management LLC increased its holdings in shares of Lovesac by 515.4% during the 1st quarter. Byrne Asset Management LLC now owns 3,200 shares of the company’s stock worth $72,000 after buying an additional 2,680 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Lovesac in the 4th quarter valued at about $116,000. Barclays PLC raised its stake in shares of Lovesac by 15.2% in the 3rd quarter. Barclays PLC now owns 6,210 shares of the company’s stock valued at $124,000 after acquiring an additional 818 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Lovesac by 8.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock valued at $218,000 after buying an additional 726 shares in the last quarter. 91.32% of the stock is currently owned by hedge funds and other institutional investors.

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.