Roth Mkm Issues Positive Forecast for Lovesac (NASDAQ:LOVE) Stock Price

Lovesac (NASDAQ:LOVE) had its target price increased by stock analysts at Roth Mkm from $31.00 to $35.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Roth Mkm’s target price suggests a potential upside of 10.27% from the stock’s previous close.

Several other analysts have also recently weighed in on LOVE. Craig Hallum lifted their price target on Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Canaccord Genuity Group reiterated a “buy” rating and issued a $36.00 price objective on shares of Lovesac in a research note on Friday, September 13th. Finally, DA Davidson reaffirmed a “buy” rating and set a $32.00 target price on shares of Lovesac in a report on Thursday, October 3rd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $35.17.

Lovesac Stock Up 0.3 %

Lovesac stock traded up $0.09 during mid-day trading on Tuesday, hitting $31.74. 10,098 shares of the company’s stock were exchanged, compared to its average volume of 284,935. The company’s 50 day simple moving average is $27.97 and its 200-day simple moving average is $26.03. Lovesac has a fifty-two week low of $18.21 and a fifty-two week high of $32.42. The firm has a market capitalization of $493.87 million, a P/E ratio of 62.24, a PEG ratio of 0.82 and a beta of 2.91.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings data on Thursday, September 12th. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.08. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. The company had revenue of $156.59 million during the quarter, compared to the consensus estimate of $154.01 million. Research analysts expect that Lovesac will post 1.09 EPS for the current year.

Insider Transactions at Lovesac

In related news, Director Albert Jack Krause sold 10,000 shares of Lovesac stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total value of $262,200.00. Following the transaction, the director now directly owns 177,849 shares of the company’s stock, valued at $4,663,200.78. The trade was a 5.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Lovesac

A number of hedge funds have recently added to or reduced their stakes in LOVE. SG Americas Securities LLC lifted its holdings in shares of Lovesac by 106.1% in the 1st quarter. SG Americas Securities LLC now owns 9,376 shares of the company’s stock worth $212,000 after purchasing an additional 4,826 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Lovesac by 12.8% during the first quarter. Russell Investments Group Ltd. now owns 13,966 shares of the company’s stock worth $316,000 after buying an additional 1,584 shares in the last quarter. Vanguard Group Inc. grew its position in Lovesac by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 841,537 shares of the company’s stock worth $19,019,000 after purchasing an additional 11,745 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Lovesac during the first quarter valued at approximately $39,000. Finally, Anson Funds Management LP bought a new stake in Lovesac during the first quarter worth $1,742,000. 91.32% of the stock is currently owned by 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.