The Lovesac Company (NASDAQ:LOVE) Given Average Recommendation of “Buy” by Brokerages

The Lovesac Company (NASDAQ:LOVE) has been assigned an average recommendation of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have covered the stock in the last year is $38.33.

Several research analysts recently issued reports on LOVE shares. DA Davidson cut their price target on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating for the company in a report on Friday, December 13th. Roth Mkm increased their target price on Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Craig Hallum upped their price objective on Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Finally, Canaccord Genuity Group raised their target price on Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, December 2nd.

Insiders Place Their Bets

In other Lovesac news, Director Walter Field Mclallen purchased 4,000 shares of Lovesac stock in a transaction on Friday, December 20th. The shares were bought at an average price of $24.68 per share, with a total value of $98,720.00. Following the completion of the acquisition, the director now directly owns 23,540 shares of the company’s stock, valued at approximately $580,967.20. This trade represents a 20.47 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Albert Jack Krause sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total transaction of $262,200.00. Following the transaction, the director now directly owns 177,849 shares of the company’s stock, valued at approximately $4,663,200.78. This trade represents a 5.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lovesac

A number of institutional investors have recently made changes to their positions in the stock. Skylands Capital LLC increased its position in Lovesac by 6.3% during the 2nd quarter. Skylands Capital LLC now owns 218,500 shares of the company’s stock worth $4,934,000 after purchasing an additional 12,960 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Lovesac by 12.4% during the second quarter. Rhumbline Advisers now owns 22,199 shares of the company’s stock worth $501,000 after buying an additional 2,449 shares in the last quarter. Quest Partners LLC grew its holdings in shares of Lovesac by 797.6% during the second quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock worth $194,000 after buying an additional 7,617 shares in the last quarter. American Century Companies Inc. raised its position in shares of Lovesac by 78.6% in the second quarter. American Century Companies Inc. now owns 291,579 shares of the company’s stock valued at $6,584,000 after buying an additional 128,285 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Lovesac during the second quarter valued at approximately $43,000. 91.32% of the stock is owned by institutional investors and hedge funds.

Lovesac Trading Down 2.5 %

Shares of LOVE stock opened at $24.26 on Friday. The company has a market capitalization of $374.40 million, a P/E ratio of 71.35, a price-to-earnings-growth ratio of 1.49 and a beta of 2.97. The business’s 50 day moving average is $31.15 and its two-hundred day moving average is $27.11. Lovesac has a twelve month low of $18.21 and a twelve month high of $39.49.

Lovesac (NASDAQ:LOVE) last posted its quarterly earnings data on Thursday, December 12th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.02. The firm had revenue of $149.90 million for the quarter, compared to analyst estimates of $155.26 million. Lovesac had a net margin of 1.04% and a return on equity of 3.46%. Lovesac’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the firm posted ($0.15) EPS. As a group, equities analysts predict that Lovesac will post 0.5 earnings per share for the current fiscal 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.