The Lovesac Company (NASDAQ:LOVE) Receives Average Recommendation of “Buy” from Brokerages

The Lovesac Company (NASDAQ:LOVE) has earned an average rating of “Buy” from the six analysts that are covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $38.33.

LOVE has been the subject of a number of recent analyst reports. Canaccord Genuity Group upped their price objective on shares of Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Roth Mkm upped their price objective on shares of Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, DA Davidson reduced their target price on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, December 13th.

Lovesac Trading Down 1.9 %

Shares of NASDAQ LOVE opened at $26.19 on Thursday. The firm’s 50-day moving average price is $30.05 and its 200-day moving average price is $27.30. Lovesac has a 1-year low of $18.21 and a 1-year high of $39.49. The firm has a market capitalization of $404.19 million, a P/E ratio of 77.03, a P/E/G ratio of 1.49 and a beta of 3.04.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings data on Thursday, December 12th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate 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%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.15) earnings per share. Equities research analysts forecast that Lovesac will post 0.5 EPS for the current year.

Insider Transactions at Lovesac

In other Lovesac news, Director Walter Field Mclallen purchased 4,000 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average cost of $24.68 per share, with a total value of $98,720.00. Following the transaction, the director now directly owns 23,540 shares in the company, valued at approximately $580,967.20. The trade was a 20.47 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.33% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Rhumbline Advisers grew its stake in shares of Lovesac by 12.4% in the second quarter. Rhumbline Advisers now owns 22,199 shares of the company’s stock worth $501,000 after acquiring an additional 2,449 shares during the period. American Century Companies Inc. grew its stake 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 worth $6,584,000 after acquiring an additional 128,285 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Lovesac by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 795,011 shares of the company’s stock worth $17,951,000 after acquiring an additional 26,872 shares during the period. Hood River Capital Management LLC grew its position in Lovesac by 8.8% during the second quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock valued at $17,477,000 after buying an additional 62,615 shares during the period. Finally, Lombard Odier Asset Management USA Corp bought a new stake in Lovesac during the second quarter valued at approximately $346,000. 91.32% of the stock is owned by hedge funds and other institutional investors.

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.