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

Shares of The Lovesac Company (NASDAQ:LOVE) have earned a consensus rating of “Buy” from the five analysts that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $30.40.

LOVE has been the topic of a number of recent research reports. DA Davidson lowered their price objective on Lovesac from $35.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Oppenheimer reissued an “outperform” rating and set a $35.00 price objective on shares of Lovesac in a research note on Friday, April 11th. Canaccord Genuity Group lowered their price objective on Lovesac from $45.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Finally, Roth Mkm boosted their price objective on Lovesac from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, April 11th.

Lovesac Price Performance

Shares of NASDAQ:LOVE opened at $18.01 on Friday. The business’s 50 day moving average price is $19.57 and its 200-day moving average price is $21.78. The firm has a market capitalization of $262.05 million, a PE ratio of 25.73, a P/E/G ratio of 0.57 and a beta of 2.30. Lovesac has a 1 year low of $12.12 and a 1 year high of $39.49.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings results on Thursday, June 12th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.08. The firm had revenue of $138.37 million for the quarter, compared to analyst estimates of $137.20 million. Lovesac had a return on equity of 6.70% and a net margin of 1.99%. The business’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.83) earnings per share. As a group, analysts expect that Lovesac will post 0.39 earnings per share for the current year.

Institutional Investors Weigh In On Lovesac

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Heck Capital Advisors LLC purchased a new stake in Lovesac in the fourth quarter valued at $26,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Lovesac in the 4th quarter valued at $49,000. Quarry LP raised its holdings in shares of Lovesac by 396.3% in the 1st quarter. Quarry LP now owns 3,052 shares of the company’s stock valued at $55,000 after buying an additional 2,437 shares during the period. AlphaQuest LLC purchased a new stake in shares of Lovesac in the 4th quarter valued at $70,000. Finally, MetLife Investment Management LLC raised its holdings in shares of Lovesac by 18.3% in the 4th quarter. MetLife Investment Management LLC now owns 9,233 shares of the company’s stock valued at $218,000 after buying an additional 1,425 shares during the period. Hedge funds and other institutional investors own 91.32% of the company’s stock.

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.