Lovesac (NASDAQ:LOVE) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Lovesac (NASDAQ:LOVE) from a buy rating to a hold rating in a research report sent to investors on Sunday morning,Wall Street Zen reports.

A number of other equities research analysts have also recently issued reports on the stock. DA Davidson lowered their target price on shares of Lovesac from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, September 11th. Canaccord Genuity Group cut their price target on Lovesac from $22.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, September 10th. Weiss Ratings upgraded Lovesac from a “sell (d)” rating to a “hold (c)” rating in a research report on Thursday, September 10th. Finally, Roth Capital reiterated a “buy” rating on shares of Lovesac in a research note on Friday, September 11th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Lovesac presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.33.

Lovesac Stock Performance

LOVE stock opened at $13.50 on Friday. The stock has a fifty day moving average of $16.50 and a 200-day moving average of $15.53. Lovesac has a fifty-two week low of $10.33 and a fifty-two week high of $19.25. The company has a market capitalization of $194.71 million, a price-to-earnings ratio of 11.07, a PEG ratio of 0.37 and a beta of 2.03.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings data on Thursday, September 10th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.87. The business had revenue of $161.25 million for the quarter, compared to analysts’ expectations of $161.55 million. Lovesac had a return on equity of 2.57% and a net margin of 2.56%.The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.45) EPS. Lovesac has set its Q3 2027 guidance at 0.620-0.830 EPS and its FY 2027 guidance at 0.980-1.260 EPS. Equities analysts predict that Lovesac will post 1.04 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LOVE. BlackRock Inc. bought a new stake in shares of Lovesac during the 2nd quarter valued at about $20,250,000. Senvest Management LLC raised its stake in Lovesac by 36.7% in the first quarter. Senvest Management LLC now owns 1,025,393 shares of the company’s stock valued at $15,145,000 after purchasing an additional 275,252 shares in the last quarter. AWM Investment Company Inc. bought a new stake in Lovesac during the second quarter valued at approximately $10,188,000. Kanen Wealth Management LLC bought a new stake in Lovesac during the first quarter valued at approximately $8,064,000. Finally, Bastion Asset Management Inc. lifted its position in Lovesac by 193.6% during the first quarter. Bastion Asset Management Inc. now owns 356,097 shares of the company’s stock valued at $5,290,000 after purchasing an additional 234,812 shares during the last quarter. 91.32% of the stock is currently owned by hedge funds and other institutional investors.

Lovesac Company Profile

Lovesac Company is a U.S.-based home-furnishings retailer that designs, manufactures, markets and sells modular furniture and related products. Its primary offerings include Sactionals, a configurable seating system made from interchangeable seats and sides, and Sac beanbags, along with complementary products such as ottomans, pillows, blankets, tables and other home accessories.

The company sells its products through an omnichannel model that includes company-operated showrooms, its e-commerce website and other direct-to-consumer channels.