The Lovesac (NASDAQ:LOVE) Raised to “C-” at TheStreet


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TheStreet upgraded shares of The Lovesac (NASDAQ:LOVE) from a d rating to a c- rating in a research note released on Wednesday, TheStreetRatingsTable reports.

Several other equities research analysts have also issued reports on the stock. Oppenheimer reissued a buy rating and set a $60.00 target price on shares of The Lovesac in a research note on Tuesday, January 26th. Roth Capital increased their target price on shares of The Lovesac from $50.00 to $80.00 and gave the stock a buy rating in a research note on Tuesday. DA Davidson upped their price target on shares of The Lovesac from $57.00 to $85.00 and gave the stock a buy rating in a research report on Thursday. Stifel Nicolaus restated a buy rating and set a $66.00 price target on shares of The Lovesac in a research report on Monday, March 15th. Finally, BTIG Research upped their price target on shares of The Lovesac from $62.00 to $77.00 and gave the stock a buy rating in a research report on Thursday. Eight analysts have rated the stock with a buy rating, The company currently has a consensus rating of Buy and an average price target of $75.00.

NASDAQ:LOVE opened at $70.00 on Wednesday. The Lovesac has a one year low of $6.75 and a one year high of $72.33. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -538.46, a PEG ratio of 13.79 and a beta of 2.58. The firm’s fifty day moving average is $59.83 and its two-hundred day moving average is $45.22.

The Lovesac (NASDAQ:LOVE) last posted its quarterly earnings results on Tuesday, April 13th. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $0.58 by $0.79. The Lovesac had a negative net margin of 0.55% and a negative return on equity of 1.84%. The company had revenue of $129.70 million for the quarter, compared to analyst estimates of $116.13 million. During the same period in the prior year, the company earned $0.37 earnings per share. The firm’s revenue was up 40.7% on a year-over-year basis. On average, research analysts predict that The Lovesac will post 0.1 EPS for the current year.

In related news, CEO Shawn David Nelson sold 6,000 shares of the stock in a transaction that occurred on Tuesday, January 19th. The shares were sold at an average price of $49.34, for a total transaction of $296,040.00. Following the completion of the transaction, the chief executive officer now owns 118,523 shares of the company’s stock, valued at approximately $5,847,924.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew R. Heyer sold 105,000 shares of the stock in a transaction that occurred on Thursday, February 18th. The stock was sold at an average price of $53.78, for a total transaction of $5,646,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 321,000 shares of company stock valued at $18,414,840 in the last 90 days. Insiders own 31.31% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Alliancebernstein L.P. boosted its position in shares of The Lovesac by 1.9% during the 4th quarter. Alliancebernstein L.P. now owns 1,491,128 shares of the company’s stock worth $64,253,000 after purchasing an additional 27,705 shares during the period. Hood River Capital Management LLC boosted its position in The Lovesac by 13.0% in the 4th quarter. Hood River Capital Management LLC now owns 771,620 shares of the company’s stock valued at $33,249,000 after buying an additional 88,729 shares during the period. BlackRock Inc. boosted its position in The Lovesac by 9.4% in the 4th quarter. BlackRock Inc. now owns 718,294 shares of the company’s stock valued at $30,950,000 after buying an additional 61,498 shares during the period. Federated Hermes Inc. boosted its position in The Lovesac by 2.9% in the 4th quarter. Federated Hermes Inc. now owns 687,655 shares of the company’s stock valued at $29,631,000 after buying an additional 19,649 shares during the period. Finally, Morgan Stanley boosted its position in The Lovesac by 1,492.4% in the 3rd quarter. Morgan Stanley now owns 211,855 shares of the company’s stock valued at $5,871,000 after buying an additional 198,551 shares during the period. 84.16% of the stock is owned by hedge funds and other institutional investors.

About The Lovesac

The Lovesac Company designs, manufactures, and sells foam filled furniture, sectional couches, and related accessories. The company offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, foot sac blankets, decorative pillows, fitted seat tables, and ottomans.

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Analyst Recommendations for The Lovesac (NASDAQ:LOVE)

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