Brokerages Set The Lovesac Company (NASDAQ:LOVE) Target Price at $38.33

Shares of The Lovesac Company (NASDAQ:LOVE) have been assigned an average recommendation of “Buy” from the six research firms that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $38.33.

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

Insider Transactions at Lovesac

In other news, Director Albert Jack Krause sold 30,000 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $26.33, for a total value of $789,900.00. Following the transaction, the director now owns 147,849 shares in the company, valued at $3,892,864.17. This represents a 16.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Walter Field Mclallen bought 4,000 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were purchased at an average price of $24.68 per share, for a total transaction of $98,720.00. Following the purchase, the director now owns 23,540 shares in the company, valued at $580,967.20. This trade represents a 20.47 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 12.33% of the company’s stock.

Institutional Investors Weigh In On Lovesac

Several institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in shares of Lovesac in the third quarter valued at $170,000. Franklin Resources Inc. purchased a new position in shares of Lovesac in the third quarter valued at $231,000. Valeo Financial Advisors LLC purchased a new position in shares of Lovesac in the third quarter valued at $242,000. Versor Investments LP purchased a new position in shares of Lovesac in the third quarter valued at $255,000. Finally, International Assets Investment Management LLC grew its holdings in shares of Lovesac by 2,765.0% in the third quarter. International Assets Investment Management LLC now owns 11,460 shares of the company’s stock valued at $328,000 after purchasing an additional 11,060 shares in the last quarter. Institutional investors own 91.32% of the company’s stock.

Lovesac Price Performance

NASDAQ:LOVE opened at $25.86 on Thursday. Lovesac has a 1-year low of $18.21 and a 1-year high of $39.49. The firm’s 50-day moving average price is $29.56 and its 200-day moving average price is $27.44. The company has a market capitalization of $399.02 million, a PE ratio of 76.06, a P/E/G ratio of 1.92 and a beta of 3.04.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings data on Thursday, December 12th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.02. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The company had revenue of $149.90 million for the quarter, compared to the consensus estimate of $155.26 million. During the same period in the prior year, the firm posted ($0.15) EPS. Lovesac’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities analysts anticipate that Lovesac will post 0.39 EPS for the current fiscal year.

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.