Lovesac (NASDAQ:LOVE) Raised to Hold at Wall Street Zen

Lovesac (NASDAQ:LOVE) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other equities analysts also recently weighed in on the stock. Maxim Group set a $26.00 price target on shares of Lovesac in a research note on Friday, December 12th. DA Davidson lowered their target price on Lovesac from $24.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, December 11th. Canaccord Genuity Group dropped their target price on Lovesac from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, December 12th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lovesac in a research note on Friday, March 27th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lovesac has a consensus rating of “Moderate Buy” and a consensus target price of $26.20.

Lovesac Stock Performance

LOVE stock opened at $14.37 on Friday. The firm has a 50 day simple moving average of $12.73 and a 200 day simple moving average of $13.99. Lovesac has a 52 week low of $10.33 and a 52 week high of $21.90. The stock has a market cap of $210.09 million, a P/E ratio of 49.55, a P/E/G ratio of 0.63 and a beta of 2.21.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings data on Thursday, March 26th. The company reported $2.19 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.19. Lovesac had a net margin of 0.58% and a return on equity of 2.07%. The firm had revenue of $248.05 million for the quarter, compared to analyst estimates of $242.77 million. During the same quarter in the prior year, the business earned $2.13 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts predict that Lovesac will post 0.39 EPS for the current year.

Institutional Investors Weigh In On Lovesac

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets increased its position in Lovesac by 130.4% during the second quarter. BNP Paribas Financial Markets now owns 1,938 shares of the company’s stock worth $35,000 after buying an additional 1,097 shares during the last quarter. Numerai GP LLC lifted its position in shares of Lovesac by 10.7% in the third quarter. Numerai GP LLC now owns 11,805 shares of the company’s stock worth $200,000 after buying an additional 1,145 shares during the last quarter. Barclays PLC boosted its stake in shares of Lovesac by 7.5% during the 4th quarter. Barclays PLC now owns 28,576 shares of the company’s stock worth $421,000 after acquiring an additional 1,999 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Lovesac by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,186 shares of the company’s stock worth $607,000 after acquiring an additional 2,165 shares in the last quarter. Finally, MML Investors Services LLC increased its holdings in shares of Lovesac by 1.0% during the 2nd quarter. MML Investors Services LLC now owns 218,845 shares of the company’s stock valued at $3,983,000 after acquiring an additional 2,203 shares during the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

About Lovesac

Lovesac, trading on NASDAQ under the symbol LOVE, is an American furniture company known for its modular seating systems and distinctive foam-filled “Sacs.” Founded in 1995 by Shawn Nelson, the company has built a reputation for innovative design that emphasizes comfort, durability and adaptability. Its core offerings include Sactionals—customizable sectional sofas assembled from individual “Sactional” cubes—and the original Lovesac Sacs, large fabric-covered bean bag chairs available in a variety of sizes and materials.

In addition to seating solutions, Lovesac has expanded into home entertainment products with the introduction of the Stage, a modular soundbar system designed to integrate seamlessly with Sactionals.