Lovesac (NASDAQ:LOVE) Cut to “Hold” at Wall Street Zen

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

Several other brokerages have also recently issued reports on LOVE. Roth Capital reiterated a “buy” rating on shares of Lovesac in a report on Friday, September 11th. DA Davidson dropped their target price on Lovesac from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, September 11th. Weiss Ratings upgraded shares of Lovesac from a “sell (d)” rating to a “hold (c)” rating in a research note on Thursday, September 10th. Finally, Canaccord Genuity Group reduced their target price on Lovesac from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, September 10th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.33.

Lovesac Stock Up 7.8%

Lovesac stock opened at $14.62 on Friday. Lovesac has a twelve month low of $10.33 and a twelve month high of $19.25. The company’s 50-day moving average price is $16.37 and its 200-day moving average price is $15.56. The company has a market cap of $210.82 million, a PE ratio of 11.98, a price-to-earnings-growth ratio of 0.37 and a beta of 2.03.

Lovesac (NASDAQ:LOVE) last announced its earnings results on Thursday, September 10th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.87. The firm had revenue of $161.25 million during 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 company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($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. As a group, sell-side analysts expect that Lovesac will post 1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lovesac

A number of institutional investors have recently modified their holdings of LOVE. BlackRock Inc. acquired a new position in Lovesac during the 2nd quarter worth approximately $20,250,000. AWM Investment Company Inc. purchased a new position in shares of Lovesac during the second quarter worth about $10,188,000. Kanen Wealth Management LLC purchased a new position in Lovesac during the 1st quarter worth approximately $8,064,000. Senvest Management LLC grew its position in shares of Lovesac by 36.7% during the first quarter. Senvest Management LLC now owns 1,025,393 shares of the company’s stock worth $15,145,000 after acquiring an additional 275,252 shares during the last quarter. Finally, Bastion Asset Management Inc. increased its stake in Lovesac by 193.6% in 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 period. 91.32% of the stock is owned by institutional investors and hedge funds.

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.