Lovesac (NASDAQ:LOVE) Hits New 12-Month High – Should You Buy?

The Lovesac Company (NASDAQ:LOVE) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $40.00 and last traded at $40.00, with a volume of 531 shares. The stock had previously closed at $37.17.

Analyst Ratings Changes

A number of brokerages have recently commented on LOVE. Canaccord Genuity Group boosted their target price on shares of Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Craig Hallum raised their price objective on Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Roth Mkm raised their price target on Lovesac from $31.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, DA Davidson restated a “buy” rating and set a $32.00 price objective on shares of Lovesac in a research note on Thursday, October 3rd. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Lovesac currently has an average rating of “Buy” and a consensus price target of $36.67.

Lovesac Price Performance

The stock has a market cap of $622.36 million, a P/E ratio of 72.88, a price-to-earnings-growth ratio of 1.00 and a beta of 2.97. The stock’s 50-day moving average is $31.12 and its two-hundred day moving average is $27.16.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings results on Thursday, September 12th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.08. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. The business had revenue of $156.59 million during the quarter, compared to analysts’ expectations of $154.01 million. On average, analysts anticipate that The Lovesac Company will post 1.09 EPS for the current fiscal year.

Insider Transactions at Lovesac

In related news, Director Albert Jack Krause sold 10,000 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total transaction of $262,200.00. Following the completion of the transaction, the director now owns 177,849 shares in the company, valued at $4,663,200.78. The trade was a 5.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 12.33% of the company’s stock.

Institutional Trading of Lovesac

A number of large investors have recently modified their holdings of LOVE. Meeder Asset Management Inc. purchased a new stake in shares of Lovesac during the 2nd quarter worth $43,000. SG Americas Securities LLC purchased a new stake in shares of Lovesac during the 3rd quarter valued at $170,000. Quest Partners LLC boosted its position in shares of Lovesac by 797.6% in the 2nd quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock worth $194,000 after purchasing an additional 7,617 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Lovesac by 8.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock worth $218,000 after buying an additional 726 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new position in Lovesac during the 3rd quarter valued at about $231,000. Hedge funds and other institutional investors own 91.32% of the company’s stock.

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.