The Lovesac Company (NASDAQ:LOVE – Get Rating) has been assigned an average rating of "Buy" from the nine brokerages that are covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $79.13.
Several analysts have recently commented on LOVE shares. Craig Hallum reduced their target price on Lovesac to $100.00 in a research note on Thursday, June 9th. Canaccord Genuity Group reduced their target price on Lovesac from $70.00 to $60.00 in a research note on Friday. BTIG Research reduced their target price on Lovesac from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, July 21st. DA Davidson reduced their target price on Lovesac from $124.00 to $97.00 and set a "buy" rating for the company in a research note on Friday. Finally, Canaccord Genuity Group reduced their target price on Lovesac from $70.00 to $60.00 and set a "buy" rating for the company in a research note on Friday.
Get Lovesac alerts:Insiders Place Their Bets
In other Lovesac news, CEO Shawn David Nelson sold 8,000 shares of Lovesac stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $33.89, for a total transaction of $271,120.00. Following the transaction, the chief executive officer now owns 64,895 shares of the company's stock, valued at approximately $2,199,291.55. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 8.66% of the company's stock.
Hedge Funds Weigh In On Lovesac
Several hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. lifted its position in shares of Lovesac by 18.6% during the 4th quarter. Alliancebernstein L.P. now owns 1,502,883 shares of the company's stock worth $99,581,000 after buying an additional 235,220 shares in the last quarter. Wasatch Advisors Inc. grew its holdings in Lovesac by 29.0% during the first quarter. Wasatch Advisors Inc. now owns 1,014,661 shares of the company's stock valued at $54,853,000 after purchasing an additional 228,148 shares during the period. Granahan Investment Management LLC grew its holdings in Lovesac by 25.0% during the first quarter. Granahan Investment Management LLC now owns 890,522 shares of the company's stock valued at $48,142,000 after purchasing an additional 178,119 shares during the period. Hood River Capital Management LLC grew its holdings in Lovesac by 101.3% during the first quarter. Hood River Capital Management LLC now owns 821,468 shares of the company's stock valued at $44,409,000 after purchasing an additional 413,458 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Lovesac by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 750,270 shares of the company's stock worth $40,559,000 after acquiring an additional 36,912 shares during the last quarter. Institutional investors own 94.97% of the company's stock.Lovesac Trading Up 2.5 %
LOVE stock opened at $29.15 on Thursday. The stock has a 50-day moving average price of $32.93 and a 200-day moving average price of $37.55. Lovesac has a 1-year low of $25.55 and a 1-year high of $87.12. The firm has a market cap of $440.89 million, a PE ratio of 10.52, a price-to-earnings-growth ratio of 0.28 and a beta of 2.37.
Lovesac (NASDAQ:LOVE – Get Rating) last posted its quarterly earnings data on Thursday, September 8th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. Lovesac had a return on equity of 19.27% and a net margin of 7.52%. The firm had revenue of $148.50 million during the quarter, compared to analyst estimates of $130.51 million. During the same period last year, the company posted $0.52 EPS. The business's quarterly revenue was up 45.0% on a year-over-year basis. On average, analysts forecast that Lovesac will post 2.92 earnings per share for the current year.
About Lovesac
(Get Rating)
The Lovesac Company designs, manufactures, and sells furniture. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans. As of January 30, 2022, the company operated 146 showrooms.
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