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

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

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

Lovesac Trading Up 2.3 %

NASDAQ:LOVE opened at $23.52 on Monday. The firm has a market cap of $362.91 million, a PE ratio of 69.18, a price-to-earnings-growth ratio of 0.65 and a beta of 3.02. The stock has a fifty day moving average price of $25.65 and a 200 day moving average price of $27.10. Lovesac has a 12-month low of $18.21 and a 12-month high of $39.49.

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

Insider Buying and Selling at Lovesac

In related news, Director Albert Jack Krause sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $26.33, for a total value of $789,900.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Walter Field Mclallen bought 4,000 shares of the stock in a transaction on Friday, December 20th. The shares were bought at an average price of $24.68 per share, for a total transaction of $98,720.00. Following the acquisition, the director now owns 23,540 shares in the company, valued at $580,967.20. The trade was a 20.47 % increase in their position. The disclosure for this purchase can be found here. 12.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Heck Capital Advisors LLC acquired a new stake in shares of Lovesac during the fourth quarter valued at about $26,000. AlphaQuest LLC acquired a new stake in shares of Lovesac during the fourth quarter valued at about $70,000. SG Americas Securities LLC acquired a new stake in shares of Lovesac during the third quarter valued at about $170,000. MetLife Investment Management LLC grew its stake in Lovesac by 18.3% in the fourth quarter. MetLife Investment Management LLC now owns 9,233 shares of the company’s stock worth $218,000 after purchasing an additional 1,425 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new position in Lovesac in the third quarter worth about $231,000. 91.32% of the stock is owned by hedge funds and other institutional investors.

About Lovesac

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.