Lovesac (NASDAQ:LOVE) Stock Rating Lowered by Wall Street Zen

Lovesac (NASDAQ:LOVE) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday, Wall Street Zen reports.

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

Lovesac Price Performance

NASDAQ:LOVE opened at $13.56 on Friday. The company’s fifty day moving average price is $16.43 and its 200-day moving average price is $15.54. Lovesac has a 1-year low of $10.33 and a 1-year high of $19.25. The firm has a market capitalization of $195.54 million, a P/E ratio of 11.11, a PEG ratio of 0.37 and a beta of 2.03.

Lovesac (NASDAQ:LOVE) last posted its earnings results on Thursday, September 10th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.87. The company had revenue of $161.25 million during the quarter, compared to the consensus estimate of $161.55 million. Lovesac had a net margin of 2.56% and a return on equity of 2.57%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.45) earnings per share. Lovesac has set its Q3 2027 guidance at 0.620-0.830 EPS and its FY 2027 guidance at 0.980-1.260 EPS. Equities analysts anticipate that Lovesac will post 1.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LOVE. BlackRock Inc. acquired a new stake in shares of Lovesac during the 2nd quarter valued at about $20,250,000. Senvest Management LLC raised its holdings in Lovesac by 36.7% in the 1st quarter. Senvest Management LLC now owns 1,025,393 shares of the company’s stock worth $15,145,000 after purchasing an additional 275,252 shares during the period. AWM Investment Company Inc. purchased a new position in Lovesac during the second quarter worth approximately $10,188,000. Kanen Wealth Management LLC purchased a new position in Lovesac during the first quarter worth approximately $8,064,000. Finally, Bastion Asset Management Inc. boosted its position in Lovesac by 193.6% during the first quarter. Bastion Asset Management Inc. now owns 356,097 shares of the company’s stock worth $5,290,000 after purchasing an additional 234,812 shares in the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

About Lovesac

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.