The Lovesac Company (NASDAQ:LOVE) Given Average Recommendation of “Buy” by Analysts

The Lovesac Company (NASDAQ:LOVE) has earned an average rating of “Buy” from the six analysts that are covering the stock, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $31.67.

Several equities research analysts recently weighed in on the company. Canaccord Genuity Group reduced their target price on Lovesac from $45.00 to $30.00 and set a “buy” rating for the company in a report on Friday, April 11th. Oppenheimer restated an “outperform” rating and issued a $35.00 target price on shares of Lovesac in a report on Friday, April 11th. Roth Mkm boosted their target price on Lovesac from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Finally, DA Davidson reduced their target price on Lovesac from $35.00 to $24.00 and set a “buy” rating for the company in a report on Friday, April 11th.

Lovesac Price Performance

Shares of Lovesac stock opened at $19.60 on Wednesday. The firm has a market cap of $290.96 million, a price-to-earnings ratio of 57.65, a P/E/G ratio of 0.65 and a beta of 2.48. Lovesac has a 52-week low of $12.12 and a 52-week high of $39.49. The stock has a 50-day simple moving average of $18.80 and a 200-day simple moving average of $23.52.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings results on Thursday, April 10th. The company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.33. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. The business had revenue of $241.50 million during the quarter, compared to analyst estimates of $230.33 million. During the same period in the previous year, the company earned $1.87 EPS. The firm’s revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts predict that Lovesac will post 0.39 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Senvest Management LLC increased its position in Lovesac by 17.4% in the 4th quarter. Senvest Management LLC now owns 1,106,767 shares of the company’s stock worth $26,186,000 after buying an additional 163,745 shares during the period. Hood River Capital Management LLC increased its position in Lovesac by 6.4% in the 4th quarter. Hood River Capital Management LLC now owns 986,947 shares of the company’s stock worth $23,351,000 after buying an additional 59,231 shares during the period. Anson Funds Management LP increased its position in Lovesac by 1.4% in the 1st quarter. Anson Funds Management LP now owns 932,261 shares of the company’s stock worth $16,949,000 after buying an additional 13,032 shares during the period. AWM Investment Company Inc. increased its position in Lovesac by 33.2% in the 4th quarter. AWM Investment Company Inc. now owns 681,741 shares of the company’s stock worth $16,130,000 after buying an additional 170,045 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Lovesac by 9.3% during the fourth quarter. Bank of New York Mellon Corp now owns 489,613 shares of the company’s stock valued at $11,584,000 after purchasing an additional 41,751 shares during the period. 91.32% of the stock is owned by institutional investors.

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.