Canaccord Genuity restated their buy rating on shares of Lovesac (NASDAQ:LOVE) in a research report released on Tuesday morning, The Fly reports. The brokerage currently has a $33.00 target price on the stock.
LOVE has been the topic of several other reports. Stifel Nicolaus reaffirmed a buy rating and set a $32.00 price objective on shares of Lovesac in a research note on Wednesday, September 11th. Oppenheimer assumed coverage on shares of Lovesac in a research note on Thursday, August 8th. They set an outperform rating and a $30.00 price target on the stock. ValuEngine raised shares of Lovesac from a hold rating to a buy rating in a research note on Friday, August 23rd. Zacks Investment Research raised shares of Lovesac from a hold rating to a buy rating and set a $23.00 price target on the stock in a research note on Tuesday. Finally, Roth Capital decreased their price target on shares of Lovesac from $47.00 to $37.00 and set a buy rating on the stock in a research note on Wednesday, September 4th. Eight equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of Buy and a consensus price target of $34.00.
Shares of Lovesac stock opened at $20.66 on Tuesday. Lovesac has a 1-year low of $15.07 and a 1-year high of $46.79. The firm’s 50-day moving average price is $18.50 and its two-hundred day moving average price is $28.27.
Lovesac (NASDAQ:LOVE) last issued its quarterly earnings data on Wednesday, September 11th. The company reported ($0.31) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.51) by $0.20. The firm had revenue of $48.10 million for the quarter, compared to analysts’ expectations of $47.78 million. Lovesac had a negative net margin of 4.06% and a negative return on equity of 9.23%. The firm’s quarterly revenue was up 44.9% compared to the same quarter last year. As a group, equities analysts anticipate that Lovesac will post -0.64 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG grew its stake in shares of Lovesac by 5.2% during the fourth quarter. Deutsche Bank AG now owns 7,441 shares of the company’s stock valued at $170,000 after purchasing an additional 367 shares during the last quarter. FNY Investment Advisers LLC lifted its holdings in Lovesac by 13.4% in the second quarter. FNY Investment Advisers LLC now owns 4,094 shares of the company’s stock valued at $127,000 after buying an additional 484 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Lovesac by 6.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 13,655 shares of the company’s stock valued at $425,000 after buying an additional 775 shares during the period. Glen Harbor Capital Management LLC acquired a new position in Lovesac in the second quarter valued at approximately $29,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in Lovesac by 1,264.4% in the first quarter. BNP Paribas Arbitrage SA now owns 1,187 shares of the company’s stock valued at $33,000 after buying an additional 1,100 shares during the period. 70.13% of the stock is currently owned by institutional investors and hedge funds.
Lovesac Company Profile
The Lovesac Company designs, manufactures, and sells foam filled furniture, sectional couches, and related accessories. 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.
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