DA Davidson Issues Pessimistic Forecast for Lovesac (NASDAQ:LOVE) Stock Price

Lovesac (NASDAQ:LOVE) had its price objective decreased by analysts at DA Davidson from $44.00 to $35.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s target price would indicate a potential upside of 32.18% from the stock’s previous close.

A number of other research firms have also recently commented on LOVE. Roth Mkm raised their price target on shares of Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday. Canaccord Genuity Group upped 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. Finally, Craig Hallum lifted their price target on shares of Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $38.33.

Lovesac Trading Up 2.9 %

LOVE stock traded up $0.74 during midday trading on Friday, hitting $26.48. The stock had a trading volume of 563,934 shares, compared to its average volume of 302,810. The business has a fifty day moving average price of $31.54 and a two-hundred day moving average price of $27.30. Lovesac has a 1-year low of $18.21 and a 1-year high of $39.49. The firm has a market cap of $412.00 million, a P/E ratio of 51.92, a price-to-earnings-growth ratio of 0.99 and a beta of 2.97.

Lovesac (NASDAQ:LOVE) last released its earnings results on Thursday, December 12th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.02. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. The business had revenue of $149.90 million during the quarter, compared to analysts’ expectations of $155.26 million. During the same quarter last year, the firm posted ($0.15) earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. On average, equities analysts anticipate that Lovesac will post 1.09 EPS for the current year.

Insider Activity at Lovesac

In related news, Director Albert Jack Krause sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $26.22, for a total transaction of $262,200.00. Following the transaction, the director now directly owns 177,849 shares of the company’s stock, valued at $4,663,200.78. This trade represents a 5.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Lovesac

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millrace Asset Group Inc. raised its stake in shares of Lovesac by 63.0% during the 3rd quarter. Millrace Asset Group Inc. now owns 68,503 shares of the company’s stock worth $1,963,000 after purchasing an additional 26,481 shares during the period. Dimensional Fund Advisors LP raised its position in Lovesac by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 795,011 shares of the company’s stock worth $17,951,000 after acquiring an additional 26,872 shares during the period. Hood River Capital Management LLC raised its position in Lovesac by 8.8% in the second quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock worth $17,477,000 after acquiring an additional 62,615 shares during the period. Anson Funds Management LP boosted its stake in Lovesac by 13.9% in the third quarter. Anson Funds Management LP now owns 814,363 shares of the company’s stock valued at $23,332,000 after acquiring an additional 99,651 shares during the last quarter. Finally, Roubaix Capital LLC purchased a new stake in shares of Lovesac during the 3rd quarter worth approximately $4,520,000. Hedge funds and other institutional investors own 91.32% of the company’s stock.

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.