Lovesac (NASDAQ:LOVE) Price Target Raised to $28.00 at Roth Mkm

Lovesac (NASDAQ:LOVE) had its target price raised by Roth Mkm from $22.00 to $28.00 in a report issued on Friday morning,Benzinga reports. Roth Mkm currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on LOVE. DA Davidson dropped their target price on Lovesac from $35.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday. Canaccord Genuity Group reduced their price target on Lovesac from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Friday. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Lovesac has a consensus rating of “Buy” and an average target price of $31.67.

Lovesac Stock Down 0.8 %

LOVE opened at $18.34 on Friday. The stock has a market capitalization of $283.04 million, a price-to-earnings ratio of 53.94, a PEG ratio of 0.65 and a beta of 3.08. The firm has a 50 day moving average price of $18.93 and a 200-day moving average price of $25.35. Lovesac has a twelve month low of $12.12 and a twelve month high of $39.49.

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

Insider Activity

In related news, Director Albert Jack Krause sold 30,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were 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 approximately $3,892,864.17. The trade was a 16.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 12.33% of the company’s stock.

Institutional Investors Weigh In On Lovesac

Several large investors have recently added to or reduced their stakes in the stock. Heck Capital Advisors LLC purchased a new position in shares of Lovesac in the 4th quarter worth approximately $26,000. Cubist Systematic Strategies LLC purchased a new stake in Lovesac in the 4th quarter valued at about $49,000. AlphaQuest LLC bought a new position in Lovesac in the 4th quarter worth about $70,000. Franklin Resources Inc. purchased a new position in shares of Lovesac during the third quarter worth approximately $231,000. Finally, MetLife Investment Management LLC increased its position in shares of Lovesac by 18.3% during the fourth quarter. MetLife Investment Management LLC now owns 9,233 shares of the company’s stock worth $218,000 after acquiring an additional 1,425 shares during the period. 91.32% of the stock is owned by 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.