The Lovesac Company (NASDAQ:LOVE) Given Average Rating of “Buy” by Brokerages

The Lovesac Company (NASDAQ:LOVE) has earned an average rating of “Buy” from the six brokerages that are covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have covered the stock in the last year is $31.67.

LOVE has been the topic of a number of analyst reports. DA Davidson dropped their price target on Lovesac from $35.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Roth Mkm boosted their price target on shares of Lovesac from $22.00 to $28.00 and gave the company a “buy” rating in a report on Friday, April 11th. Canaccord Genuity Group decreased their price objective on shares of Lovesac from $45.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, Oppenheimer reissued an “outperform” rating and set a $35.00 target price on shares of Lovesac in a research note on Friday, April 11th.

Lovesac Price Performance

LOVE stock opened at $20.89 on Friday. The firm has a market cap of $309.05 million, a PE ratio of 61.44, a P/E/G ratio of 0.65 and a beta of 3.08. Lovesac has a 12 month low of $12.12 and a 12 month high of $39.49. The firm has a 50 day simple moving average of $18.35 and a 200 day simple moving average of $24.91.

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

Institutional Investors Weigh In On Lovesac

A number of institutional investors have recently modified their holdings of LOVE. SummerHaven Investment Management LLC increased its stake in shares of Lovesac by 1.7% in the first quarter. SummerHaven Investment Management LLC now owns 33,949 shares of the company’s stock worth $617,000 after acquiring an additional 562 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in Lovesac in the 4th quarter worth about $26,000. Charles Schwab Investment Management Inc. raised its stake in shares of Lovesac by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,524 shares of the company’s stock worth $982,000 after purchasing an additional 1,243 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Lovesac by 13.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,462 shares of the company’s stock valued at $272,000 after buying an additional 1,333 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Lovesac by 18.3% during the 4th quarter. MetLife Investment Management LLC now owns 9,233 shares of the company’s stock valued at $218,000 after buying an additional 1,425 shares during the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

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.