The Lovesac Company (NASDAQ:LOVE) Receives $22.67 Consensus PT from Analysts

Shares of The Lovesac Company (NASDAQ:LOVE) have been assigned an average rating of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $22.6667.

A number of research firms have weighed in on LOVE. Weiss Ratings reissued a “sell (d)” rating on shares of Lovesac in a report on Friday, March 27th. Roth Mkm reaffirmed a “buy” rating on shares of Lovesac in a report on Friday, March 27th. Finally, Wall Street Zen raised shares of Lovesac from a “sell” rating to a “hold” rating in a report on Saturday, April 4th.

Lovesac Trading Up 4.4%

LOVE stock opened at $17.65 on Friday. Lovesac has a twelve month low of $10.33 and a twelve month high of $21.90. The company’s 50 day moving average is $13.24 and its two-hundred day moving average is $13.93. The stock has a market cap of $258.04 million, a P/E ratio of 60.86, a PEG ratio of 0.82 and a beta of 2.21.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings data on Thursday, March 26th. The company reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.19. Lovesac had a net margin of 0.58% and a return on equity of 2.02%. The company had revenue of $248.05 million for the quarter, compared to analysts’ expectations of $242.77 million. During the same quarter last year, the company earned $2.13 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts predict that Lovesac will post 0.39 earnings per share for the current year.

Hedge Funds Weigh In On Lovesac

A number of institutional investors have recently modified their holdings of LOVE. AQR Capital Management LLC increased its holdings in shares of Lovesac by 391.8% in the 1st quarter. AQR Capital Management LLC now owns 111,727 shares of the company’s stock valued at $2,031,000 after acquiring an additional 89,007 shares during the period. Millennium Management LLC increased its holdings in shares of Lovesac by 344.8% in the 1st quarter. Millennium Management LLC now owns 302,291 shares of the company’s stock valued at $5,496,000 after acquiring an additional 234,324 shares during the period. Empowered Funds LLC increased its holdings in shares of Lovesac by 8.1% in the 1st quarter. Empowered Funds LLC now owns 55,925 shares of the company’s stock valued at $1,017,000 after acquiring an additional 4,200 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Lovesac by 756.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 58,885 shares of the company’s stock valued at $1,072,000 after acquiring an additional 52,010 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of Lovesac by 15.9% in the 2nd quarter. Rhumbline Advisers now owns 24,550 shares of the company’s stock valued at $447,000 after acquiring an additional 3,376 shares during the period. 91.32% of the stock is owned by institutional investors and hedge funds.

Lovesac Company Profile

Lovesac, trading on NASDAQ under the symbol LOVE, is an American furniture company known for its modular seating systems and distinctive foam-filled “Sacs.” Founded in 1995 by Shawn Nelson, the company has built a reputation for innovative design that emphasizes comfort, durability and adaptability. Its core offerings include Sactionals—customizable sectional sofas assembled from individual “Sactional” cubes—and the original Lovesac Sacs, large fabric-covered bean bag chairs available in a variety of sizes and materials.

In addition to seating solutions, Lovesac has expanded into home entertainment products with the introduction of the Stage, a modular soundbar system designed to integrate seamlessly with Sactionals.