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

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

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

Lovesac Stock Down 1.4%

Shares of NASDAQ:LOVE opened at $15.83 on Wednesday. Lovesac has a twelve month low of $10.33 and a twelve month high of $21.89. The stock’s 50 day moving average is $14.13 and its 200-day moving average is $14.00. The firm has a market capitalization of $233.97 million, a price-to-earnings ratio of 54.59, a PEG ratio of 0.78 and a beta of 2.04.

Lovesac (NASDAQ:LOVE) last issued its earnings results 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 return on equity of 2.02% and a net margin of 0.58%.The company had revenue of $248.05 million for the quarter, compared to analyst estimates of $242.77 million. During the same period in the prior year, the firm earned $2.13 earnings per share. Lovesac’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts anticipate that Lovesac will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Lovesac

In other news, CEO Shawn David Nelson bought 1,477 shares of the stock in a transaction dated Thursday, April 16th. The shares were bought at an average cost of $16.95 per share, with a total value of $25,035.15. Following the completion of the transaction, the chief executive officer directly owned 202,681 shares of the company’s stock, valued at $3,435,442.95. This trade represents a 0.73% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.46% of the stock is owned by insiders.

Institutional Investors Weigh In On Lovesac

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bastion Asset Management Inc. raised its position in Lovesac by 193.6% in the 1st quarter. Bastion Asset Management Inc. now owns 356,097 shares of the company’s stock valued at $5,290,000 after buying an additional 234,812 shares during the last quarter. BCGM Wealth Management LLC raised its position in Lovesac by 4.1% in the 1st quarter. BCGM Wealth Management LLC now owns 251,440 shares of the company’s stock valued at $3,714,000 after buying an additional 9,908 shares during the last quarter. Isthmus Partners LLC raised its position in Lovesac by 2.5% in the 1st quarter. Isthmus Partners LLC now owns 240,186 shares of the company’s stock valued at $3,548,000 after buying an additional 5,884 shares during the last quarter. Skylands Capital LLC raised its position in Lovesac by 14.3% in the 1st quarter. Skylands Capital LLC now owns 332,947 shares of the company’s stock valued at $4,918,000 after buying an additional 41,550 shares during the last quarter. Finally, 1492 Capital Management LLC purchased a new stake in Lovesac in the 1st quarter valued at $1,206,000. 91.32% of the stock is owned by hedge funds and other institutional investors.

About Lovesac

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.