Lovesac (NASDAQ:LOVE) Releases Earnings Results, Beats Estimates By $0.33 EPS

Lovesac (NASDAQ:LOVE - Get Free Report) released its quarterly earnings results on Thursday. The company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.33, Zacks reports. The business had revenue of $241.50 million for the quarter, compared to analysts' expectations of $230.33 million. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.87 earnings per share.

Lovesac Trading Down 0.3 %

Lovesac stock traded down $0.06 during mid-day trading on Tuesday, hitting $19.14. The company had a trading volume of 535,162 shares, compared to its average volume of 364,172. Lovesac has a 12 month low of $12.12 and a 12 month high of $39.49. The stock's 50 day moving average price is $18.84 and its two-hundred day moving average price is $25.27. The company has a market capitalization of $295.39 million, a PE ratio of 56.29, a price-to-earnings-growth ratio of 0.65 and a beta of 3.08.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on LOVE shares. 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 research report on Friday. DA Davidson decreased their target price on Lovesac from $35.00 to $24.00 and set a "buy" rating for the company in a research report on Friday. Canaccord Genuity Group lowered their target price on Lovesac from $45.00 to $30.00 and set a "buy" rating for the company in a research note on Friday. Finally, Oppenheimer reiterated an "outperform" rating and issued a $35.00 price objective on shares of Lovesac in a report on Friday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Lovesac currently has a consensus rating of "Buy" and an average target price of $31.67.

Insider Transactions at Lovesac

In other Lovesac news, Director Albert Jack Krause sold 30,000 shares of the firm's stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $26.33, for a total transaction of $789,900.00. Following the completion of the sale, the director now directly owns 147,849 shares in the company, valued at approximately $3,892,864.17. This trade represents a 16.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.33% of the stock is owned by insiders.

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.