Brokerages Set The Lovesac Company (NASDAQ:LOVE) Price Target at $31.67

Shares of The Lovesac Company (NASDAQ:LOVE - Get Free Report) have received a consensus recommendation of "Buy" from the six research firms that are currently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $31.67.

Several research analysts recently weighed in on LOVE shares. Oppenheimer reiterated an "outperform" rating and set a $35.00 price target on shares of Lovesac in a research report on Friday, April 11th. Roth Mkm boosted their target price on shares of Lovesac from $22.00 to $28.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Canaccord Genuity Group lowered their price target on shares of Lovesac from $45.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, DA Davidson cut their price objective on shares of Lovesac from $35.00 to $24.00 and set a "buy" rating for the company in a report on Friday, April 11th.

Lovesac Price Performance

NASDAQ:LOVE traded down $0.53 during midday trading on Wednesday, hitting $18.44. The company's stock had a trading volume of 299,604 shares, compared to its average volume of 378,971. Lovesac has a fifty-two week low of $12.12 and a fifty-two week high of $39.49. The firm has a market cap of $273.74 million, a P/E ratio of 54.24, a P/E/G ratio of 0.65 and a beta of 2.48. The firm's 50 day moving average is $18.75 and its 200-day moving average is $23.55.

Lovesac (NASDAQ:LOVE - Get Free Report) last posted its earnings results on Thursday, April 10th. The company reported $2.13 earnings per share (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 net margin of 1.04% and a return on equity of 3.51%. The firm's quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.87 earnings per share. As a group, analysts forecast that Lovesac will post 0.39 EPS for the current year.

Hedge Funds Weigh In On Lovesac

Large investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC purchased a new stake in shares of Lovesac during the fourth quarter worth about $7,354,000. SG Americas Securities LLC boosted its holdings in Lovesac by 1,165.7% in the 1st quarter. SG Americas Securities LLC now owns 304,586 shares of the company's stock worth $5,537,000 after buying an additional 280,522 shares during the last quarter. Millennium Management LLC increased its stake in Lovesac by 344.8% during the 1st quarter. Millennium Management LLC now owns 302,291 shares of the company's stock worth $5,496,000 after buying an additional 234,324 shares in the last quarter. AWM Investment Company Inc. raised its holdings in shares of Lovesac by 33.2% during the fourth quarter. AWM Investment Company Inc. now owns 681,741 shares of the company's stock valued at $16,130,000 after acquiring an additional 170,045 shares during the last quarter. Finally, Senvest Management LLC raised its holdings in shares of Lovesac by 17.4% during the fourth quarter. Senvest Management LLC now owns 1,106,767 shares of the company's stock valued at $26,186,000 after acquiring an additional 163,745 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors and hedge funds.

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.