The Lovesac Company (NASDAQ:LOVE) Receives $31.67 Consensus Price Target from Brokerages

Shares of The Lovesac Company (NASDAQ:LOVE - Get Free Report) have received an average rating of "Buy" from the six brokerages that are covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $31.67.

Several research analysts have recently commented on the stock. Roth Mkm raised their price objective 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. Oppenheimer reiterated an "outperform" rating and issued a $35.00 price target on shares of Lovesac in a report on Friday, April 11th. Canaccord Genuity Group reduced their target price 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 decreased their price objective on shares of Lovesac from $35.00 to $24.00 and set a "buy" rating for the company in a research note on Friday, April 11th.

Institutional Trading of Lovesac

Several hedge funds have recently modified their holdings of the company. Senvest Management LLC boosted its stake in Lovesac by 17.4% during the 4th quarter. Senvest Management LLC now owns 1,106,767 shares of the company's stock worth $26,186,000 after acquiring an additional 163,745 shares during the last quarter. Hood River Capital Management LLC grew its position in Lovesac by 6.4% in the fourth quarter. Hood River Capital Management LLC now owns 986,947 shares of the company's stock valued at $23,351,000 after purchasing an additional 59,231 shares in the last quarter. Anson Funds Management LP raised its position in Lovesac by 12.9% during the fourth quarter. Anson Funds Management LP now owns 919,229 shares of the company's stock worth $21,749,000 after acquiring an additional 104,866 shares in the last quarter. AWM Investment Company Inc. raised its holdings in shares of Lovesac by 33.2% in the 4th quarter. AWM Investment Company Inc. now owns 681,741 shares of the company's stock valued at $16,130,000 after purchasing an additional 170,045 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Lovesac by 9.3% in the 4th quarter. Bank of New York Mellon Corp now owns 489,613 shares of the company's stock valued at $11,584,000 after acquiring an additional 41,751 shares during the period. Institutional investors and hedge funds own 91.32% of the company's stock.

Lovesac Price Performance

Shares of NASDAQ:LOVE traded up $0.09 during trading on Friday, reaching $19.54. 123,484 shares of the company were exchanged, compared to its average volume of 373,584. Lovesac has a 12-month low of $12.12 and a 12-month high of $39.49. The firm has a market capitalization of $289.02 million, a PE ratio of 57.49, a P/E/G ratio of 0.65 and a beta of 3.08. The business's fifty day simple moving average is $18.20 and its 200-day simple moving average is $24.80.

Lovesac (NASDAQ:LOVE - Get Free Report) last issued its earnings results on Thursday, April 10th. The company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.33. The firm had revenue of $241.50 million during 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 was down 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.87 earnings per share. On average, sell-side analysts anticipate that Lovesac will post 0.39 EPS for the current fiscal year.

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.