The Lovesac Company (NASDAQ:LOVE) Given Average Rating of "Buy" by Brokerages

Key Points

• The Lovesac Company has received a consensus rating of "Buy" from five research firms, with an average 12-month price target of $30.40.
• In its latest quarterly report, Lovesac reported earnings per share of ($0.73), surpassing expectations, and revenue of $138.37 million, reflecting a 4.4% increase year-over-year.
• Insider activity includes Director Walter Field Mclallen purchasing 1,950 shares at an average price of $18.08, increasing his total shares held to 40,000.

Shares of The Lovesac Company (NASDAQ:LOVE - Get Free Report) have received a consensus recommendation of "Buy" from the five research firms that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $30.40.

Several analysts have commented on LOVE shares. Oppenheimer reissued an "outperform" rating and issued a $35.00 price objective on shares of Lovesac in a report on Friday, April 11th. Wall Street Zen upgraded Lovesac from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Roth Mkm boosted their price objective on Lovesac from $22.00 to $28.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. DA Davidson lowered their price target on Lovesac from $35.00 to $24.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Canaccord Genuity Group lowered their price target on Lovesac from $45.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, April 11th.

Insider Activity at Lovesac

In other news, Director Walter Field Mclallen purchased 1,950 shares of the stock in a transaction on Friday, June 20th. The stock was purchased at an average price of $18.08 per share, with a total value of $35,256.00. Following the completion of the transaction, the director owned 40,000 shares in the company, valued at approximately $723,200. The trade was a 5.12% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 12.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lovesac

Several institutional investors and hedge funds have recently modified their holdings of LOVE. Arrowstreet Capital Limited Partnership boosted its position in shares of Lovesac by 9.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 279,682 shares of the company's stock worth $6,617,000 after buying an additional 24,559 shares during the period. Geode Capital Management LLC lifted its holdings in Lovesac by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 340,440 shares of the company's stock worth $8,057,000 after buying an additional 4,230 shares in the last quarter. Trexquant Investment LP lifted its holdings in Lovesac by 122.9% in the 4th quarter. Trexquant Investment LP now owns 43,747 shares of the company's stock worth $1,035,000 after buying an additional 24,121 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Lovesac by 24.8% in the 4th quarter. Wells Fargo & Company MN now owns 9,823 shares of the company's stock worth $232,000 after buying an additional 1,950 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Lovesac by 10.6% in the 4th quarter. Barclays PLC now owns 22,472 shares of the company's stock worth $531,000 after buying an additional 2,160 shares in the last quarter. Hedge funds and other institutional investors own 91.32% of the company's stock.

Lovesac Trading Down 0.0%

Shares of LOVE stock traded down $0.00 during mid-day trading on Monday, reaching $18.19. The stock had a trading volume of 193,542 shares, compared to its average volume of 418,269. The business's fifty day moving average is $18.72 and its 200-day moving average is $19.65. The firm has a market cap of $264.59 million, a price-to-earnings ratio of 25.94, a PEG ratio of 0.58 and a beta of 2.20. Lovesac has a 1-year low of $12.12 and a 1-year high of $39.49.

Lovesac (NASDAQ:LOVE - Get Free Report) last posted its earnings results on Thursday, June 12th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.08. The firm had revenue of $138.37 million for the quarter, compared to analyst estimates of $137.20 million. Lovesac had a return on equity of 6.70% and a net margin of 1.99%. Lovesac's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the company earned ($0.83) earnings per share. On average, analysts forecast that Lovesac will post 0.39 earnings per share for the current 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.