The Lovesac Company (NASDAQ:LOVE) Receives $30.40 Average PT from 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 been assigned an average rating of "Buy" from the five analysts that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $30.40.

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

Lovesac Price Performance

Shares of LOVE stock traded down $0.14 during mid-day trading on Monday, hitting $18.22. 139,659 shares of the stock traded hands, compared to its average volume of 214,127. Lovesac has a 52-week low of $12.12 and a 52-week high of $39.49. The stock's fifty day moving average is $18.77 and its two-hundred day moving average is $19.67. The stock has a market cap of $265.10 million, a P/E ratio of 26.03, a P/E/G ratio of 0.59 and a beta of 2.20.

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

Insider Buying and Selling

In related news, Director Walter Field Mclallen bought 1,950 shares of the firm's stock in a transaction on Friday, June 20th. The shares were bought at an average cost of $18.08 per share, for a total transaction of $35,256.00. Following the transaction, the director owned 40,000 shares of the company's stock, valued at approximately $723,200. This trade represents a 5.12% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 12.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LOVE. Heck Capital Advisors LLC acquired a new position in shares of Lovesac during the fourth quarter worth approximately $26,000. Public Employees Retirement System of Ohio bought a new position in shares of Lovesac during the 2nd quarter valued at about $36,000. Cubist Systematic Strategies LLC bought a new stake in Lovesac during the fourth quarter worth approximately $49,000. Quarry LP lifted its position in shares of Lovesac by 396.3% during the 1st quarter. Quarry LP now owns 3,052 shares of the company's stock valued at $55,000 after acquiring an additional 2,437 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of Lovesac by 18.3% in the 4th quarter. MetLife Investment Management LLC now owns 9,233 shares of the company's stock worth $218,000 after acquiring an additional 1,425 shares during the last quarter. 91.32% of the stock is owned by hedge funds and other institutional investors.

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.