The Lovesac Company (NASDAQ:LOVE) Given Consensus Recommendation of "Buy" by Analysts

Shares of The Lovesac Company (NASDAQ:LOVE - Get Free Report) have been given an average recommendation of "Buy" by the five brokerages that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $30.40.

LOVE has been the subject of a number of recent research reports. DA Davidson decreased their price target 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. Canaccord Genuity Group decreased their price target on shares of Lovesac from $45.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Wall Street Zen lowered shares of Lovesac from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Roth Mkm upped their target price on shares of Lovesac from $22.00 to $28.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $35.00 target price on shares of Lovesac in a research note on Friday, April 11th.

Lovesac Stock Up 0.2%

NASDAQ:LOVE opened at $18.97 on Thursday. The company has a fifty day moving average of $19.24 and a 200-day moving average of $20.55. The firm has a market capitalization of $275.99 million, a P/E ratio of 27.10, a P/E/G ratio of 0.60 and a beta of 2.24. Lovesac has a twelve month low of $12.12 and a twelve month high of $39.49.

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

Insider Activity

In other news, Director Walter Field Mclallen bought 1,950 shares of Lovesac stock in a transaction dated Friday, June 20th. The stock was purchased at an average price of $18.08 per share, for a total transaction of $35,256.00. Following the purchase, the director directly owned 40,000 shares in the company, valued at $723,200. The trade was a 5.12% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lovesac

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Heck Capital Advisors LLC purchased a new position in shares of Lovesac in the 4th quarter worth about $26,000. Cubist Systematic Strategies LLC purchased a new position in shares of Lovesac in the 4th quarter worth about $49,000. AlphaQuest LLC purchased a new position in shares of Lovesac in the 4th quarter worth about $70,000. Quarry LP boosted its holdings in shares of Lovesac by 396.3% in the 1st quarter. Quarry LP now owns 3,052 shares of the company's stock worth $55,000 after buying an additional 2,437 shares during the last quarter. Finally, MetLife Investment Management LLC boosted 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 buying 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.

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