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

The Lovesac Company (NASDAQ:LOVE - Get Free Report) has received a consensus rating of "Buy" from the five research firms that are presently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $30.40.

A number of research firms have weighed in on LOVE. Oppenheimer reaffirmed an "outperform" rating and set a $35.00 target price on shares of Lovesac in a research note on Friday, April 11th. Wall Street Zen raised shares of Lovesac from a "sell" rating to a "hold" rating in a research note on Saturday. Roth Mkm boosted their price objective 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. DA Davidson reduced their price objective on shares of 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 reduced their price objective on shares of Lovesac from $45.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, April 11th.

Insider Transactions at Lovesac

In other news, Director Walter Field Mclallen bought 1,950 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were acquired at an average price of $18.08 per share, for a total transaction of $35,256.00. Following the completion of the acquisition, the director directly owned 40,000 shares in the company, valued at approximately $723,200. This represents a 5.12% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 12.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lovesac

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC lifted its holdings in Lovesac by 8.1% in the first quarter. Empowered Funds LLC now owns 55,925 shares of the company's stock valued at $1,017,000 after buying an additional 4,200 shares during the period. Millennium Management LLC raised its holdings in shares of Lovesac by 344.8% during the first quarter. Millennium Management LLC now owns 302,291 shares of the company's stock valued at $5,496,000 after purchasing an additional 234,324 shares during the period. Invenomic Capital Management LP acquired a new position in shares of Lovesac during the first quarter valued at about $2,143,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Lovesac during the first quarter valued at about $675,000. Finally, AQR Capital Management LLC raised its holdings in shares of Lovesac by 391.8% during the first quarter. AQR Capital Management LLC now owns 111,727 shares of the company's stock valued at $2,031,000 after purchasing an additional 89,007 shares during the period. Institutional investors and hedge funds own 91.32% of the company's stock.

Lovesac Price Performance

LOVE traded down $0.75 during trading on Thursday, hitting $18.11. 142,812 shares of the stock traded hands, compared to its average volume of 386,053. The business has a 50 day moving average price of $19.19 and a 200 day moving average price of $20.41. The company has a market cap of $263.48 million, a price-to-earnings ratio of 25.87, a PEG ratio of 0.58 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 posted its earnings results on Thursday, June 12th. The company reported ($0.73) earnings per share for the quarter, topping analysts' consensus estimates of ($0.81) by $0.08. The firm had revenue of $138.37 million for the quarter, compared to analysts' expectations of $137.20 million. Lovesac had a net margin of 1.99% and a return on equity of 6.70%. The company's revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.83) earnings per share. On average, equities research analysts predict that Lovesac will post 0.39 earnings per share for the current year.

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.