The Lovesac Company (NASDAQ:LOVE) Receives Average Recommendation of "Buy" from Brokerages

The Lovesac Company (NASDAQ:LOVE - Get Free Report) has earned an average recommendation of "Buy" from the five research firms that are currently covering the firm, Marketbeat reports. Five analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have covered the stock in the last year is $30.40.

Several research analysts have commented on the company. DA Davidson reduced their price objective on Lovesac from $35.00 to $24.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Oppenheimer restated an "outperform" rating and set a $35.00 price target on shares of Lovesac in a research note on Friday, April 11th. Roth Mkm upped 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. Canaccord Genuity Group dropped 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, Wall Street Zen lowered shares of Lovesac from a "hold" rating to a "sell" rating in a report on Friday, June 27th.

Lovesac Stock Performance

LOVE stock traded down $0.11 during midday trading on Thursday, reaching $18.86. The company's stock had a trading volume of 120,810 shares, compared to its average volume of 386,232. Lovesac has a 1 year low of $12.12 and a 1 year high of $39.49. The firm has a market capitalization of $274.39 million, a price-to-earnings ratio of 26.94, a PEG ratio of 0.60 and a beta of 2.24. The stock has a fifty day simple moving average of $19.24 and a two-hundred day simple moving average of $20.55.

Lovesac (NASDAQ:LOVE - Get Free Report) last announced its quarterly earnings data on Thursday, June 12th. The company reported ($0.73) earnings per share for the quarter, beating analysts' consensus estimates of ($0.81) by $0.08. The company 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%. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.83) EPS. As a group, analysts forecast that Lovesac will post 0.39 EPS for the current fiscal year.

Insider Activity at Lovesac

In other news, Director Walter Field Mclallen acquired 1,950 shares of the business's stock in a transaction dated Friday, June 20th. The shares were purchased at an average price of $18.08 per share, with a total value of $35,256.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 12.33% of the company's stock.

Institutional Investors Weigh In On Lovesac

Several institutional investors have recently bought and sold shares of LOVE. Voya Investment Management LLC purchased a new stake in shares of Lovesac during the 4th quarter valued at $7,354,000. SG Americas Securities LLC raised its stake in Lovesac by 1,165.7% in the first quarter. SG Americas Securities LLC now owns 304,586 shares of the company's stock valued at $5,537,000 after buying an additional 280,522 shares during the last quarter. Millennium Management LLC boosted its holdings in Lovesac by 344.8% in the first quarter. Millennium Management LLC now owns 302,291 shares of the company's stock worth $5,496,000 after acquiring an additional 234,324 shares in the last quarter. AWM Investment Company Inc. grew its stake in shares of Lovesac by 33.2% during the fourth quarter. AWM Investment Company Inc. now owns 681,741 shares of the company's stock worth $16,130,000 after acquiring an additional 170,045 shares during the last quarter. Finally, Senvest Management LLC increased its holdings in shares of Lovesac by 17.4% during the fourth quarter. Senvest Management LLC now owns 1,106,767 shares of the company's stock valued at $26,186,000 after acquiring an additional 163,745 shares in the last quarter. 91.32% of the stock is currently owned by institutional investors and hedge funds.

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.