The Lovesac Company (NASDAQ:LOVE) Receives $31.67 Average PT from Brokerages

Shares of The Lovesac Company (NASDAQ:LOVE - Get Free Report) have earned a consensus recommendation of "Buy" from the six ratings firms that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have covered the stock in the last year is $31.67.

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

Institutional Investors Weigh In On Lovesac

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC raised its position in Lovesac by 8.1% in the first quarter. Empowered Funds LLC now owns 55,925 shares of the company's stock worth $1,017,000 after acquiring an additional 4,200 shares in the last quarter. Millennium Management LLC raised its position 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. Invenomic Capital Management LP bought a new stake in Lovesac in the first quarter worth about $2,143,000. Jacobs Levy Equity Management Inc. bought a new stake in Lovesac in the first quarter worth about $675,000. Finally, AQR Capital Management LLC raised its position in Lovesac by 391.8% in the first quarter. AQR Capital Management LLC now owns 111,727 shares of the company's stock worth $2,031,000 after acquiring an additional 89,007 shares in the last quarter. 91.32% of the stock is currently owned by institutional investors.

Lovesac Stock Performance

Shares of LOVE stock traded up $0.50 during mid-day trading on Friday, reaching $17.15. 54,980 shares of the company were exchanged, compared to its average volume of 383,326. Lovesac has a fifty-two week low of $12.12 and a fifty-two week high of $39.49. The company has a market capitalization of $254.59 million, a P/E ratio of 50.89, a P/E/G ratio of 0.65 and a beta of 2.30. The business's 50 day simple moving average is $19.40 and its 200 day simple moving average is $22.12.

Lovesac (NASDAQ:LOVE - Get Free Report) last released its quarterly 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. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The business had revenue of $138.37 million during the quarter, compared to the consensus estimate of $137.20 million. During the same quarter last year, the company earned ($0.83) earnings per share. The business's quarterly revenue was up 4.4% compared to the same quarter last year. On average, analysts forecast that Lovesac will post 0.39 EPS 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.