Roth Mkm reiterated its buy recommendation for shares of Lovesac (NASDAQ:LOVE – Free Report) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $30.00 price target on the stock.
LOVE has been the subject of a number of other reports. DA Davidson increased their price target on Lovesac from $24.00 to $32.00 and gave the stock a buy rating in a research note on Friday, June 14th. Oppenheimer reduced their price target on shares of Lovesac from $60.00 to $35.00 and gave the stock an outperform rating in a research note on Wednesday, May 1st. Canaccord Genuity Group reiterated a buy rating and issued a $36.00 price target on shares of Lovesac in a report on Friday, June 14th. Finally, Maxim Group increased their price target on shares of Lovesac from $36.00 to $38.00 and gave the company a buy rating in a research report on Monday, June 17th. Five analysts have rated the stock with a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $34.20.
Get our latest analysis on Lovesac
Lovesac shares rise 1.3%
NASDAQ LOVE shares opened at $22.27 on Wednesday. The company has a 50-day moving average of $24.88 and a 200-day moving average of $23.89. The stock has a market cap of $346.30 million, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 0.59 and a beta of 2.94. Lovesac has a 52-week low of $14.18 and a 52-week high of $29.81.
Lovesac (NASDAQ:LOVE – Free Report) last released its quarterly earnings results on Thursday, June 13. The company reported earnings per share (EPS) of -$0.83 for the quarter, beating analysts’ consensus estimates of -$0.99 by $0.16. The company had revenue of $132.64 million during the quarter, compared to the consensus estimate of $128.20 million. Lovesac had a net margin of 2.17% and a return on equity of 7.55%. As a group, equities analysts expect Lovesac to post earnings per share of $1.09 for the current year.
Insiders place their bets
In related news, Director Andrew R. Heyer purchased 3,856 shares of the company’s stock in a transaction that occurred on Tuesday, April 16. The shares were purchased at an average price of $18.76 per share, for a total transaction of $72,338.56. Following the acquisition, the director now owns 3,856 shares of the company’s stock, valued at approximately $72,338.56. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In other Lovesac news, CEO Shawn David Nelson sold 18,988 shares of Lovesac stock in a transaction that occurred on Thursday, June 20. The shares were sold at an average price of $23.33, for a total value of $442,990.04. Following the completion of the transaction, the CEO now directly owns 165,855 shares of the company’s stock, valued at approximately $3,869,397.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Andrew R. Heyer bought 3,856 shares of the company’s stock in a transaction that occurred on Tuesday, April 16. The shares were acquired at an average price of $18.76 per share, for a total transaction of $72,338.56. Following the completion of the purchase, the director now directly owns 3,856 shares of the company’s stock, valued at $72,338.56. The disclosure regarding this purchase can be found here. 12.33% of the shares are currently owned by insiders.
Institutional inflows and outflows
A number of institutional investors have recently made changes to their positions in the company. EntryPoint Capital LLC acquired a new position in Lovesac during the 1st quarter valued at around $39,000. Byrne Asset Management LLC increased its holdings in Lovesac by 515.4% during the 1st quarter. Byrne Asset Management LLC now owns 3,200 shares of the company’s stock valued at $72,000 after acquiring an additional 2,680 shares during the same period. SG Americas Securities LLC acquired a new position in Lovesac during the 4th quarter valued at $116,000. Price T Rowe Associates Inc. MD increased its holdings in Lovesac by 8.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock valued at $218,000 after acquiring an additional 726 shares during the same period. Finally, Grandeur Peak Global Advisors LLC acquired a new position in shares of Lovesac in the 1st quarter valued at approximately $247,000. Institutional investors and hedge funds own 91.32% of the company’s shares.
About Lovesac
(Get free report)
The Lovesac Company designs, manufactures and sells furniture. It offers custom features such as seats and sides, sacs, including foam bean bags, and other products such as cup holders, footmuff blankets, decorative pillows, seating tables and ottomans. The company sells its products primarily through its website, www.lovesac.com, as well as showrooms in premier shopping centers, lifestyle centers, mobile concierges, kiosks and street locations in 41 states across the United States, as well as through pop-up shops and shop-in-shops in stores and swap shops.
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