Research Analysts’ Recent Ratings Updates for Lovesac (LOVE)

Several brokerages have updated their recommendations and price targets on shares of Lovesac (NASDAQ: LOVE) in the last few weeks:

  • 6/9/2022 – Lovesac had its price target lowered by analysts at Craig Hallum to $100.00.
  • 6/9/2022 – Lovesac had its price target lowered by analysts at BTIG Research to $100.00.
  • 6/9/2022 – Lovesac had its price target lowered by analysts at Stifel Nicolaus from $110.00 to $90.00.
  • 6/9/2022 – Lovesac had its price target lowered by analysts at Canaccord Genuity Group Inc. from $104.00 to $70.00.
  • 6/1/2022 – Lovesac had its price target lowered by analysts at DA Davidson from $135.00 to $124.00.

Lovesac stock traded down $0.05 during mid-day trading on Monday, reaching $29.68. 11,311 shares of the company’s stock were exchanged, compared to its average volume of 466,908. The business’s fifty day simple moving average is $38.70 and its 200 day simple moving average is $47.67. The firm has a market capitalization of $448.91 million, a PE ratio of 10.45, a P/E/G ratio of 0.28 and a beta of 2.45. The Lovesac Company has a one year low of $26.05 and a one year high of $87.12.

Lovesac (NASDAQ:LOVEGet Rating) last issued its quarterly earnings results on Wednesday, June 8th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.32. The business had revenue of $129.40 million for the quarter, compared to analyst estimates of $114.81 million. Lovesac had a return on equity of 21.22% and a net margin of 8.40%. Lovesac’s quarterly revenue was up 56.1% compared to the same quarter last year. During the same period last year, the company posted $0.13 earnings per share. As a group, equities research analysts anticipate that The Lovesac Company will post 3.03 earnings per share for the current year.

In other news, Director Shirley Romig sold 2,300 shares of Lovesac stock in a transaction on Tuesday, April 12th. The stock was sold at an average price of $49.38, for a total value of $113,574.00. Following the completion of the transaction, the director now directly owns 5,816 shares in the company, valued at $287,194.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Shawn David Nelson sold 7,000 shares of Lovesac stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $49.43, for a total value of $346,010.00. Following the completion of the transaction, the chief executive officer now owns 151,623 shares of the company’s stock, valued at $7,494,724.89. The disclosure for this sale can be found here. Insiders own 8.66% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in Lovesac by 35.4% during the first quarter. Bank of America Corp DE now owns 17,409 shares of the company’s stock worth $941,000 after buying an additional 4,551 shares in the last quarter. Connors Investor Services Inc. grew its position in Lovesac by 2.9% during the first quarter. Connors Investor Services Inc. now owns 82,455 shares of the company’s stock worth $4,458,000 after buying an additional 2,339 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Lovesac in the 1st quarter worth about $2,383,000. Ensign Peak Advisors Inc boosted its holdings in shares of Lovesac by 20.8% in the 1st quarter. Ensign Peak Advisors Inc now owns 22,530 shares of the company’s stock worth $1,218,000 after purchasing an additional 3,885 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in shares of Lovesac by 110.6% in the 1st quarter. Captrust Financial Advisors now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 303 shares in the last quarter. Institutional investors and hedge funds own 97.12% of the company’s stock.

The Lovesac Company designs, manufactures, and sells furniture. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans. As of January 30, 2022, the company operated 146 showrooms.

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