The Lovesac (NASDAQ:LOVE) had its price target hoisted by BTIG Research from $49.00 to $62.00 in a research note released on Friday, The Fly reports. The brokerage currently has a buy rating on the stock.
A number of other analysts also recently commented on LOVE. Oppenheimer increased their price objective on shares of The Lovesac from $40.00 to $55.00 and gave the company an outperform rating in a report on Wednesday, January 6th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of The Lovesac from a sell rating to a hold rating in a report on Tuesday, December 15th. Craig Hallum increased their price objective on shares of The Lovesac from $35.00 to $40.00 and gave the company a buy rating in a report on Thursday, September 10th. Canaccord Genuity increased their price objective on shares of The Lovesac from $35.00 to $50.00 and gave the company a buy rating in a report on Wednesday, December 9th. Finally, DA Davidson raised their price target on shares of The Lovesac from $37.00 to $43.00 and gave the stock a buy rating in a report on Thursday, September 10th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $40.22.
NASDAQ:LOVE opened at $47.14 on Friday. The Lovesac has a one year low of $3.99 and a one year high of $52.00. The firm has a market cap of $692.16 million, a price-to-earnings ratio of -362.62 and a beta of 2.52. The firm’s fifty day moving average is $39.02 and its two-hundred day moving average is $31.26.
The Lovesac (NASDAQ:LOVE) last posted its earnings results on Tuesday, December 8th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.88) by $1.04. The business had revenue of $74.70 million for the quarter, compared to analyst estimates of $66.14 million. The Lovesac had a negative net margin of 0.55% and a negative return on equity of 1.84%. The company’s revenue for the quarter was up 43.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.46) EPS. On average, research analysts predict that The Lovesac will post 0.04 EPS for the current year.
In other The Lovesac news, Director Andrew R. Heyer sold 5,200 shares of the firm’s stock in a transaction that occurred on Wednesday, January 6th. The shares were sold at an average price of $45.25, for a total value of $235,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Albert Jack Krause sold 6,816 shares of the firm’s stock in a transaction that occurred on Monday, December 28th. The shares were sold at an average price of $41.65, for a total transaction of $283,886.40. Following the completion of the transaction, the chief operating officer now directly owns 118,385 shares of the company’s stock, valued at approximately $4,930,735.25. The disclosure for this sale can be found here. Insiders sold a total of 940,625 shares of company stock valued at $36,951,132 in the last quarter. 31.31% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA grew its holdings in The Lovesac by 512.9% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,274 shares of the company’s stock worth $63,000 after acquiring an additional 1,903 shares in the last quarter. American International Group Inc. raised its position in shares of The Lovesac by 7.7% in the 3rd quarter. American International Group Inc. now owns 5,863 shares of the company’s stock valued at $163,000 after acquiring an additional 419 shares during the period. PDT Partners LLC raised its position in shares of The Lovesac by 7.3% in the 2nd quarter. PDT Partners LLC now owns 10,823 shares of the company’s stock valued at $284,000 after acquiring an additional 740 shares during the period. JPMorgan Chase & Co. raised its position in shares of The Lovesac by 56.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,784 shares of the company’s stock valued at $313,000 after acquiring an additional 4,241 shares during the period. Finally, Zebra Capital Management LLC acquired a new stake in shares of The Lovesac in the 3rd quarter valued at approximately $337,000. 75.19% of the stock is owned by institutional investors.
The Lovesac Company Profile
The Lovesac Company designs, manufactures, and sells foam filled furniture, sectional couches, and related accessories. The company offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, foot sac blankets, decorative pillows, fitted seat tables, and ottomans.
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