Lovesac (NASDAQ:LOVE) Price Target Raised to $35.00

Lovesac (NASDAQ:LOVE) had its price target upped by Roth Mkm from $31.00 to $35.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently issued reports on LOVE. Canaccord Genuity Group restated a “buy” rating and set a $36.00 target price on shares of Lovesac in a research report on Friday, September 13th. Craig Hallum increased their price objective on shares of Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a report on Friday, September 13th. Finally, DA Davidson reaffirmed a “buy” rating and set a $32.00 target price on shares of Lovesac in a report on Thursday, October 3rd. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $35.17.

Lovesac Trading Up 7.1 %

LOVE opened at $35.40 on Tuesday. Lovesac has a 1-year low of $18.21 and a 1-year high of $35.58. The firm has a 50-day moving average price of $28.45 and a two-hundred day moving average price of $26.14. The stock has a market capitalization of $550.82 million, a PE ratio of 69.41, a PEG ratio of 0.87 and a beta of 2.91.

Lovesac (NASDAQ:LOVE) last posted its quarterly earnings data on Thursday, September 12th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.08. The firm had revenue of $156.59 million for the quarter, compared to the consensus estimate of $154.01 million. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. On average, research analysts predict that Lovesac will post 1.09 EPS for the current year.

Insider Buying and Selling at Lovesac

In other Lovesac news, Director Albert Jack Krause sold 10,000 shares of Lovesac stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total transaction of $262,200.00. Following the transaction, the director now directly owns 177,849 shares in the company, valued at approximately $4,663,200.78. The trade was a 5.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.33% of the company’s stock.

Institutional Investors Weigh In On Lovesac

Hedge funds have recently modified their holdings of the business. Senvest Management LLC increased its stake in Lovesac by 47.3% during the 3rd quarter. Senvest Management LLC now owns 943,022 shares of the company’s stock worth $27,018,000 after purchasing an additional 302,643 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Lovesac by 1.4% during the first quarter. Vanguard Group Inc. now owns 841,537 shares of the company’s stock worth $19,019,000 after acquiring an additional 11,745 shares in the last quarter. Anson Funds Management LP increased its position in shares of Lovesac by 13.9% during the third quarter. Anson Funds Management LP now owns 814,363 shares of the company’s stock worth $23,332,000 after acquiring an additional 99,651 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Lovesac by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 795,011 shares of the company’s stock worth $17,951,000 after acquiring an additional 26,872 shares during the period. Finally, Hood River Capital Management LLC lifted its position in Lovesac by 8.8% in the 2nd quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock valued at $17,477,000 after acquiring an additional 62,615 shares in the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

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.