Lovesac (NASDAQ:LOVE) Reaches New 1-Year High – Time to Buy?

The Lovesac Company (NASDAQ:LOVE)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $37.14 and last traded at $37.07, with a volume of 52581 shares changing hands. The stock had previously closed at $34.71.

Analyst Upgrades and Downgrades

LOVE has been the topic of several research analyst reports. Craig Hallum raised their price target on shares of Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Roth Mkm lifted their target price on Lovesac from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. DA Davidson reaffirmed a “buy” rating and issued a $32.00 price target on shares of Lovesac in a report on Thursday, October 3rd. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $36.00 price objective on shares of Lovesac in a report on Friday, September 13th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Lovesac presently has an average rating of “Buy” and a consensus target price of $35.17.

Lovesac Stock Up 10.8 %

The stock has a fifty day simple moving average of $28.82 and a 200-day simple moving average of $26.31. The company has a market capitalization of $598.59 million, a P/E ratio of 73.59, a PEG ratio of 0.91 and a beta of 2.91.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings results on Thursday, September 12th. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.08. The firm had revenue of $156.59 million for the quarter, compared to analyst estimates of $154.01 million. Lovesac had a net margin of 1.41% and a return on equity of 4.83%. Analysts predict that The Lovesac Company will post 1.09 earnings per share for the current fiscal year.

Insider Transactions at Lovesac

In other Lovesac news, Director Albert Jack Krause sold 10,000 shares of the company’s stock in a transaction on 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 owns 177,849 shares of the company’s stock, valued at approximately $4,663,200.78. This represents a 5.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lovesac

Several large investors have recently made changes to their positions in LOVE. Russell Investments Group Ltd. raised its holdings in Lovesac by 12.8% during the 1st quarter. Russell Investments Group Ltd. now owns 13,966 shares of the company’s stock worth $316,000 after purchasing an additional 1,584 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Lovesac by 1.4% in the first quarter. Vanguard Group Inc. now owns 841,537 shares of the company’s stock valued at $19,019,000 after buying an additional 11,745 shares during the period. EntryPoint Capital LLC bought a new position in Lovesac in the first quarter valued at approximately $39,000. Price T Rowe Associates Inc. MD grew 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 worth $218,000 after acquiring an additional 726 shares during the period. Finally, Grandeur Peak Global Advisors LLC bought a new stake in shares of Lovesac during the 1st quarter valued at $247,000. 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.