Lovesac (NASDAQ:LOVE) Price Target Raised to $42.00 at Roth Mkm

Lovesac (NASDAQ:LOVE) had its price target upped by Roth Mkm from $35.00 to $42.00 in a research note released on Tuesday,Benzinga reports. Roth Mkm currently has a buy rating on the stock.

LOVE has been the subject of several other reports. Craig Hallum boosted their price objective on shares of Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Canaccord Genuity Group upped their price target on shares of Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, DA Davidson reissued a “buy” rating and issued a $32.00 price objective on shares of Lovesac in a research report on Thursday, October 3rd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Lovesac presently has a consensus rating of “Buy” and an average target price of $37.83.

Lovesac Stock Up 0.1 %

LOVE stock opened at $37.20 on Tuesday. The company has a market cap of $578.79 million, a price-to-earnings ratio of 72.94, a PEG ratio of 1.00 and a beta of 2.97. The business has a fifty day simple moving average of $31.31 and a 200-day simple moving average of $27.24. Lovesac has a 52 week low of $18.21 and a 52 week high of $39.49.

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

Insider Activity at Lovesac

In other Lovesac news, Director Albert Jack Krause sold 10,000 shares of Lovesac stock in a transaction that occurred 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 sale, the director now directly owns 177,849 shares in the company, valued at $4,663,200.78. The trade was a 5.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.33% of the company’s stock.

Hedge Funds Weigh In On Lovesac

Several institutional investors and hedge funds have recently made changes to their positions in LOVE. Franklin Resources Inc. acquired a new stake in Lovesac in the third quarter valued at $231,000. Barclays PLC raised its stake in shares of Lovesac by 312.7% in the 3rd quarter. Barclays PLC now owns 20,312 shares of the company’s stock valued at $583,000 after purchasing an additional 15,390 shares in the last quarter. Soltis Investment Advisors LLC grew its stake in Lovesac by 8.8% in the third quarter. Soltis Investment Advisors LLC now owns 86,170 shares of the company’s stock worth $2,469,000 after purchasing an additional 6,988 shares in the last quarter. Geode Capital Management LLC increased its holdings in Lovesac by 1.2% in the third quarter. Geode Capital Management LLC now owns 336,210 shares of the company’s stock valued at $9,634,000 after buying an additional 3,979 shares during the last quarter. Finally, MML Investors Services LLC raised its stake in Lovesac by 46.9% during the third quarter. MML Investors Services LLC now owns 138,893 shares of the company’s stock valued at $3,979,000 after buying an additional 44,358 shares in the last quarter. 91.32% of the stock is currently owned by hedge funds and other institutional investors.

Lovesac Company Profile

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.