Lovesac (NASDAQ:LOVE) Upgraded by Wall Street Zen to Hold Rating
by Tristan Rich · The Markets DailyWall Street Zen upgraded shares of Lovesac (NASDAQ:LOVE – Free Report) from a sell rating to a hold rating in a research report released on Saturday.
Other research analysts also recently issued reports about the company. Canaccord Genuity Group decreased their price objective on Lovesac from $30.00 to $24.00 and set a “buy” rating for the company in a report on Friday, December 12th. Maxim Group set a $26.00 price target on Lovesac in a research report on Friday, December 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lovesac in a research note on Friday, March 27th. Finally, DA Davidson lowered their price objective on shares of Lovesac from $24.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Lovesac currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.20.
Read Our Latest Report on Lovesac
Lovesac Price Performance
Shares of NASDAQ:LOVE opened at $14.37 on Friday. The firm has a market cap of $210.09 million, a price-to-earnings ratio of 49.55, a PEG ratio of 0.63 and a beta of 2.21. Lovesac has a 12 month low of $10.33 and a 12 month high of $21.90. The company’s fifty day simple moving average is $12.73 and its 200 day simple moving average is $14.02.
Lovesac (NASDAQ:LOVE – Get Free Report) last announced its earnings results on Thursday, March 26th. The company reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.19. Lovesac had a net margin of 0.58% and a return on equity of 2.07%. The firm had revenue of $248.05 million during the quarter, compared to analyst estimates of $242.77 million. During the same period in the prior year, the business earned $2.13 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts expect that Lovesac will post 0.39 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in LOVE. Corient Private Wealth LLC raised its stake in shares of Lovesac by 139.5% during the 4th quarter. Corient Private Wealth LLC now owns 279,087 shares of the company’s stock worth $4,117,000 after purchasing an additional 162,580 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Lovesac by 32.3% in the 4th quarter. Invesco Ltd. now owns 73,880 shares of the company’s stock valued at $1,090,000 after buying an additional 18,027 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Lovesac by 10.8% in the fourth quarter. Empowered Funds LLC now owns 76,547 shares of the company’s stock valued at $1,129,000 after buying an additional 7,483 shares in the last quarter. XTX Topco Ltd acquired a new position in Lovesac during the fourth quarter worth $149,000. Finally, Millennium Management LLC increased its holdings in Lovesac by 378.9% during the fourth quarter. Millennium Management LLC now owns 327,477 shares of the company’s stock worth $4,830,000 after buying an additional 259,097 shares during the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.
About Lovesac
Lovesac, trading on NASDAQ under the symbol LOVE, is an American furniture company known for its modular seating systems and distinctive foam-filled “Sacs.” Founded in 1995 by Shawn Nelson, the company has built a reputation for innovative design that emphasizes comfort, durability and adaptability. Its core offerings include Sactionals—customizable sectional sofas assembled from individual “Sactional” cubes—and the original Lovesac Sacs, large fabric-covered bean bag chairs available in a variety of sizes and materials.
In addition to seating solutions, Lovesac has expanded into home entertainment products with the introduction of the Stage, a modular soundbar system designed to integrate seamlessly with Sactionals.