The Lovesac (NASDAQ:LOVE) Downgraded by TheStreet

The Lovesac (NASDAQ:LOVE) was downgraded by equities research analysts at TheStreet from a “c” rating to a “d+” rating in a research note issued on Wednesday, TheStreetRatingsTable reports.

Several other research analysts have also weighed in on LOVE. Craig Hallum increased their price objective on The Lovesac from $85.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus raised their price target on The Lovesac from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday. Canaccord Genuity raised their price target on The Lovesac from $77.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday. Roth Capital lifted their target price on The Lovesac from $85.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday. Finally, BTIG Research lifted their target price on The Lovesac from $78.00 to $98.00 and gave the company a “buy” rating in a report on Thursday. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The Lovesac presently has an average rating of “Buy” and an average price target of $96.38.

Shares of LOVE opened at $87.40 on Wednesday. The Lovesac has a 52 week low of $18.88 and a 52 week high of $95.51. The stock has a market capitalization of $1.31 billion, a P/E ratio of 100.46, a price-to-earnings-growth ratio of 5.99 and a beta of 2.49. The business has a 50-day moving average of $73.96.

The Lovesac (NASDAQ:LOVE) last issued its earnings results on Tuesday, June 8th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.71. The firm had revenue of $82.90 million for the quarter, compared to the consensus estimate of $75.06 million. The Lovesac had a return on equity of 16.47% and a net margin of 4.59%. The company’s revenue was up 52.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.58) earnings per share. On average, research analysts predict that The Lovesac will post 0.4 earnings per share for the current fiscal year.

In related news, CEO Shawn David Nelson sold 6,000 shares of the business’s stock in a transaction dated Monday, April 19th. The stock was sold at an average price of $69.00, for a total value of $414,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 31.31% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Point72 Hong Kong Ltd acquired a new position in The Lovesac in the 1st quarter valued at about $25,000. Acadian Asset Management LLC purchased a new stake in The Lovesac in the 1st quarter valued at approximately $25,000. Royal Bank of Canada boosted its holdings in The Lovesac by 97.9% in the 1st quarter. Royal Bank of Canada now owns 651 shares of the company’s stock valued at $37,000 after purchasing an additional 322 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of The Lovesac by 37.4% during the 1st quarter. Captrust Financial Advisors now owns 892 shares of the company’s stock worth $50,000 after acquiring an additional 243 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of The Lovesac during the 1st quarter worth approximately $102,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

About The Lovesac

The Lovesac Company designs, manufactures, and sells furniture. It 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. As of January 31, 2021, the Company operated 108 showrooms.

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Analyst Recommendations for The Lovesac (NASDAQ:LOVE)

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