DA Davidson Has Lowered Expectations for Lovesac (NASDAQ:LOVE) Stock Price

Lovesac (NASDAQ:LOVE) had its price target decreased by DA Davidson from $44.00 to $35.00 in a report published on Friday,Benzinga reports. DA Davidson currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on LOVE. Canaccord Genuity Group raised their target price on Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Roth Mkm raised their price objective on Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Craig Hallum increased their target price on shares of Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Lovesac presently has a consensus rating of “Buy” and an average target price of $38.33.

Lovesac Price Performance

Shares of NASDAQ:LOVE opened at $26.34 on Friday. Lovesac has a 1 year low of $18.21 and a 1 year high of $39.49. The company has a market cap of $409.82 million, a P/E ratio of 51.65, a PEG ratio of 0.99 and a beta of 2.97. The stock’s fifty day moving average price is $31.56 and its 200-day moving average price is $27.30.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.02. The firm had revenue of $149.90 million for the quarter, compared to analysts’ expectations of $155.26 million. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.15) EPS. On average, sell-side analysts anticipate that Lovesac will post 1.09 earnings per share for the current year.

Insider Buying and Selling at Lovesac

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

Hedge Funds Weigh In On Lovesac

Several institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its position in shares of Lovesac by 8.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock valued at $218,000 after purchasing an additional 726 shares during the last quarter. BCGM Wealth Management LLC raised its position in Lovesac by 0.8% in the 3rd quarter. BCGM Wealth Management LLC now owns 134,364 shares of the company’s stock worth $3,850,000 after purchasing an additional 1,023 shares during the period. Meeder Asset Management Inc. bought a new stake in Lovesac in the second quarter worth about $43,000. Empowered Funds LLC lifted its stake in Lovesac by 5.1% in the third quarter. Empowered Funds LLC now owns 49,284 shares of the company’s stock worth $1,412,000 after purchasing an additional 2,412 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Lovesac by 12.4% during the second quarter. Rhumbline Advisers now owns 22,199 shares of the company’s stock valued at $501,000 after buying an additional 2,449 shares during the period. Institutional investors 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.