Lovesac’s (LOVE) Outperform Rating Reaffirmed at Oppenheimer

Lovesac (NASDAQ:LOVE)‘s stock had its “outperform” rating reissued by analysts at Oppenheimer in a research note issued to investors on Friday,Benzinga reports. They presently have a $35.00 price objective on the stock. Oppenheimer’s target price would suggest a potential upside of 94.10% from the stock’s current price.

Other equities analysts have also issued research reports about the company. DA Davidson cut their target price on Lovesac from $35.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday. Roth Mkm increased their price target on shares of Lovesac from $22.00 to $28.00 and gave the company a “buy” rating in a research report on Friday. Finally, Canaccord Genuity Group reduced their price objective on shares of Lovesac from $45.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $31.67.

Lovesac Price Performance

Shares of NASDAQ LOVE traded down $0.46 during mid-day trading on Friday, hitting $18.03. The company’s stock had a trading volume of 411,627 shares, compared to its average volume of 371,794. Lovesac has a one year low of $12.12 and a one year high of $39.49. The company’s fifty day simple moving average is $19.06 and its 200-day simple moving average is $25.41. The stock has a market cap of $278.29 million, a price-to-earnings ratio of 52.60, a price-to-earnings-growth ratio of 0.65 and a beta of 3.08.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings data on Thursday, April 10th. The company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.33. The firm had revenue of $241.50 million for the quarter, compared to analysts’ expectations of $230.33 million. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $1.87 earnings per share. On average, sell-side analysts predict that Lovesac will post 0.39 EPS for the current year.

Insider Activity at Lovesac

In other Lovesac news, Director Albert Jack Krause sold 30,000 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $26.33, for a total transaction of $789,900.00. Following the completion of the transaction, the director now owns 147,849 shares in the company, valued at approximately $3,892,864.17. This represents a 16.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LOVE. GAMMA Investing LLC lifted its stake in Lovesac by 12,234.3% in the 1st quarter. GAMMA Investing LLC now owns 12,581 shares of the company’s stock valued at $229,000 after acquiring an additional 12,479 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Lovesac in the fourth quarter valued at approximately $26,000. AWM Investment Company Inc. lifted its position in shares of Lovesac by 33.2% in the fourth quarter. AWM Investment Company Inc. now owns 681,741 shares of the company’s stock worth $16,130,000 after purchasing an additional 170,045 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in Lovesac by 316.1% during the fourth quarter. Squarepoint Ops LLC now owns 116,829 shares of the company’s stock worth $2,764,000 after purchasing an additional 88,753 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new position in Lovesac in the fourth quarter valued at $265,000. 91.32% of the stock is owned by institutional investors and hedge funds.

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.