Roth Mkm Forecasts Strong Price Appreciation for Lovesac (NASDAQ:LOVE) Stock

Lovesac (NASDAQ:LOVE) had its price objective upped by analysts at Roth Mkm from $31.00 to $35.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Roth Mkm’s price target would indicate a potential upside of 10.27% from the stock’s current price.

LOVE has been the subject of several other reports. DA Davidson reiterated a “buy” rating and issued a $32.00 price target on shares of Lovesac in a research report on Thursday, October 3rd. Craig Hallum lifted their target price on Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a report on Friday, September 13th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $36.00 price target on shares of Lovesac in a report on Friday, September 13th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Lovesac currently has an average rating of “Buy” and a consensus target price of $35.17.

Lovesac Stock Performance

NASDAQ LOVE traded up $0.09 on Tuesday, hitting $31.74. 10,098 shares of the stock traded hands, compared to its average volume of 284,935. Lovesac has a 12 month low of $18.21 and a 12 month high of $32.42. The business’s fifty day moving average is $27.97 and its two-hundred day moving average is $26.03. The firm has a market capitalization of $493.87 million, a price-to-earnings ratio of 62.24, a PEG ratio of 0.82 and a beta of 2.91.

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

Insider Activity at Lovesac

In related news, Director Albert Jack Krause sold 10,000 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total transaction of $262,200.00. Following the transaction, the director now owns 177,849 shares in the company, valued at $4,663,200.78. The trade was a 5.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lovesac

A number of large investors have recently modified their holdings of the stock. EntryPoint Capital LLC bought a new position in Lovesac in the first quarter worth $39,000. Meeder Asset Management Inc. purchased a new position in Lovesac during the 2nd quarter valued at about $43,000. SG Americas Securities LLC bought a new stake in Lovesac during the third quarter worth about $170,000. Valeo Financial Advisors LLC bought a new position in Lovesac during the 3rd quarter valued at approximately $242,000. Finally, Quest Partners LLC grew its position in Lovesac by 797.6% during the 2nd quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock valued at $194,000 after purchasing an additional 7,617 shares during the last quarter. Institutional investors own 91.32% of the company’s stock.

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.