The Lovesac Company (NASDAQ:LOVE) Receives $34.50 Average PT from Brokerages

Shares of The Lovesac Company (NASDAQ:LOVE) have been given a consensus rating of “Buy” by the six ratings firms that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have covered the stock in the last year is $34.50.

A number of brokerages have weighed in on LOVE. Roth Mkm lifted their target price on Lovesac from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, September 13th. DA Davidson lifted their target price on Lovesac from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Canaccord Genuity Group restated a “buy” rating and set a $36.00 price objective on shares of Lovesac in a report on Friday, September 13th. Maxim Group boosted their price objective on Lovesac from $36.00 to $38.00 and gave the company a “buy” rating in a report on Monday, June 17th. Finally, Craig Hallum boosted their price objective on Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a report on Friday, September 13th.

Lovesac Stock Performance

Shares of LOVE stock opened at $27.62 on Friday. The company has a market cap of $429.52 million, a P/E ratio of 32.49, a PEG ratio of 0.55 and a beta of 2.90. The stock has a 50 day simple moving average of $24.90 and a two-hundred day simple moving average of $24.05. Lovesac has a fifty-two week low of $14.18 and a fifty-two week high of $30.39.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LOVE. EntryPoint Capital LLC purchased a new position in shares of Lovesac during the first quarter valued at approximately $39,000. Meeder Asset Management Inc. purchased a new position in shares of Lovesac during the second quarter valued at approximately $43,000. Quest Partners LLC boosted its position in shares of Lovesac by 797.6% during the second quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock valued at $194,000 after buying an additional 7,617 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Lovesac by 106.1% during the first quarter. SG Americas Securities LLC now owns 9,376 shares of the company’s stock valued at $212,000 after buying an additional 4,826 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Lovesac by 8.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock valued at $218,000 after buying an additional 726 shares during the last quarter. Hedge funds and other 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.