Lovesac Co (NASDAQ:LOVE) has been given a consensus broker rating score of 1.00 (Strong Buy) from the three analysts that cover the stock, Zacks Investment Research reports. Three research analysts have rated the stock with a strong buy recommendation.
Brokers have set a 12 month consensus target price of $39.67 for the company and are expecting that the company will post ($0.56) EPS for the current quarter, according to Zacks. Zacks has also given Lovesac an industry rank of 169 out of 256 based on the ratings given to its competitors.
A number of equities research analysts have commented on LOVE shares. Zacks Investment Research cut Lovesac from a “hold” rating to a “sell” rating in a report on Thursday, February 7th. Canaccord Genuity lifted their target price on Lovesac from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, February 11th. Roth Capital lifted their target price on Lovesac from $28.00 to $33.00 in a report on Wednesday, April 24th. DA Davidson started coverage on Lovesac in a report on Monday, April 1st. They issued a “buy” rating and a $38.00 target price on the stock. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $45.00 target price (up from $33.00) on shares of Lovesac in a report on Wednesday, May 1st.
Lovesac (NASDAQ:LOVE) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.08. The business had revenue of $64.18 million for the quarter, compared to the consensus estimate of $55.96 million. Lovesac’s revenue was up 64.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 earnings per share. As a group, equities analysts anticipate that Lovesac will post -0.25 earnings per share for the current year.
Hedge funds have recently modified their holdings of the company. Vanguard Group Inc bought a new stake in shares of Lovesac in the third quarter worth about $2,300,000. Timpani Capital Management LLC grew its position in Lovesac by 18.9% in the fourth quarter. Timpani Capital Management LLC now owns 48,563 shares of the company’s stock worth $1,114,000 after acquiring an additional 7,729 shares in the last quarter. BlackRock Inc. purchased a new position in Lovesac in the third quarter worth about $4,128,000. Penn Capital Management Co. Inc. grew its position in Lovesac by 55.8% in the fourth quarter. Penn Capital Management Co. Inc. now owns 107,542 shares of the company’s stock worth $2,467,000 after acquiring an additional 38,497 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its position in Lovesac by 15.2% in the fourth quarter. Lord Abbett & CO. LLC now owns 469,143 shares of the company’s stock worth $10,762,000 after acquiring an additional 62,001 shares in the last quarter. 51.77% of the stock is currently owned by hedge funds and other institutional investors.
The Lovesac Company designs, manufactures, and sells foam filled furniture, sectional couches, and related accessories. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans.
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