The Lovesac (NASDAQ:LOVE) Rating Lowered to D+ at TheStreet

The Lovesac (NASDAQ:LOVE) was downgraded by equities researchers at TheStreet from a “c” rating to a “d+” rating in a research note issued on Wednesday, TheStreetRatingsTable reports.

Several other research firms also recently weighed in on LOVE. Roth Capital boosted their target price on shares of The Lovesac from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday. Zacks Investment Research downgraded shares of The Lovesac from a “buy” rating to a “hold” rating in a report on Tuesday, April 20th. DA Davidson upped their price objective on shares of The Lovesac from $85.00 to $110.00 and gave the company a “buy” rating in a report on Thursday. Oppenheimer increased their price target on shares of The Lovesac from $60.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, April 20th. Finally, Stifel Nicolaus increased their price target on shares of The Lovesac from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $96.38.

NASDAQ LOVE opened at $87.40 on Wednesday. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 100.46, a PEG ratio of 5.99 and a beta of 2.49. The stock’s 50 day moving average price is $73.96. The Lovesac has a 52 week low of $18.88 and a 52 week high of $95.51.

The Lovesac (NASDAQ:LOVE) last posted its quarterly earnings data on Tuesday, June 8th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.58) by $0.71. The firm had revenue of $82.90 million during the quarter, compared to analyst estimates of $75.06 million. The Lovesac had a net margin of 4.59% and a return on equity of 16.47%. The Lovesac’s revenue was up 52.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.58) EPS. As a group, analysts expect that The Lovesac will post 0.4 EPS for the current fiscal year.

In related news, CEO Shawn David Nelson sold 6,000 shares of the stock in a transaction on Monday, April 19th. The shares were sold at an average price of $69.00, for a total transaction of $414,000.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 31.31% of the company’s stock.

Large investors have recently bought and sold shares of the business. Acadian Asset Management LLC acquired a new position in The Lovesac during the first quarter worth $25,000. Point72 Hong Kong Ltd acquired a new position in The Lovesac during the first quarter worth $25,000. Royal Bank of Canada raised its position in The Lovesac by 97.9% during the first quarter. Royal Bank of Canada now owns 651 shares of the company’s stock worth $37,000 after acquiring an additional 322 shares during the period. Captrust Financial Advisors raised its position in The Lovesac by 37.4% during the first quarter. Captrust Financial Advisors now owns 892 shares of the company’s stock worth $50,000 after acquiring an additional 243 shares during the period. Finally, SG Americas Securities LLC acquired a new position in The Lovesac during the first quarter worth $102,000. Institutional investors own 92.15% of the company’s stock.

About The Lovesac

The Lovesac Company designs, manufactures, and sells furniture. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, foot sac blankets, decorative pillows, fitted seat tables, and ottomans. As of January 31, 2021, the Company operated 108 showrooms.

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Analyst Recommendations for The Lovesac (NASDAQ:LOVE)

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