Lovesac (NASDAQ:LOVE) Reaches New 12-Month High – Should You Buy?

The Lovesac Company (NASDAQ:LOVE)’s stock price reached a new 52-week high on Monday . The stock traded as high as $37.14 and last traded at $37.07, with a volume of 52581 shares. The stock had previously closed at $34.71.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LOVE. Roth Mkm increased their price objective on Lovesac from $31.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $36.00 target price on shares of Lovesac in a report on Friday, September 13th. Craig Hallum lifted their target price on Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, DA Davidson reissued a “buy” rating and set a $32.00 target price on shares of Lovesac in a report on Thursday, October 3rd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Lovesac has an average rating of “Buy” and an average target price of $35.17.

Lovesac Stock Down 0.1 %

The business has a fifty day moving average price of $29.27 and a 200-day moving average price of $26.49. The company has a market cap of $576.62 million, a P/E ratio of 73.31, a PEG ratio of 1.01 and a beta of 2.91.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings results on Thursday, September 12th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.08. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. The business had revenue of $156.59 million during the quarter, compared to analysts’ expectations of $154.01 million. As a group, research analysts expect that The Lovesac Company will post 1.09 earnings per share for the current year.

Insider Activity

In other news, Director Albert Jack Krause sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $26.22, for a total transaction of $262,200.00. Following the transaction, the director now directly owns 177,849 shares of the company’s stock, valued at approximately $4,663,200.78. This trade represents a 5.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lovesac

A number of large investors have recently added to or reduced their stakes in LOVE. Meeder Asset Management Inc. bought a new stake in shares of Lovesac during the 2nd quarter valued at $43,000. SG Americas Securities LLC acquired a new position in Lovesac in the third quarter valued at about $170,000. Quest Partners LLC lifted its position in Lovesac by 797.6% during the second quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock worth $194,000 after purchasing an additional 7,617 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Lovesac by 8.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock worth $218,000 after buying an additional 726 shares in the last quarter. Finally, Franklin Resources Inc. bought a new position in Lovesac in the 3rd quarter valued at about $231,000. Institutional investors and hedge funds 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.