The Lovesac Company (NASDAQ:LOVE) Receives Consensus Rating of “Buy” from Brokerages

The Lovesac Company (NASDAQ:LOVE) has received a consensus recommendation of “Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $34.50.

Several research firms recently weighed in on LOVE. DA Davidson raised their price objective on Lovesac from $24.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Roth Mkm raised their price objective on Lovesac from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Craig Hallum raised their price objective on Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Maxim Group lifted their price target on Lovesac from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $36.00 price target on shares of Lovesac in a research note on Friday, September 13th.

Hedge Funds Weigh In On Lovesac

Hedge funds have recently made changes to their positions in the stock. EntryPoint Capital LLC bought a new position in shares of Lovesac during the first quarter worth about $39,000. Meeder Asset Management Inc. bought a new position in shares of Lovesac during the second quarter worth about $43,000. Quest Partners LLC raised 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 worth $194,000 after acquiring an additional 7,617 shares during the last quarter. SG Americas Securities LLC raised 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 worth $212,000 after acquiring an additional 4,826 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised 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 worth $218,000 after acquiring an additional 726 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors.

Lovesac Stock Up 5.7 %

NASDAQ:LOVE opened at $27.62 on Friday. The stock’s 50-day simple moving average is $24.90 and its 200 day simple moving average is $24.05. The firm has a market capitalization of $429.52 million, a PE ratio of 32.49, a price-to-earnings-growth ratio of 0.55 and a beta of 2.90. Lovesac has a twelve month low of $14.18 and a twelve month high of $30.39.

About Lovesac

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.