Shares of Lovesac Co (NASDAQ:LOVE) have received an average recommendation of “Buy” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $38.83.

A number of equities research analysts recently weighed in on LOVE shares. Canaccord Genuity set a $49.00 price objective on Lovesac and gave the stock a “buy” rating in a research report on Wednesday, June 19th. Zacks Investment Research upgraded Lovesac from a “strong sell” rating to a “hold” rating in a research report on Friday, August 9th. Stifel Nicolaus started coverage on Lovesac in a research report on Friday, June 21st. They set a “buy” rating and a $38.00 price objective on the stock. Craig Hallum restated a “buy” rating and set a $45.00 price objective (up previously from $33.00) on shares of Lovesac in a research report on Wednesday, May 1st. Finally, Oppenheimer started coverage on Lovesac in a research report on Thursday, August 8th. They set an “outperform” rating and a $30.00 price objective on the stock.

In related news, major shareholder Sac Acquisition Llc sold 1,457,255 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $34.38, for a total transaction of $50,100,426.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Satori Capital, Llc sold 550,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $34.38, for a total value of $18,909,000.00. The disclosure for this sale can be found here. Insiders own 54.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in LOVE. BlackRock Inc. boosted its position in shares of Lovesac by 44.1% during the 2nd quarter. BlackRock Inc. now owns 430,739 shares of the company’s stock valued at $13,383,000 after purchasing an additional 131,791 shares in the last quarter. Vanguard Group Inc. raised its stake in Lovesac by 36.3% during the 2nd quarter. Vanguard Group Inc. now owns 391,068 shares of the company’s stock worth $12,150,000 after buying an additional 104,219 shares during the period. Calamos Advisors LLC acquired a new position in Lovesac during the 2nd quarter worth approximately $3,207,000. Columbus Circle Investors acquired a new position in Lovesac during the 2nd quarter worth approximately $1,975,000. Finally, Spark Investment Management LLC raised its stake in Lovesac by 212.3% during the 1st quarter. Spark Investment Management LLC now owns 90,569 shares of the company’s stock worth $2,518,000 after buying an additional 61,569 shares during the period. Institutional investors own 49.24% of the company’s stock.

LOVE stock traded down $0.75 during midday trading on Friday, reaching $18.01. 5,158 shares of the stock were exchanged, compared to its average volume of 236,707. Lovesac has a 52 week low of $16.46 and a 52 week high of $46.79. The firm has a fifty day moving average of $24.31.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings data on Monday, June 10th. The company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.11). The firm had revenue of $40.96 million for the quarter, compared to the consensus estimate of $40.66 million. Lovesac had a negative return on equity of 8.59% and a negative net margin of 5.62%. The business’s quarterly revenue was up 53.0% on a year-over-year basis. On average, sell-side analysts anticipate that Lovesac will post -0.7 earnings per share for the current fiscal year.

About Lovesac

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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Analyst Recommendations for Lovesac (NASDAQ:LOVE)

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