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

Shares of The Lovesac Company (NASDAQ:LOVE) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $37.14 and last traded at $37.07, with a volume of 52581 shares changing hands. The stock had previously closed at $34.71.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $36.00 target price on shares of Lovesac in a report on Friday, September 13th. Roth Mkm upped 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. DA Davidson reissued a “buy” rating and issued a $32.00 target price on shares of Lovesac in a research note on Thursday, October 3rd. Finally, Craig Hallum boosted their target price on Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $35.17.

Lovesac Stock Down 0.1 %

The stock has a market capitalization of $576.62 million, a P/E ratio of 73.31, a price-to-earnings-growth ratio of 1.01 and a beta of 2.91. The company has a fifty day simple moving average of $29.27 and a two-hundred day simple moving average of $26.49.

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

Insider Buying and Selling

In related news, Director Albert Jack Krause sold 10,000 shares of Lovesac stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total value of $262,200.00. Following the sale, the director now 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lovesac

A number of large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its position in shares of Lovesac by 12.8% in the first quarter. Russell Investments Group Ltd. now owns 13,966 shares of the company’s stock worth $316,000 after purchasing an additional 1,584 shares in the last quarter. Vanguard Group Inc. increased its stake in Lovesac by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 841,537 shares of the company’s stock valued at $19,019,000 after buying an additional 11,745 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Lovesac by 8.2% during the 1st 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. Wesbanco Bank Inc. acquired a new position in shares of Lovesac during the 2nd quarter worth about $305,000. Finally, Skylands Capital LLC grew its holdings in shares of Lovesac by 6.3% in the 2nd quarter. Skylands Capital LLC now owns 218,500 shares of the company’s stock valued at $4,934,000 after acquiring an additional 12,960 shares in the last quarter. 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.