Lovesac (NASDAQ:LOVE) Announces Quarterly Earnings Results

Lovesac (NASDAQ:LOVE) issued its quarterly earnings results on Thursday. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.02, Zacks reports. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. The company had revenue of $149.90 million during the quarter, compared to the consensus estimate of $155.26 million. During the same period in the previous year, the firm posted ($0.15) EPS. Lovesac’s revenue was down 2.7% on a year-over-year basis.

Lovesac Price Performance

LOVE opened at $25.74 on Friday. Lovesac has a 12-month low of $18.21 and a 12-month high of $39.49. The firm’s fifty day moving average price is $31.54 and its 200 day moving average price is $27.30. The stock has a market capitalization of $400.51 million, a PE ratio of 50.47, a P/E/G ratio of 0.99 and a beta of 2.97.

Wall Street Analyst Weigh In

Several research firms have commented on LOVE. Craig Hallum lifted their price target on Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a report on Friday, September 13th. Canaccord Genuity Group increased their price target on shares of Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Roth Mkm lifted their price target on shares of Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday. Finally, DA Davidson reiterated a “buy” rating and issued 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, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $37.83.

Insider Buying and Selling at Lovesac

In related news, Director Albert Jack Krause sold 10,000 shares of the stock in a transaction dated Thursday, October 3rd. The shares were 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 $4,663,200.78. This trade represents a 5.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.33% of the stock is currently owned by insiders.

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.