Lovesac (NASDAQ:LOVE) Stock Rating Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Lovesac (NASDAQ:LOVE) from a hold rating to a buy rating in a research note published on Saturday,Wall Street Zen reports.

A number of other equities analysts also recently commented on LOVE. Weiss Ratings upgraded shares of Lovesac from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Roth Capital reaffirmed a “buy” rating on shares of Lovesac in a research report on Friday, September 11th. Canaccord Genuity Group decreased their price target on shares of Lovesac from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, September 10th. Finally, DA Davidson decreased their price target on shares of Lovesac from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, September 11th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Lovesac has an average rating of “Moderate Buy” and a consensus target price of $21.33.

Lovesac Stock Down 1.4%

LOVE stock opened at $16.33 on Friday. The business’s fifty day simple moving average is $15.10 and its two-hundred day simple moving average is $15.13. Lovesac has a twelve month low of $10.33 and a twelve month high of $19.25. The firm has a market cap of $235.48 million, a price-to-earnings ratio of 13.39, a PEG ratio of 0.43 and a beta of 2.17.

Lovesac (NASDAQ:LOVE) last released its earnings results on Thursday, September 10th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.87. The business had revenue of $161.25 million during the quarter, compared to the consensus estimate of $161.55 million. Lovesac had a return on equity of 2.57% and a net margin of 2.56%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the company earned ($0.45) earnings per share. Lovesac has set its Q3 2027 guidance at 0.620-0.830 EPS and its FY 2027 guidance at 0.980-1.260 EPS. Research analysts expect that Lovesac will post 1.08 EPS for the current year.

Institutional Trading of Lovesac

A number of hedge funds have recently added to or reduced their stakes in the business. AWM Investment Company Inc. bought a new position in Lovesac in the second quarter worth approximately $10,188,000. GSA Capital Partners LLP purchased a new stake in Lovesac during the second quarter worth $1,149,000. Man Group plc bought a new stake in Lovesac during the 2nd quarter valued at $1,594,000. BlackRock Inc. bought a new stake in Lovesac during the 2nd quarter valued at $20,250,000. Finally, Bank of New York Mellon Corp bought a new stake in Lovesac during the 2nd quarter valued at $869,000. 91.32% of the stock is owned by hedge funds and other institutional investors.

Lovesac Company Profile

The Lovesac Company designs, manufactures and sells furniture and home accessories focused on modularity, durability and reconfigurability. Its primary products include Sactionals, modular seating systems that can be arranged in multiple configurations, and Sacs, oversized beanbag-style seats made with specialized foam filling. The company also offers complementary products such as pillows, blankets, tables, covers and other accessories.

Lovesac sells its products through an omnichannel model that includes company-operated showrooms, its e-commerce website and select third-party retail partners.