Lovesac (NASDAQ:LOVE) Upgraded 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 morning,Wall Street Zen reports.

Several other research firms have also recently commented on LOVE. Roth Capital restated a “buy” rating on shares of Lovesac in a research report on Friday. DA Davidson reduced their price objective on Lovesac from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Friday. Weiss Ratings raised Lovesac from a “sell (d)” rating to a “hold (c)” rating in a report on Thursday. Finally, Canaccord Genuity Group lowered their target price on Lovesac from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Lovesac presently has an average rating of “Moderate Buy” and an average price target of $21.33.

Lovesac Stock Performance

LOVE stock opened at $14.69 on Friday. The stock has a market capitalization of $211.83 million, a price-to-earnings ratio of 12.04, a PEG ratio of 0.35 and a beta of 2.03. Lovesac has a 1 year low of $10.33 and a 1 year high of $19.25. The stock’s fifty day moving average is $16.74 and its two-hundred day moving average is $15.50.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings results on Thursday, September 10th. The company reported $0.51 EPS 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 analyst estimates of $161.55 million. Lovesac had a net margin of 2.56% and a return on equity of 2.57%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm 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. As a group, analysts predict that Lovesac will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Andrew Heyer purchased 30,000 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were bought at an average cost of $14.68 per share, for a total transaction of $440,400.00. Following the transaction, the director owned 293,259 shares of the company’s stock, valued at $4,305,042.12. This represents a 11.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have bought 33,550 shares of company stock worth $490,146. 7.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LOVE. BlackRock Inc. bought a new stake in Lovesac during the second quarter worth approximately $20,250,000. Senvest Management LLC boosted its stake in Lovesac by 36.7% during the 1st quarter. Senvest Management LLC now owns 1,025,393 shares of the company’s stock valued at $15,145,000 after purchasing an additional 275,252 shares in the last quarter. AWM Investment Company Inc. acquired a new position in shares of Lovesac during the 2nd quarter valued at $10,188,000. Kanen Wealth Management LLC acquired a new position in shares of Lovesac during the 1st quarter valued at $8,064,000. Finally, Bastion Asset Management Inc. raised its stake in shares of Lovesac by 193.6% in the 1st quarter. Bastion Asset Management Inc. now owns 356,097 shares of the company’s stock worth $5,290,000 after buying an additional 234,812 shares in the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

Lovesac Company Profile

Lovesac, trading on NASDAQ under the symbol LOVE, is an American furniture company known for its modular seating systems and distinctive foam-filled “Sacs.” Founded in 1995 by Shawn Nelson, the company has built a reputation for innovative design that emphasizes comfort, durability and adaptability. Its core offerings include Sactionals—customizable sectional sofas assembled from individual “Sactional” cubes—and the original Lovesac Sacs, large fabric-covered bean bag chairs available in a variety of sizes and materials.

In addition to seating solutions, Lovesac has expanded into home entertainment products with the introduction of the Stage, a modular soundbar system designed to integrate seamlessly with Sactionals.