The Lovesac (NASDAQ:LOVE) had its target price increased by Stifel Nicolaus from $75.00 to $105.00 in a report released on Thursday morning, The Fly reports. Stifel Nicolaus currently has a buy rating on the stock.
Other research analysts have also issued research reports about the company. BTIG Research raised their target price on The Lovesac from $78.00 to $98.00 and gave the company a buy rating in a report on Thursday. They noted that the move was a valuation call. Oppenheimer lifted their price target on The Lovesac from $60.00 to $85.00 and gave the stock an outperform rating in a report on Tuesday, April 20th. Roth Capital lifted their price target on The Lovesac from $85.00 to $95.00 and gave the stock a buy rating in a report on Tuesday. Canaccord Genuity lifted their price target on The Lovesac from $77.00 to $98.00 and gave the stock a buy rating in a report on Thursday. Finally, DA Davidson lifted their price target on The Lovesac from $57.00 to $85.00 and gave the stock a buy rating in a report on Thursday, April 15th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The Lovesac has a consensus rating of Buy and an average target price of $96.38.
Shares of The Lovesac stock opened at $87.40 on Thursday. The Lovesac has a 52 week low of $18.88 and a 52 week high of $95.51. The firm has a 50 day moving average price of $73.96. The firm has a market capitalization of $1.31 billion, a PE ratio of 100.46, a PEG ratio of 5.99 and a beta of 2.49.
In other The Lovesac news, CEO Shawn David Nelson sold 6,000 shares of the business’s stock in a transaction on Monday, April 19th. The stock was sold at an average price of $69.00, for a total value of $414,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 31.31% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC bought a new stake in shares of The Lovesac in the first quarter valued at $25,000. Point72 Hong Kong Ltd bought a new stake in shares of The Lovesac in the first quarter valued at $25,000. Royal Bank of Canada grew its position in shares of The Lovesac by 97.9% in the first quarter. Royal Bank of Canada now owns 651 shares of the company’s stock valued at $37,000 after purchasing an additional 322 shares in the last quarter. Captrust Financial Advisors grew its position in shares of The Lovesac by 37.4% in the first quarter. Captrust Financial Advisors now owns 892 shares of the company’s stock valued at $50,000 after purchasing an additional 243 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of The Lovesac in the first quarter valued at $102,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.
The 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 accessories comprising drink holders, foot sac blankets, decorative pillows, fitted seat tables, and ottomans. As of January 31, 2021, the Company operated 108 showrooms.
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