The Lovesac (NASDAQ:LOVE) Issues Earnings Results

The Lovesac (NASDAQ:LOVE) issued its quarterly earnings results on Tuesday. The company reported $1.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.79, MarketWatch Earnings reports. The Lovesac had a negative return on equity of 1.84% and a negative net margin of 0.55%. The company had revenue of $129.70 million during the quarter, compared to analysts’ expectations of $116.13 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The firm’s revenue was up 40.7% compared to the same quarter last year.

NASDAQ LOVE opened at $62.28 on Thursday. The Lovesac has a 1 year low of $5.75 and a 1 year high of $72.33. The company has a market capitalization of $914.46 million, a PE ratio of -479.08, a P/E/G ratio of 13.79 and a beta of 2.58. The company has a fifty day moving average of $59.76 and a two-hundred day moving average of $44.85.

LOVE has been the subject of a number of research reports. Craig Hallum lifted their price target on The Lovesac from $50.00 to $85.00 in a research report on Wednesday. Zacks Investment Research upgraded The Lovesac from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Tuesday, March 16th. Stifel Nicolaus reiterated a “buy” rating and set a $66.00 price objective on shares of The Lovesac in a research note on Monday, March 15th. Canaccord Genuity lifted their price objective on The Lovesac from $65.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Oppenheimer reiterated a “buy” rating and set a $60.00 price objective on shares of The Lovesac in a research note on Tuesday, January 26th. Eight equities research analysts have rated the stock with a buy rating, The Lovesac has a consensus rating of “Buy” and a consensus target price of $69.75.

In other news, CEO Shawn David Nelson sold 6,000 shares of the stock in a transaction dated Tuesday, January 19th. The shares were sold at an average price of $49.34, for a total transaction of $296,040.00. Following the completion of the sale, the chief executive officer now owns 118,523 shares in the company, valued at $5,847,924.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew R. Heyer sold 3,342 shares of the stock in a transaction dated Friday, January 15th. The stock was sold at an average price of $50.02, for a total transaction of $167,166.84. The disclosure for this sale can be found here. Insiders sold 324,342 shares of company stock valued at $18,582,007 in the last 90 days. 31.31% of the stock is currently owned by insiders.

The Lovesac Company Profile

The Lovesac Company designs, manufactures, and sells foam filled furniture, sectional couches, and related accessories. The company 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.

Featured Story: What is a dead cat bounce?

Earnings History for The Lovesac (NASDAQ:LOVE)

Receive News & Ratings for The Lovesac Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Lovesac and related companies with MarketBeat.com's FREE daily email newsletter.