Lovesac (LOVE) Coverage Initiated at DA Davidson

DA Davidson assumed coverage on shares of Lovesac (NASDAQ:LOVE) in a research note released on Monday, April 1st, BenzingaRatingsTable reports. The firm issued a buy rating and a $38.00 target price on the stock. DA Davidson also issued estimates for Lovesac’s Q4 2019 earnings at $0.61 EPS, Q1 2020 earnings at ($0.14) EPS, Q2 2020 earnings at ($0.43) EPS, Q3 2020 earnings at ($0.40) EPS, Q4 2020 earnings at $0.32 EPS, FY2020 earnings at ($0.65) EPS, FY2021 earnings at $0.04 EPS, FY2022 earnings at $0.96 EPS, FY2023 earnings at $2.36 EPS and FY2024 earnings at $3.61 EPS.

A number of other equities research analysts have also recently weighed in on the company. Canaccord Genuity assumed coverage on Lovesac in a report on Sunday, December 2nd. They issued a buy rating and a $19.19 price target on the stock. Zacks Investment Research cut Lovesac from a hold rating to a sell rating in a report on Friday, December 28th.

NASDAQ LOVE traded up $1.50 on Monday, hitting $30.41. 21,600 shares of the company’s stock were exchanged, compared to its average volume of 69,019. Lovesac has a fifty-two week low of $16.46 and a fifty-two week high of $34.22.

Several institutional investors have recently modified their holdings of the business. Lord Abbett & CO. LLC lifted its stake in shares of Lovesac by 15.2% during the 4th quarter. Lord Abbett & CO. LLC now owns 469,143 shares of the company’s stock worth $10,762,000 after purchasing an additional 62,001 shares during the period. Royce & Associates LP raised its position in shares of Lovesac by 49.5% in the 4th quarter. Royce & Associates LP now owns 332,172 shares of the company’s stock worth $7,620,000 after buying an additional 109,972 shares during the period. BlackRock Inc. raised its position in shares of Lovesac by 72.3% in the 4th quarter. BlackRock Inc. now owns 284,705 shares of the company’s stock worth $6,531,000 after buying an additional 119,431 shares during the period. Skylands Capital LLC raised its position in shares of Lovesac by 21.1% in the 4th quarter. Skylands Capital LLC now owns 117,050 shares of the company’s stock worth $2,685,000 after buying an additional 20,425 shares during the period. Finally, Penn Capital Management Co. Inc. raised its position in shares of Lovesac by 55.8% in the 4th quarter. Penn Capital Management Co. Inc. now owns 107,542 shares of the company’s stock worth $2,467,000 after buying an additional 38,497 shares during the period. 51.68% of the stock is currently owned by institutional investors.

About Lovesac

The Lovesac Company designs, manufactures, and sells foam filled furniture, sectional couches, and related accessories. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans.

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