Brokers Set Expectations for Lovesac Co’s Q1 2020 Earnings (LOVE)

Lovesac Co (NASDAQ:LOVE) – Investment analysts at DA Davidson reduced their Q1 2020 earnings per share estimates for shares of Lovesac in a note issued to investors on Wednesday, May 1st. DA Davidson analyst T. Forte now anticipates that the company will post earnings of ($0.53) per share for the quarter, down from their prior estimate of ($0.14). DA Davidson has a “Buy” rating and a $38.00 price objective on the stock. DA Davidson also issued estimates for Lovesac’s Q2 2020 earnings at ($0.56) EPS, Q3 2020 earnings at ($0.07) EPS, Q4 2020 earnings at $0.89 EPS, FY2020 earnings at ($0.26) EPS, FY2021 earnings at $0.24 EPS and FY2022 earnings at $1.16 EPS.

A number of other research analysts also recently issued reports on the company. Zacks Investment Research upgraded Lovesac from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Saturday. Craig Hallum reiterated a “buy” rating and set a $45.00 price objective (up from $33.00) on shares of Lovesac in a report on Wednesday, May 1st. Roth Capital increased their price objective on Lovesac from $28.00 to $33.00 in a report on Wednesday, April 24th. Finally, Canaccord Genuity boosted their price target on Lovesac from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, February 11th. Five research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of $40.00.

NASDAQ:LOVE opened at $43.83 on Monday. Lovesac has a 52-week low of $16.46 and a 52-week high of $46.19.

Lovesac (NASDAQ:LOVE) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.08. The firm had revenue of $64.18 million for the quarter, compared to the consensus estimate of $55.96 million. The firm’s quarterly revenue was up 64.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 earnings per share.

Large investors have recently bought and sold shares of the business. Vanguard Group Inc acquired a new position in shares of Lovesac during the 3rd quarter worth approximately $2,300,000. Timpani Capital Management LLC increased its position in shares of Lovesac by 18.9% during the 4th quarter. Timpani Capital Management LLC now owns 48,563 shares of the company’s stock worth $1,114,000 after purchasing an additional 7,729 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Lovesac during the 3rd quarter worth approximately $4,128,000. Penn Capital Management Co. Inc. increased its position in shares of Lovesac by 55.8% during the 4th quarter. Penn Capital Management Co. Inc. now owns 107,542 shares of the company’s stock worth $2,467,000 after purchasing an additional 38,497 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its position 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 last quarter. 51.68% of the stock is currently owned by hedge funds and other institutional investors.

Lovesac Company Profile

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.

Featured Story: Cost of Capital

Earnings History and Estimates for Lovesac (NASDAQ:LOVE)

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