Zacks: Brokerages Anticipate Lovesac Co (NASDAQ:LOVE) Will Announce Quarterly Sales of $54.22 Million

Equities analysts predict that Lovesac Co (NASDAQ:LOVE) will announce $54.22 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Lovesac’s earnings, with estimates ranging from $54.00 million to $54.35 million. Lovesac posted sales of $41.69 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 30.1%. The firm is expected to report its next quarterly earnings report on Tuesday, December 17th.

On average, analysts expect that Lovesac will report full year sales of $238.98 million for the current financial year, with estimates ranging from $237.54 million to $240.10 million. For the next year, analysts expect that the business will report sales of $318.61 million, with estimates ranging from $312.20 million to $330.41 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Lovesac.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings data on Wednesday, September 11th. The company reported ($0.31) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.51) by $0.20. Lovesac had a negative return on equity of 9.23% and a negative net margin of 4.06%. The firm had revenue of $48.10 million during the quarter, compared to analysts’ expectations of $47.78 million. Lovesac’s quarterly revenue was up 44.9% compared to the same quarter last year.

Several equities analysts have recently issued reports on LOVE shares. Zacks Investment Research upgraded Lovesac from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Tuesday, September 17th. Oppenheimer started coverage on Lovesac in a research note on Thursday, August 8th. They issued an “outperform” rating and a $30.00 price target on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $32.00 price target on shares of Lovesac in a research note on Wednesday, September 11th. Roth Capital decreased their price target on Lovesac from $47.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $33.00 price target on shares of Lovesac in a research note on Tuesday, September 17th. Eight analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average price target of $34.00.

Shares of LOVE traded up $1.11 during midday trading on Monday, hitting $17.52. The company’s stock had a trading volume of 419,002 shares, compared to its average volume of 378,075. Lovesac has a one year low of $15.07 and a one year high of $46.79. The company’s fifty day simple moving average is $18.07 and its two-hundred day simple moving average is $27.04.

Hedge funds have recently modified their holdings of the stock. Glen Harbor Capital Management LLC bought a new stake in Lovesac during the 2nd quarter worth $29,000. Elkfork Partners LLC bought a new stake in Lovesac during the 2nd quarter worth $35,000. BNP Paribas Arbitrage SA grew its position in Lovesac by 1,264.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,187 shares of the company’s stock worth $33,000 after acquiring an additional 1,100 shares during the last quarter. Morgan Stanley grew its position in Lovesac by 196.3% during the 2nd quarter. Morgan Stanley now owns 2,948 shares of the company’s stock worth $92,000 after acquiring an additional 1,953 shares during the last quarter. Finally, FNY Investment Advisers LLC grew its position in Lovesac by 13.4% during the 2nd quarter. FNY Investment Advisers LLC now owns 4,094 shares of the company’s stock worth $127,000 after acquiring an additional 484 shares during the last quarter. Institutional investors and hedge funds own 70.13% of the company’s stock.

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.

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Earnings History and Estimates for Lovesac (NASDAQ:LOVE)

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