Wall Street brokerages expect Lovesac Co (NASDAQ:LOVE) to report sales of $54.22 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Lovesac’s earnings, with the highest sales estimate coming in at $54.35 million and the lowest estimate coming in at $54.00 million. Lovesac reported sales of $41.69 million during the same quarter last year, which indicates a positive year over year growth rate of 30.1%. The firm is scheduled to report its next quarterly earnings report on Tuesday, December 17th.

According to Zacks, analysts expect that Lovesac will report full-year sales of $238.98 million for the current fiscal year, with estimates ranging from $237.54 million to $240.10 million. For the next financial year, analysts forecast that the business will post sales of $318.61 million, with estimates ranging from $312.20 million to $330.41 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Lovesac.

Lovesac (NASDAQ:LOVE) last posted its quarterly earnings results on Wednesday, September 11th. The company reported ($0.31) earnings per share (EPS) 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 business had revenue of $48.10 million for the quarter, compared to analyst estimates of $47.78 million. The firm’s quarterly revenue was up 44.9% on a year-over-year basis.

Several research analysts have weighed in on the stock. ValuEngine raised shares of Lovesac from a “hold” rating to a “buy” rating in a research note on Friday, August 23rd. Oppenheimer started coverage on shares of Lovesac in a report on Thursday, August 8th. They issued an “outperform” rating and a $30.00 price target on the stock. Roth Capital lowered their target price on shares of Lovesac from $47.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Stifel Nicolaus reissued a “buy” rating and set a $32.00 target price on shares of Lovesac in a report on Wednesday, September 11th. Finally, Zacks Investment Research raised shares of Lovesac from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Tuesday, September 17th. Eight research analysts have rated the stock with a buy rating, Lovesac currently has a consensus rating of “Buy” and a consensus price target of $34.00.

A number of large investors have recently made changes to their positions in LOVE. Glen Harbor Capital Management LLC purchased a new position in Lovesac in the second quarter worth $29,000. Elkfork Partners LLC acquired a new stake in shares of Lovesac during the second quarter valued at about $35,000. BNP Paribas Arbitrage SA increased its position in shares of Lovesac by 1,264.4% during the first quarter. BNP Paribas Arbitrage SA now owns 1,187 shares of the company’s stock valued at $33,000 after acquiring an additional 1,100 shares during the last quarter. Morgan Stanley increased its position in shares of Lovesac by 196.3% during the second quarter. Morgan Stanley now owns 2,948 shares of the company’s stock valued at $92,000 after acquiring an additional 1,953 shares during the last quarter. Finally, FNY Investment Advisers LLC increased its position in shares of Lovesac by 13.4% during the second quarter. FNY Investment Advisers LLC now owns 4,094 shares of the company’s stock valued at $127,000 after acquiring an additional 484 shares during the last quarter. 70.13% of the stock is owned by institutional investors and hedge funds.

LOVE stock traded down $0.10 during mid-day trading on Monday, hitting $16.25. 100 shares of the company were exchanged, compared to its average volume of 464,919. The business has a fifty day simple moving average of $18.13 and a 200-day simple moving average of $27.13. Lovesac has a 12-month low of $15.07 and a 12-month high of $46.79.

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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Earnings History and Estimates for Lovesac (NASDAQ:LOVE)

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