Bob’s Discount Furniture (NYSE:BOBS) Stock Price Down 6% – Should You Sell?

Bob’s Discount Furniture, Inc. (NYSE:BOBS) dropped 6% on Tuesday . The stock traded as low as $14.57 and last traded at $14.7990. Approximately 301,672 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 1,061,451 shares. The stock had previously closed at $15.74.

Analyst Ratings Changes

BOBS has been the topic of several recent research reports. Zacks Research upgraded shares of Bob’s Discount Furniture to a “hold” rating in a report on Tuesday, March 3rd. KeyCorp started coverage on Bob’s Discount Furniture in a research report on Monday, March 2nd. They issued an “overweight” rating and a $28.00 target price for the company. Evercore started coverage on Bob’s Discount Furniture in a report on Monday, March 2nd. They set an “outperform” rating and a $25.00 target price on the stock. The Goldman Sachs Group began coverage on shares of Bob’s Discount Furniture in a research note on Monday, March 2nd. They issued a “neutral” rating and a $25.00 target price for the company. Finally, Wall Street Zen raised shares of Bob’s Discount Furniture to a “hold” rating in a report on Monday, February 16th. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Bob’s Discount Furniture presently has a consensus rating of “Moderate Buy” and an average price target of $26.32.

Bob’s Discount Furniture Stock Performance

Insider Activity

In related news, Director John Thomas Kilgallon sold 2,917,500 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $15.94, for a total value of $46,504,950.00. Following the completion of the transaction, the director owned 95,370,751 shares in the company, valued at $1,520,209,770.94. This represents a 2.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jennifer Lynn Davis sold 2,917,500 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $15.94, for a total transaction of $46,504,950.00. Following the sale, the director owned 95,370,751 shares in the company, valued at $1,520,209,770.94. This trade represents a 2.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.20% of the stock is currently owned by corporate insiders.

About Bob’s Discount Furniture

Bob’s Discount Furniture (NYSE: BOBS) is a U.S.-based specialty retailer of residential furniture and home furnishings. The company operates a network of company-owned showrooms alongside an e-commerce platform to sell living room, bedroom and dining furniture, mattresses, home office pieces, and decorative accessories. Its merchandising and marketing emphasize value-oriented pricing and broad selection across mainstream categories.

In addition to merchandise sales, Bob’s Discount Furniture offers services commonly associated with full-service furniture retail, including delivery, white-glove setup in some markets, and consumer financing options.