Bob’s Discount Furniture (NYSE:BOBS) Shares Up 10.9% – Time to Buy?

Bob’s Discount Furniture, Inc. (NYSE:BOBS)’s stock price shot up 10.9% on Wednesday . The company traded as high as $13.32 and last traded at $13.46. 98,869 shares were traded during mid-day trading, a decline of 92% from the average session volume of 1,223,081 shares. The stock had previously closed at $12.14.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BOBS. KeyCorp began coverage on shares of Bob’s Discount Furniture in a report on Monday, March 2nd. They set an “overweight” rating and a $28.00 price objective for the company. Royal Bank Of Canada reduced their price target on shares of Bob’s Discount Furniture from $25.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. The Goldman Sachs Group assumed coverage on Bob’s Discount Furniture in a research note on Monday, March 2nd. They issued a “neutral” rating and a $25.00 price target for the company. Robert W. Baird set a $14.00 price target on Bob’s Discount Furniture in a research note on Friday, May 8th. Finally, Loop Capital assumed coverage on Bob’s Discount Furniture in a research note on Monday, March 2nd. They issued a “buy” rating and a $28.00 price target for the company. Eleven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.92.

Bob’s Discount Furniture Stock Up 12.9%

The stock has a 50 day moving average price of $11.86.

Bob’s Discount Furniture (NYSE:BOBS) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.12). The company had revenue of $578.10 million during the quarter. During the same period in the prior year, the business earned $0.13 earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year.

Insider Activity at Bob’s Discount Furniture

In other Bob’s Discount Furniture news, insider William G. Barton purchased 22,150 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was acquired at an average cost of $13.56 per share, with a total value of $300,354.00. Following the acquisition, the insider owned 22,150 shares of the company’s stock, valued at approximately $300,354. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.20% of the company’s stock.

Bob’s Discount Furniture Company Profile

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.