Bob’s Discount Furniture, Inc.’s Lock-Up Period Will End Tomorrow (NYSE:BOBS)

Bob’s Discount Furniture’s (NYSE:BOBS) lock-up period is set to expire on Tuesday, August 4th. Bob’s Discount Furniture had issued 19,450,000 shares in its public offering on February 5th. The total size of the offering was $330,650,000 based on an initial share price of $17.00. After the expiration of Bob’s Discount Furniture’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada lowered their price objective on Bob’s Discount Furniture from $25.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Evercore restated an “outperform” rating and issued a $16.00 target price on shares of Bob’s Discount Furniture in a research report on Friday, May 8th. UBS Group lowered their price target on Bob’s Discount Furniture from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Weiss Ratings assumed coverage on Bob’s Discount Furniture in a research report on Thursday, May 14th. They set a “sell (d)” rating for the company. Finally, Robert W. Baird set a $14.00 price target on Bob’s Discount Furniture in a research report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.92.

Bob’s Discount Furniture Trading Up 0.2%

NYSE:BOBS opened at $16.70 on Monday. The stock has a market capitalization of $2.18 billion and a P/E ratio of 37.95. Bob’s Discount Furniture has a twelve month low of $9.73 and a twelve month high of $23.49. The stock has a 50-day simple moving average of $14.66.

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

Insider Activity

In related news, insider William G. Barton purchased 22,150 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was acquired at an average cost of $13.56 per share, for a total transaction of $300,354.00. Following the completion of the transaction, the insider directly owned 22,150 shares of the company’s stock, valued at approximately $300,354. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.20% of the stock is owned by company 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.