Bob’s Discount Furniture, Inc. (NYSE:BOBS) Stock Has Consensus Price Target of $24.00

Bob’s Discount Furniture, Inc. (NYSE:BOBS) has been assigned an average rating of “Moderate Buy” from the fifteen brokerages that are presently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $23.83.

A number of brokerages have commented on BOBS. Royal Bank Of Canada lifted their target price on shares of Bob’s Discount Furniture from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Robert W. Baird set a $19.00 price target on shares of Bob’s Discount Furniture in a report on Friday, August 7th. Weiss Ratings raised shares of Bob’s Discount Furniture from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 17th. Finally, Evercore set a $18.00 price objective on Bob’s Discount Furniture in a report on Tuesday.

Institutional Investors Weigh In On Bob’s Discount Furniture

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue purchased a new stake in Bob’s Discount Furniture in the third quarter valued at $93,000. Readystate Asset Management LP purchased a new position in Bob’s Discount Furniture during the second quarter worth about $237,000. Penn Capital Management Company LLC purchased a new position in Bob’s Discount Furniture during the second quarter worth about $423,000. Bank of New York Mellon Corp purchased a new position in Bob’s Discount Furniture during the second quarter worth about $700,000. Finally, HBK Investments L P acquired a new stake in shares of Bob’s Discount Furniture during the second quarter valued at about $3,955,000.

Bob’s Discount Furniture Stock Up 8.4%

NYSE BOBS opened at $14.68 on Tuesday. Bob’s Discount Furniture has a 52 week low of $9.73 and a 52 week high of $23.49. The company has a quick ratio of 0.28, a current ratio of 0.90 and a debt-to-equity ratio of 0.14. The business’s fifty day simple moving average is $15.98 and its 200-day simple moving average is $14.42. The firm has a market cap of $1.92 billion and a PE ratio of 22.93.

Bob’s Discount Furniture (NYSE:BOBS) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.20 earnings per share for the quarter, meeting the consensus estimate of $0.20. The firm had revenue of $619.57 million for the quarter. As a group, equities analysts anticipate that Bob’s Discount Furniture will post 0.93 earnings per share for the current year.

Bob’s Discount Furniture Company Profile

Bob’s Discount Furniture (NYSE: BOBS) is a U.S. furniture retailer that sells value-oriented furniture and home furnishings through its retail stores and e-commerce platform. The company serves residential customers seeking affordable products for a range of rooms and home settings.

Its merchandise includes living room, bedroom, dining room, home office and children’s furniture, as well as mattresses, rugs, lighting, décor and other home accessories. Bob’s also provides related services such as furniture delivery, assembly and financing options, subject to applicable terms.

Founded in 1991 by Robert “Bob” Kaufman, the company is headquartered in Manchester, Connecticut, and operates primarily across the United States, with a retail presence concentrated in the Northeast, Mid-Atlantic, Midwest and other regions.