Bob’s Discount Furniture (NYSE:BOBS) Sets New 52-Week Low – Here’s Why

Bob’s Discount Furniture, Inc. (NYSE:BOBS)’s stock price reached a new 52-week low on Monday . The company traded as low as $10.20 and last traded at $10.50, with a volume of 45872 shares trading hands. The stock had previously closed at $10.31.

Analysts Set New Price Targets

Several research firms have issued reports on BOBS. Evercore assumed coverage on Bob’s Discount Furniture in a report on Monday, March 2nd. They set an “outperform” rating and a $25.00 price objective on the stock. Loop Capital started coverage on shares of Bob’s Discount Furniture in a research report on Monday, March 2nd. They issued a “buy” rating and a $28.00 target price on the stock. Morgan Stanley cut their price target on shares of Bob’s Discount Furniture from $25.50 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday, March 18th. Zacks Research upgraded shares of Bob’s Discount Furniture to a “hold” rating in a research report on Tuesday, March 3rd. Finally, Bank of America started coverage on shares of Bob’s Discount Furniture in a research note on Monday, March 2nd. They issued a “buy” rating and a $28.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Bob’s Discount Furniture currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

Bob’s Discount Furniture Trading Up 2.9%

Bob’s Discount Furniture (NYSE:BOBS) last released its earnings results on Tuesday, March 17th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.24. The business had revenue of $648.83 million for the quarter, compared to analysts’ expectations of $647.49 million. The company’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS.

Insider Activity at Bob’s Discount Furniture

In other Bob’s Discount Furniture news, Director Jennifer Lynn Davis sold 2,917,500 shares of the stock in a transaction that occurred on 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Thomas Kilgallon sold 2,917,500 shares of the stock in a transaction that occurred on 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 completion of the sale, the director owned 95,370,751 shares of the company’s stock, valued at approximately $1,520,209,770.94. The trade was a 2.97% decrease in their position. The SEC filing for this sale provides additional information. 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.