Bob’s Discount Furniture (NYSE:BOBS) Stock Jumps 7.8% – Should You Buy?

Bob’s Discount Furniture, Inc. (NYSE:BOBS)’s stock price was up 7.8% during mid-day trading on Thursday. The stock traded as high as $14.42 and last traded at $14.5950. Approximately 19,257 shares were traded during mid-day trading, a decline of 98% from the average session volume of 1,067,249 shares. The stock had previously closed at $13.54.

Wall Street Analysts Forecast Growth

BOBS has been the subject of several research reports. Robert W. Baird set a $19.00 price target on shares of Bob’s Discount Furniture in a research report on Friday, August 7th. Royal Bank Of Canada raised their price objective on shares of Bob’s Discount Furniture from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Weiss Ratings raised shares of Bob’s Discount Furniture from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 17th. Finally, Evercore set a $18.00 target price on shares of Bob’s Discount Furniture in a research report on Tuesday. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.83.

Bob’s Discount Furniture Stock Performance

The company has a market cap of $1.92 billion and a PE ratio of 22.91. The company has a current ratio of 0.90, a quick ratio of 0.28 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $16.05 and its two-hundred day moving average is $14.39.

Bob’s Discount Furniture (NYSE:BOBS) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.20. The business had revenue of $619.57 million during the quarter. On average, equities research analysts anticipate that Bob’s Discount Furniture, Inc. will post 0.93 EPS for the current year.

Hedge Funds Weigh In On Bob’s Discount Furniture

A number of hedge funds have recently made changes to their positions in BOBS. State Street Corp bought a new position in shares of Bob’s Discount Furniture in the second quarter worth about $4,683,000. HBK Investments L P purchased a new stake in shares of Bob’s Discount Furniture during the second quarter worth about $3,955,000. Readystate Asset Management LP bought a new stake in Bob’s Discount Furniture during the 2nd quarter valued at approximately $237,000. Alyeska Investment Group L.P. bought a new stake in Bob’s Discount Furniture during the 2nd quarter valued at approximately $16,599,000. Finally, Penn Capital Management Company LLC bought a new stake in Bob’s Discount Furniture during the 2nd quarter valued at approximately $423,000.

About Bob’s Discount Furniture

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.