Bob’s Discount Furniture (NYSE:BOBS) Trading 7.3% Higher – Time to Buy?

Bob’s Discount Furniture, Inc. (NYSE:BOBS) traded up 7.3% during trading on Wednesday . The stock traded as high as $16.67 and last traded at $16.7350. 461,103 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 1,160,959 shares. The stock had previously closed at $15.60.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BOBS. Craig Hallum initiated coverage on shares of Bob’s Discount Furniture in a research note on Wednesday, April 1st. They set a “buy” rating and a $21.00 target price on the stock. Evercore restated an “outperform” rating and issued a $16.00 price objective on shares of Bob’s Discount Furniture in a report on Friday, May 8th. Robert W. Baird set a $14.00 price objective on Bob’s Discount Furniture in a research report on Friday, May 8th. Royal Bank Of Canada reduced their target price 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. Finally, UBS Group lowered their target price on Bob’s Discount Furniture from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Eleven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $22.92.

Bob’s Discount Furniture Price Performance

The stock’s 50-day moving average price is $13.60. The firm has a market capitalization of $2.16 billion and a P/E ratio of 37.52.

Bob’s Discount Furniture (NYSE:BOBS) last announced its earnings results on Thursday, May 7th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.12). The business had revenue of $578.10 million for the quarter. During the same quarter 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 Buying and Selling

In related news, insider William G. Barton bought 22,150 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were purchased at an average cost of $13.56 per share, with a total value of $300,354.00. Following the completion of the purchase, the insider owned 22,150 shares in the company, valued at approximately $300,354. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.