Bob’s Discount Furniture (NYSE:BOBS) Stock Price Up 8.3% – What’s Next?

Bob’s Discount Furniture, Inc. (NYSE:BOBS) rose 8.3% during trading on Monday. The company traded as high as $17.82 and last traded at $17.95. Approximately 115,233 shares changed hands during trading, a decline of 89% from the average session volume of 1,040,490 shares. The stock had previously closed at $16.57.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada reiterated an “outperform” rating on shares of Bob’s Discount Furniture in a research report on Monday, October 26th. Weiss Ratings raised shares of Bob’s Discount Furniture from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. Evercore set a $18.00 price objective on Bob’s Discount Furniture in a research report on Tuesday, October 13th. Finally, Robert W. Baird set a $19.00 target price on shares of Bob’s Discount Furniture in a research report on Friday, August 7th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.83.

Bob’s Discount Furniture Trading Down 2.4%

The company has a market cap of $2.22 billion and a P/E ratio of 26.56. 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 has a 50 day moving average price of $15.39 and a 200-day moving average price of $14.99.

Bob’s Discount Furniture (NYSE:BOBS) last released its 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 during the quarter. Analysts forecast that Bob’s Discount Furniture, Inc. will post 0.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in Bob’s Discount Furniture during the third quarter worth approximately $93,000. State Street Corp acquired a new stake in shares of Bob’s Discount Furniture in the second quarter valued at approximately $4,683,000. HBK Investments L P bought a new position in shares of Bob’s Discount Furniture during the 2nd quarter worth approximately $3,955,000. Readystate Asset Management LP bought a new position in shares of Bob’s Discount Furniture during the 2nd quarter worth approximately $237,000. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Bob’s Discount Furniture during the 2nd quarter worth approximately $16,599,000.

About Bob’s Discount Furniture

Bob’s Discount Furniture is a U.S. furniture retailer that sells a broad selection of furniture and home furnishings at value-oriented prices. Its merchandise includes living room, bedroom, dining room and home office furniture, as well as mattresses, rugs, lighting, décor and other household products.

The company was founded in 1991 by Robert “Bob” Kaufman in Newington, Connecticut. Bob’s operates an omnichannel retail model that combines a network of showrooms with online shopping and related delivery and service capabilities.