Bob’s Discount Furniture (NYSE:BOBS) Hits New 12-Month Low – Here’s Why

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

Analysts Set New Price Targets

BOBS has been the topic of a number of research analyst reports. DA Davidson dropped their price target on Bob’s Discount Furniture from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Zacks Research upgraded shares of Bob’s Discount Furniture to a “hold” rating in a research note on Tuesday, March 3rd. JPMorgan Chase & Co. dropped their target price on shares of Bob’s Discount Furniture from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 18th. Bank of America started coverage on shares of Bob’s Discount Furniture in a research note on Monday, March 2nd. They set a “buy” rating and a $28.00 price target on the stock. Finally, KeyCorp initiated coverage on shares of Bob’s Discount Furniture in a research note on Monday, March 2nd. They set an “overweight” rating and a $28.00 price objective for the company. Ten analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

Bob’s Discount Furniture Trading Up 10.4%

Bob’s Discount Furniture (NYSE:BOBS) last issued its earnings results on Tuesday, March 17th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.24. The firm had revenue of $648.83 million during the quarter, compared to analysts’ expectations of $647.49 million. During the same quarter in the prior year, the company earned $0.36 EPS. Bob’s Discount Furniture’s quarterly revenue was up 8.2% on a year-over-year basis.

Insider Activity at Bob’s Discount Furniture

In other news, Director Jennifer Lynn Davis sold 2,917,500 shares of the stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Thomas Kilgallon sold 2,917,500 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $15.94, for a total transaction of $46,504,950.00. Following the transaction, the director owned 95,370,751 shares of the company’s stock, valued at $1,520,209,770.94. This represents a 2.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.