Bob’s Discount Furniture (NYSE:BOBS) Trading Up 15% – Should You Buy?

Shares of Bob’s Discount Furniture, Inc. (NYSE:BOBS) were up 15% on Thursday . The stock traded as high as $11.70 and last traded at $11.3230. Approximately 346,985 shares changed hands during trading, a decline of 71% from the average daily volume of 1,198,667 shares. The stock had previously closed at $9.85.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BOBS shares. UBS Group cut their price target 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. Loop Capital initiated coverage on Bob’s Discount Furniture in a research note on Monday, March 2nd. They issued a “buy” rating and a $28.00 target price for the company. Bank of America initiated coverage on Bob’s Discount Furniture in a research note on Monday, March 2nd. They issued a “buy” rating and a $28.00 target price for the company. Morgan Stanley cut their target price on Bob’s Discount Furniture from $25.50 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, March 18th. Finally, Zacks Research upgraded Bob’s Discount Furniture to a “hold” rating in a research note on Tuesday, March 3rd. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.83.

Bob’s Discount Furniture Price Performance

The firm’s fifty day moving average price is $13.78.

Bob’s Discount Furniture (NYSE:BOBS) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.12). The business had revenue of $578.10 million during the quarter. During the same period in the previous year, the company posted $0.13 EPS. The company’s revenue was up 8.5% on a year-over-year basis.

Insider Activity

In other Bob’s Discount Furniture news, Director John Thomas Kilgallon sold 2,917,500 shares of the firm’s stock in a transaction dated Friday, February 13th. The stock was 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 of the company’s stock, valued at $1,520,209,770.94. This trade represents a 2.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jennifer Lynn Davis sold 2,917,500 shares of the firm’s stock in a transaction dated 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 directly owned 95,370,751 shares in the company, valued at approximately $1,520,209,770.94. The trade was a 2.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 3.20% of the company’s stock.

About Bob’s Discount Furniture

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.