Bob’s Discount Furniture, Inc. (NYSE:BOBS) Receives $24.00 Consensus Target Price from Brokerages

Shares of Bob’s Discount Furniture, Inc. (NYSE:BOBS) have been given a consensus rating of “Moderate Buy” by the fifteen ratings firms that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $24.00.

Several equities analysts have recently weighed in on BOBS shares. UBS Group reduced their price objective on shares of Bob’s Discount Furniture from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Robert W. Baird set a $19.00 target price on shares of Bob’s Discount Furniture in a research note on Friday, August 7th. Evercore restated an “outperform” rating and set a $20.00 target price on shares of Bob’s Discount Furniture in a report on Friday, August 7th. Weiss Ratings upgraded shares of Bob’s Discount Furniture from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 17th. Finally, Royal Bank Of Canada upped their price target on Bob’s Discount Furniture from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, August 6th.

Institutional Investors Weigh In On Bob’s Discount Furniture

Institutional investors and hedge funds have recently modified their holdings of the stock. Readystate Asset Management LP acquired a new position in shares of Bob’s Discount Furniture in the 2nd quarter valued at $237,000. Penn Capital Management Company LLC acquired a new stake in Bob’s Discount Furniture during the 2nd quarter worth about $423,000. Bank of New York Mellon Corp purchased a new stake in Bob’s Discount Furniture during the second quarter valued at about $700,000. California State Teachers Retirement System purchased a new stake in Bob’s Discount Furniture during the second quarter valued at about $6,417,000. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Bob’s Discount Furniture in the second quarter worth about $16,599,000.

Bob’s Discount Furniture Stock Up 1.8%

Shares of Bob’s Discount Furniture stock opened at $17.37 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.28 and a current ratio of 0.90. The firm has a market capitalization of $2.27 billion and a price-to-earnings ratio of 27.14. The company has a fifty day moving average price of $16.66. Bob’s Discount Furniture has a fifty-two week low of $9.73 and a fifty-two week high of $23.49.

Bob’s Discount Furniture (NYSE:BOBS) last released its 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 firm had revenue of $619.57 million for the quarter. Analysts anticipate that Bob’s Discount Furniture will post 0.93 earnings per share for the current fiscal year.

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.