Bob’s Discount Furniture (NYSE:BOBS) Trading Down 4% – Time to Sell?

Bob’s Discount Furniture, Inc. (NYSE:BOBS) fell 4% during trading on Monday . The stock traded as low as $14.22 and last traded at $14.26. Approximately 55,198 shares traded hands during trading, a decline of 95% from the average session volume of 1,095,068 shares. The stock had previously closed at $14.86.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Robert W. Baird set a $19.00 price target on Bob’s Discount Furniture in a research note on Friday, August 7th. Royal Bank Of Canada upped their target price 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. Evercore reaffirmed an “outperform” rating and set a $20.00 price target on shares of Bob’s Discount Furniture in a research note on Friday, August 7th. Finally, 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. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Bob’s Discount Furniture presently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Bob’s Discount Furniture Trading Down 3.2%

The firm’s 50 day simple moving average is $16.87 and its 200-day simple moving average is $14.54. The company has a quick ratio of 0.28, a current ratio of 0.90 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $1.88 billion and a PE ratio of 22.50.

Bob’s Discount Furniture (NYSE:BOBS) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. The company had revenue of $619.57 million during the quarter. As a group, equities research analysts anticipate that Bob’s Discount Furniture, Inc. will post 0.93 EPS for the current year.

Hedge Funds Weigh In On Bob’s Discount Furniture

Several hedge funds and other institutional investors have recently bought and sold shares of BOBS. Readystate Asset Management LP acquired a new stake in Bob’s Discount Furniture in the second quarter valued at approximately $237,000. Penn Capital Management Company LLC purchased a new stake in shares of Bob’s Discount Furniture during the second quarter valued at approximately $423,000. Bank of New York Mellon Corp acquired a new position in shares of Bob’s Discount Furniture during the second quarter worth $700,000. HBK Investments L P purchased a new position in shares of Bob’s Discount Furniture in the second quarter valued at $3,955,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Bob’s Discount Furniture in the second quarter valued at $16,599,000.

Bob’s Discount Furniture Company Profile

Bob’s Discount Furniture (NYSE: BOBS) is a furniture retailer that sells a broad selection of home furnishings through its retail stores and e-commerce platform. Its product offerings include living room, bedroom, dining room and home office furniture, as well as mattresses, rugs, lighting, home accessories and other household products.

The company was founded in 1991 by Bob Kaufman in Newington, Connecticut, with a focus on offering furniture at value-oriented prices. Bob’s has since expanded beyond its New England roots and serves customers primarily across the eastern United States through a network of retail locations, delivery operations and online shopping services.

Bob’s Discount Furniture also provides services such as furniture delivery, assembly and mattress-related support.