JPMorgan Chase & Co. Issues Positive Forecast for Bob’s Discount Furniture (NYSE:BOBS) Stock Price

Bob’s Discount Furniture (NYSE:BOBS) had its price target hoisted by JPMorgan Chase & Co. from $22.00 to $25.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research analysts have also issued reports on the company. Robert W. Baird set a $19.00 target price on Bob’s Discount Furniture in a report on Friday, August 7th. Weiss Ratings upgraded Bob’s Discount Furniture from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 17th. Evercore set a $18.00 price target on Bob’s Discount Furniture in a research report on Tuesday, October 13th. Finally, Royal Bank Of Canada reduced their price target on Bob’s Discount Furniture from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Friday. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.67.

Bob’s Discount Furniture Stock Performance

Shares of BOBS stock opened at $19.34 on Friday. The firm has a 50 day moving average of $15.50 and a two-hundred day moving average of $15.05. The stock has a market capitalization of $2.53 billion and a PE ratio of 17.42. The company has a quick ratio of 0.28, a current ratio of 0.90 and a debt-to-equity ratio of 0.14. Bob’s Discount Furniture has a 52 week low of $9.73 and a 52 week high of $23.49.

Bob’s Discount Furniture (NYSE:BOBS) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.28 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.28. The business had revenue of $680.44 million for the quarter. Bob’s Discount Furniture had a return on equity of 30.04% and a net margin of 5.66%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 EPS. On average, research analysts predict that Bob’s Discount Furniture will post 0.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Bob’s Discount Furniture

A number of large investors have recently modified their holdings of the company. William Blair Investment Management LLC purchased a new stake in shares of Bob’s Discount Furniture during the 3rd quarter worth $33,165,000. Alyeska Investment Group L.P. acquired a new position in shares of Bob’s Discount Furniture during the second quarter worth $16,599,000. State Street Corp purchased a new position in Bob’s Discount Furniture in the second quarter valued at $4,683,000. HBK Investments L P purchased a new position in Bob’s Discount Furniture in the second quarter valued at $3,955,000. Finally, Russell Investments Group Ltd. raised its stake in Bob’s Discount Furniture by 4,192.1% in the third quarter. Russell Investments Group Ltd. now owns 67,343 shares of the company’s stock valued at $933,000 after buying an additional 65,774 shares in the last quarter.

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.