Bob’s Discount Furniture, Inc. (NYSE:BOBS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Bob’s Discount Furniture, Inc. (NYSE:BOBS) has earned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $24.00.

A number of equities research analysts recently weighed in on BOBS shares. Royal Bank Of Canada raised their target price on shares of Bob’s Discount Furniture from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Robert W. Baird set a $19.00 price target on shares of Bob’s Discount Furniture in a report on Friday, August 7th. Weiss Ratings raised shares of Bob’s Discount Furniture from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 17th. Finally, Evercore reiterated an “outperform” rating and issued a $20.00 target price on shares of Bob’s Discount Furniture in a research report on Friday, August 7th.

Bob’s Discount Furniture Price Performance

Shares of NYSE BOBS opened at $14.73 on Friday. The firm has a market capitalization of $1.93 billion and a P/E ratio of 23.02. 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 stock’s 50-day simple moving average is $16.89 and its two-hundred day simple moving average is $14.58. Bob’s Discount Furniture has a twelve month low of $9.73 and a twelve month high of $23.49.

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

Hedge Funds Weigh In On Bob’s Discount Furniture

A number of hedge funds and other institutional investors have recently modified their holdings of BOBS. Readystate Asset Management LP purchased a new position in shares of Bob’s Discount Furniture during the 2nd quarter valued at about $237,000. Penn Capital Management Company LLC bought a new stake in Bob’s Discount Furniture in the 2nd quarter worth approximately $423,000. Bank of New York Mellon Corp purchased a new stake in Bob’s Discount Furniture in the second quarter worth approximately $700,000. HBK Investments L P bought a new position in Bob’s Discount Furniture during the second quarter valued at approximately $3,955,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Bob’s Discount Furniture during the second quarter worth approximately $16,599,000.

About Bob’s Discount Furniture

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.