Bob’s Discount Furniture (NYSE:BOBS) Hits New 12-Month Low – What’s Next?

Bob’s Discount Furniture, Inc. (NYSE:BOBS)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $14.35 and last traded at $14.6380, with a volume of 2072447 shares changing hands. The stock had previously closed at $15.74.

Wall Street Analysts Forecast Growth

BOBS has been the subject of a number of research reports. DA Davidson initiated coverage on Bob’s Discount Furniture in a research note on Monday, February 23rd. They issued a “buy” rating and a $26.00 price target for the company. Robert W. Baird initiated coverage on Bob’s Discount Furniture in a report on Monday, March 2nd. They set a “neutral” rating and a $22.00 target price on the stock. The Goldman Sachs Group began coverage on Bob’s Discount Furniture in a research report on Monday, March 2nd. They issued a “neutral” rating and a $25.00 target price for the company. Morgan Stanley started coverage on Bob’s Discount Furniture in a report on Monday, March 2nd. They issued an “overweight” rating and a $25.50 price target for the company. Finally, Wall Street Zen raised Bob’s Discount Furniture to a “hold” rating in a research report on Monday, February 16th. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.32.

Bob’s Discount Furniture Stock Down 7.0%

Bob’s Discount Furniture (NYSE:BOBS) last released its quarterly earnings data on Tuesday, March 17th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.24. During the same quarter last year, the business posted $0.36 EPS. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year.

Insider Buying and Selling

In related news, Director Jennifer Lynn Davis sold 2,917,500 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $15.94, for a total transaction of $46,504,950.00. Following the completion of the transaction, the director owned 95,370,751 shares in the company, valued at $1,520,209,770.94. The trade was a 2.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Thomas Kilgallon sold 2,917,500 shares of the company’s stock in a transaction on 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 transaction, the director owned 95,370,751 shares of the company’s stock, valued at approximately $1,520,209,770.94. The trade was a 2.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.20% of the stock is currently owned by corporate insiders.

Bob’s Discount Furniture Company Profile

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.