Bob’s Discount Furniture (NYSE:BOBS) Sets New 12-Month Low – Should You Sell?

Shares of Bob’s Discount Furniture, Inc. (NYSE:BOBS) hit a new 52-week low during trading on Thursday . The company traded as low as $16.47 and last traded at $16.4660, with a volume of 1138271 shares trading hands. The stock had previously closed at $17.01.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BOBS. The Goldman Sachs Group started 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. JPMorgan Chase & Co. started coverage on Bob’s Discount Furniture in a research report on Monday, March 2nd. They set an “overweight” rating and a $29.00 price target on the stock. Loop Capital assumed coverage on Bob’s Discount Furniture in a report on Monday, March 2nd. They issued a “buy” rating and a $28.00 price target for the company. Bank of America initiated coverage on shares of Bob’s Discount Furniture in a research note on Monday, March 2nd. They set a “buy” rating and a $28.00 price objective on the stock. Finally, KeyCorp assumed coverage on shares of Bob’s Discount Furniture in a research report on Monday, March 2nd. They set an “overweight” rating and a $28.00 target price on the stock. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Bob’s Discount Furniture currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.32.

Bob’s Discount Furniture Trading Down 3.2%

Insider Buying and Selling

In other news, Director Jennifer Lynn Davis sold 2,917,500 shares of the 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 directly owned 95,370,751 shares in the company, valued at approximately $1,520,209,770.94. This represents a 2.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John Thomas Kilgallon sold 2,917,500 shares of the firm’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 sale, the director directly owned 95,370,751 shares of the company’s stock, valued at $1,520,209,770.94. The trade was a 2.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.20% of the company’s stock.

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.