Bob’s Discount Furniture (NYSE:BOBS) Shares Down 7.7% – Here’s Why

Bob’s Discount Furniture, Inc. (NYSE:BOBS)’s stock price was down 7.7% during mid-day trading on Wednesday . The company traded as low as $15.17 and last traded at $15.0050. 113,539 shares were traded during trading, a decline of 90% from the average daily volume of 1,173,663 shares. The stock had previously closed at $16.26.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BOBS shares. Morgan Stanley dropped their price objective on Bob’s Discount Furniture from $25.50 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. Royal Bank Of Canada reduced their target price on Bob’s Discount Furniture from $25.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. UBS Group decreased their price target on Bob’s Discount Furniture from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Craig Hallum started coverage on Bob’s Discount Furniture in a research note on Wednesday, April 1st. They issued a “buy” rating and a $21.00 price target for the company. Finally, Evercore reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Bob’s Discount Furniture in a research note on Friday, May 8th. Eleven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Bob’s Discount Furniture currently has an average rating of “Moderate Buy” and a consensus target price of $22.92.

Bob’s Discount Furniture Price Performance

The stock has a market capitalization of $2.00 billion and a price-to-earnings ratio of 34.76. The business’s 50 day moving average is $13.29.

Bob’s Discount Furniture (NYSE:BOBS) last released its earnings results on Thursday, May 7th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.12). The business had revenue of $578.10 million during the quarter. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 earnings per share.

Insider Activity at Bob’s Discount Furniture

In other Bob’s Discount Furniture news, insider William G. Barton purchased 22,150 shares of the stock in a transaction dated Friday, May 8th. The stock was bought at an average price of $13.56 per share, with a total value of $300,354.00. Following the acquisition, the insider owned 22,150 shares of the company’s stock, valued at approximately $300,354. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 3.20% of the company’s stock.

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.