Bob’s Discount Furniture (NYSE:BOBS) Trading Down 4.3% – Should You Sell?

Shares of Bob’s Discount Furniture, Inc. (NYSE:BOBS) were down 4.3% during mid-day trading on Friday . The company traded as low as $17.20 and last traded at $17.28. Approximately 262,453 shares were traded during mid-day trading, a decline of 77% from the average session volume of 1,141,868 shares. The stock had previously closed at $18.05.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BOBS. Royal Bank Of Canada increased their price target on shares of Bob’s Discount Furniture from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Weiss Ratings upgraded Bob’s Discount Furniture from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Robert W. Baird set a $19.00 price objective on shares of Bob’s Discount Furniture in a research report on Friday, August 7th. Evercore restated 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. Finally, UBS Group decreased their price objective on shares of Bob’s Discount Furniture from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $24.00.

Bob’s Discount Furniture Trading Down 3.3%

The stock has a 50 day simple moving average of $16.22. The company has a market cap of $2.28 billion and a PE ratio of 27.27. 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 (NYSE:BOBS) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. The business had revenue of $619.57 million for the quarter. Analysts anticipate that Bob’s Discount Furniture, Inc. will post 0.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Bob’s Discount Furniture

Several hedge funds have recently modified their holdings of the stock. Alyeska Investment Group L.P. purchased a new position in Bob’s Discount Furniture in the 2nd quarter valued at $16,599,000. Bank of New York Mellon Corp acquired a new stake in shares of Bob’s Discount Furniture in the 2nd quarter worth $700,000. Finally, Penn Capital Management Company LLC purchased a new stake in shares of Bob’s Discount Furniture in the second quarter valued at about $423,000.

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.