Bob’s Discount Furniture (NYSE:BOBS) Trading Down 5.4% – Here’s What Happened

Shares of Bob’s Discount Furniture, Inc. (NYSE:BOBS) dropped 5.4% on Tuesday . The stock traded as low as $15.54 and last traded at $15.4890. 344,908 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 1,151,717 shares. The stock had previously closed at $16.37.

Wall Street Analysts Forecast Growth

BOBS has been the topic of a number of recent research reports. Robert W. Baird set a $14.00 target price on shares of Bob’s Discount Furniture in a report on Friday, May 8th. Craig Hallum assumed coverage on shares of Bob’s Discount Furniture in a research note on Wednesday, April 1st. They set a “buy” rating and a $21.00 price target for the company. Evercore reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Bob’s Discount Furniture in a report on Friday, May 8th. Weiss Ratings began coverage on shares of Bob’s Discount Furniture in a research note on Thursday, May 14th. They set a “sell (d)” rating for the company. Finally, UBS Group lowered their price target on 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 analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.92.

Bob’s Discount Furniture Stock Performance

The firm has a 50 day moving average of $13.92. The company has a market cap of $2.02 billion and a price-to-earnings ratio of 35.33.

Bob’s Discount Furniture (NYSE:BOBS) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.12). The company had revenue of $578.10 million for the quarter. The company’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the business posted $0.13 EPS.

Insider Buying and Selling at Bob’s Discount Furniture

In other news, insider William G. Barton purchased 22,150 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were acquired at an average cost of $13.56 per share, for a total transaction of $300,354.00. Following the completion of the purchase, the insider directly owned 22,150 shares in the company, valued at $300,354. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.20% of the stock is currently owned by insiders.

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.