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

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Bob’s Discount Furniture in a research report on Monday, March 2nd. They issued a “neutral” rating and a $25.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on shares of Bob’s Discount Furniture in a research report on Monday, March 2nd. They issued an “overweight” rating and a $29.00 target price for the company. Evercore began coverage on shares of Bob’s Discount Furniture in a research note on Monday, March 2nd. They issued an “outperform” rating and a $25.00 price target on the stock. Loop Capital began coverage on Bob’s Discount Furniture in a research report on Monday, March 2nd. They set a “buy” rating and a $28.00 price objective for the company. Finally, Raymond James Financial raised Bob’s Discount Furniture to a “moderate buy” rating in a report on Monday, March 2nd. Ten equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.32.

Bob’s Discount Furniture Stock Performance

Bob’s Discount Furniture (NYSE:BOBS) last posted its quarterly earnings data on Tuesday, March 17th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.24. The business’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 earnings per share.

Insider Activity

In other news, Director Jennifer Lynn Davis sold 2,917,500 shares of the firm’s stock in a transaction dated Friday, February 13th. The shares were 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 approximately $1,520,209,770.94. This trade represents a 2.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John Thomas Kilgallon sold 2,917,500 shares of Bob’s Discount Furniture 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 $1,520,209,770.94. This represents a 2.97% decrease in their position. The SEC filing for this sale provides additional information. 3.20% of the stock is currently owned by 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.