Bob’s Discount Furniture (NYSE:BOBS) Reaches New 52-Week Low – Here’s What Happened

Shares of Bob’s Discount Furniture, Inc. (NYSE:BOBS) reached a new 52-week low during trading on Tuesday . The company traded as low as $11.54 and last traded at $11.8780, with a volume of 70312 shares trading hands. The stock had previously closed at $11.95.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BOBS shares. JPMorgan Chase & Co. decreased their target price on shares of Bob’s Discount Furniture from $29.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday, March 18th. Zacks Research upgraded shares of Bob’s Discount Furniture to a “hold” rating in a research report on Tuesday, March 3rd. Robert W. Baird decreased their price target on shares of Bob’s Discount Furniture from $22.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Bank of America assumed coverage on Bob’s Discount Furniture in a research note on Monday, March 2nd. They set a “buy” rating and a $28.00 price objective for the company. Finally, UBS Group cut Bob’s Discount Furniture to a “buy” rating and set a $27.00 target price for the company. in a research report on Monday, March 2nd. Ten investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Bob’s Discount Furniture currently has a consensus rating of “Moderate Buy” and an average price target of $25.00.

Bob’s Discount Furniture Stock Down 3.2%

Bob’s Discount Furniture (NYSE:BOBS) last announced its quarterly earnings data on Tuesday, March 17th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.24. The firm had revenue of $648.83 million for the quarter, compared to analysts’ expectations of $647.49 million. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 earnings per share.

Insider Activity at Bob’s Discount Furniture

In other news, Director Jennifer Lynn Davis sold 2,917,500 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $15.94, for a total value of $46,504,950.00. Following the completion of the sale, the director directly owned 95,370,751 shares in the company, valued at approximately $1,520,209,770.94. The trade was a 2.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Thomas Kilgallon sold 2,917,500 shares of the company’s stock in a transaction on 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 sale, the director directly owned 95,370,751 shares of the company’s stock, valued at $1,520,209,770.94. This trade represents a 2.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company 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.