Bob’s Discount Furniture (NYSE:BOBS) Sets New 12-Month Low – Should You Sell?

Bob’s Discount Furniture, Inc. (NYSE:BOBS) shares reached a new 52-week low on Thursday . The stock traded as low as $16.47 and last traded at $16.4660, with a volume of 1138271 shares. The stock had previously closed at $17.01.

Analyst Ratings Changes

Several equities analysts have recently commented on BOBS shares. Bank of America initiated coverage on shares of Bob’s Discount Furniture in a research report on Monday, March 2nd. They set a “buy” rating and a $28.00 price target on the stock. JPMorgan Chase & Co. began coverage on Bob’s Discount Furniture in a research note on Monday, March 2nd. They set an “overweight” rating and a $29.00 price objective on the stock. Zacks Research raised Bob’s Discount Furniture to a “hold” rating in a report on Tuesday, March 3rd. Wall Street Zen upgraded Bob’s Discount Furniture to a “hold” rating in a research report on Monday, February 16th. Finally, KeyCorp began coverage on Bob’s Discount Furniture in a report on Monday, March 2nd. They issued an “overweight” rating and a $28.00 price target for the company. Ten analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Bob’s Discount Furniture currently has an average rating of “Moderate Buy” and a consensus target price of $26.32.

Bob’s Discount Furniture Price Performance

Insider Activity at Bob’s Discount Furniture

In related news, Director John Thomas Kilgallon sold 2,917,500 shares of the business’s 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 owned 95,370,751 shares in the company, valued at $1,520,209,770.94. The trade was a 2.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jennifer Lynn Davis sold 2,917,500 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $15.94, for a total value of $46,504,950.00. Following the transaction, the director owned 95,370,751 shares of the company’s stock, valued at approximately $1,520,209,770.94. The trade was a 2.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.20% of the stock is currently owned by corporate 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.