Bob’s Discount Furniture, Inc.’s (NYSE:BOBS) Quiet Period To End on March 17th

Bob’s Discount Furniture’s (NYSE:BOBS) quiet period is set to expire on Tuesday, March 17th. Bob’s Discount Furniture had issued 19,450,000 shares in its initial public offering on February 5th. The total size of the offering was $330,650,000 based on an initial share price of $17.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Loop Capital assumed coverage on Bob’s Discount Furniture in a research note on Monday, March 2nd. They issued a “buy” rating and a $28.00 target price for the company. DA Davidson assumed coverage on Bob’s Discount Furniture in a research note on Monday, February 23rd. They issued a “buy” rating and a $26.00 price target on the stock. The Goldman Sachs Group started coverage on Bob’s Discount Furniture in a research report on Monday, March 2nd. They set a “neutral” rating and a $25.00 price objective for the company. Bank of America assumed coverage on shares of Bob’s Discount Furniture in a report on Monday, March 2nd. They set a “buy” rating and a $28.00 target price on the stock. Finally, Robert W. Baird assumed coverage on shares of Bob’s Discount Furniture in a research report on Monday, March 2nd. They issued a “neutral” rating and a $22.00 target price on the stock. Ten analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.32.

Bob’s Discount Furniture Trading Down 6.8%

Shares of BOBS stock opened at $15.38 on Friday. Bob’s Discount Furniture has a one year low of $15.13 and a one year high of $23.49.

Insider Activity at Bob’s Discount Furniture

In other news, Director Jennifer Lynn Davis sold 2,917,500 shares of the stock in a transaction that occurred 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 sale, the director owned 95,370,751 shares in the company, valued at $1,520,209,770.94. This represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John Thomas Kilgallon sold 2,917,500 shares of the firm’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 transaction of $46,504,950.00. Following 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. Corporate insiders own 3.20% of the company’s stock.

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.