Bob’s Discount Furniture, Inc. (NYSE:BOBS) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of Bob’s Discount Furniture, Inc. (NYSE:BOBS) have been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $24.00.

Several equities research analysts have issued reports on BOBS shares. Robert W. Baird set a $19.00 price objective on shares of Bob’s Discount Furniture in a research note on Friday, August 7th. Evercore restated an “outperform” rating and set a $20.00 target price on shares of Bob’s Discount Furniture in a report on Friday, August 7th. Weiss Ratings raised shares of Bob’s Discount Furniture from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 17th. Finally, Royal Bank Of Canada increased their price target on Bob’s Discount Furniture from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, August 6th.

Bob’s Discount Furniture Stock Performance

Bob’s Discount Furniture stock opened at $13.70 on Friday. The company has a market cap of $1.79 billion and a price-to-earnings ratio of 21.40. Bob’s Discount Furniture has a 12 month low of $9.73 and a 12 month high of $23.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.90 and a quick ratio of 0.28. The stock’s 50-day moving average is $16.73 and its 200-day moving average is $14.42.

Bob’s Discount Furniture (NYSE:BOBS) last posted its earnings results on Thursday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.20. The business had revenue of $619.57 million for the quarter. Equities analysts anticipate that Bob’s Discount Furniture will post 0.93 earnings per share for the current year.

Institutional Investors Weigh In On Bob’s Discount Furniture

Several hedge funds have recently modified their holdings of the stock. State Street Corp acquired a new position in Bob’s Discount Furniture during the 2nd quarter worth approximately $4,683,000. HBK Investments L P purchased a new stake in shares of Bob’s Discount Furniture during the second quarter valued at approximately $3,955,000. Readystate Asset Management LP purchased a new stake in shares of Bob’s Discount Furniture during the second quarter valued at approximately $237,000. Alyeska Investment Group L.P. acquired a new position in shares of Bob’s Discount Furniture during the second quarter worth $16,599,000. Finally, Penn Capital Management Company LLC acquired a new position in shares of Bob’s Discount Furniture during the second quarter worth $423,000.

About Bob’s Discount Furniture

Bob’s Discount Furniture (NYSE: BOBS) is a furniture retailer that sells a broad selection of home furnishings through its retail stores and e-commerce platform. Its product offerings include living room, bedroom, dining room and home office furniture, as well as mattresses, rugs, lighting, home accessories and other household products.

The company was founded in 1991 by Bob Kaufman in Newington, Connecticut, with a focus on offering furniture at value-oriented prices. Bob’s has since expanded beyond its New England roots and serves customers primarily across the eastern United States through a network of retail locations, delivery operations and online shopping services.

Bob’s Discount Furniture also provides services such as furniture delivery, assembly and mattress-related support.