Bob’s Discount Furniture (NYSE:BOBS) Stock Price Down 4.8% – Time to Sell?

Shares of Bob’s Discount Furniture, Inc. (NYSE:BOBS) dropped 4.8% during mid-day trading on Monday . The stock traded as low as $12.38 and last traded at $12.39. Approximately 232,855 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 1,230,515 shares. The stock had previously closed at $13.02.

Analyst Ratings Changes

BOBS has been the topic of several recent research reports. The Goldman Sachs Group initiated coverage on shares of Bob’s Discount Furniture in a research note on Monday, March 2nd. They issued a “neutral” rating and a $25.00 price target on the stock. Craig Hallum initiated coverage on shares of Bob’s Discount Furniture in a research note on Wednesday, April 1st. They issued a “buy” rating and a $21.00 price target on the stock. Royal Bank Of Canada lowered their price target on shares of Bob’s Discount Furniture from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 18th. Raymond James Financial upgraded shares of Bob’s Discount Furniture to a “moderate buy” rating in a research note on Monday, March 2nd. Finally, DA Davidson lowered their price target on shares of Bob’s Discount Furniture from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.67.

Bob’s Discount Furniture Stock Performance

The firm’s 50-day moving average price is $15.32.

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

Insider Transactions at Bob’s Discount Furniture

In other news, Director John Thomas Kilgallon sold 2,917,500 shares of Bob’s Discount Furniture stock in a transaction dated 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 transaction, the director 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. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jennifer Lynn Davis sold 2,917,500 shares of Bob’s Discount Furniture 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 directly owned 95,370,751 shares of the company’s stock, valued at approximately $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.