Bob’s Discount Furniture (NYSE:BOBS) Shares Down 7.7% – Here’s Why

Bob’s Discount Furniture, Inc. (NYSE:BOBS) fell 7.7% during mid-day trading on Wednesday . The company traded as low as $15.17 and last traded at $15.0050. Approximately 113,539 shares traded hands during trading, a decline of 90% from the average session volume of 1,173,663 shares. The stock had previously closed at $16.26.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Evercore reissued an “outperform” rating and issued a $16.00 target price on shares of Bob’s Discount Furniture in a research note on Friday, May 8th. Craig Hallum assumed coverage on Bob’s Discount Furniture in a report on Wednesday, April 1st. They issued a “buy” rating and a $21.00 price objective for the company. DA Davidson decreased their price objective on Bob’s Discount Furniture from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Royal Bank Of Canada dropped their target price on Bob’s Discount Furniture from $25.00 to $18.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Finally, Weiss Ratings started coverage on shares of Bob’s Discount Furniture in a research report on Thursday, May 14th. They set a “sell (d)” rating on the stock. Eleven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.92.

Bob’s Discount Furniture Price Performance

The company has a market capitalization of $1.91 billion and a PE ratio of 33.00. The firm’s 50 day moving average price is $13.15.

Bob’s Discount Furniture (NYSE:BOBS) last issued its earnings results on Thursday, May 7th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.12). The company had revenue of $578.10 million during the quarter. During the same quarter in the previous year, the firm posted $0.13 earnings per share. Bob’s Discount Furniture’s revenue for the quarter was up 8.5% on a year-over-year basis.

Insider Activity

In other news, insider William G. Barton bought 22,150 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were purchased at an average price of $13.56 per share, for a total transaction of $300,354.00. Following the completion of the acquisition, the insider owned 22,150 shares of the company’s stock, valued at approximately $300,354. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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.