Bob’s Discount Furniture (NYSE:BOBS) Trading Up 14% – Here’s What Happened

Bob’s Discount Furniture, Inc. (NYSE:BOBS) shares were up 14% during mid-day trading on Wednesday . The stock traded as high as $12.09 and last traded at $11.95. Approximately 296,539 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 1,265,402 shares. The stock had previously closed at $10.48.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BOBS shares. Raymond James Financial upgraded Bob’s Discount Furniture to a “moderate buy” rating in a research note on Monday, March 2nd. Morgan Stanley cut their price objective on Bob’s Discount Furniture from $25.50 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday, March 18th. KeyCorp started coverage on Bob’s Discount Furniture in a report on Monday, March 2nd. They set an “overweight” rating and a $28.00 price objective on the stock. Robert W. Baird cut their price objective on Bob’s Discount Furniture from $22.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Finally, Bank of America started coverage on Bob’s Discount Furniture in a report on Monday, March 2nd. They set a “buy” rating and a $28.00 price objective on the stock. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.67.

Bob’s Discount Furniture Price Performance

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

Insider Transactions at Bob’s Discount Furniture

In other Bob’s Discount Furniture news, Director John Thomas Kilgallon sold 2,917,500 shares of the company’s stock in a transaction dated 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 sale, the director owned 95,370,751 shares in the company, valued at approximately $1,520,209,770.94. The trade was a 2.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jennifer Lynn Davis sold 2,917,500 shares of the company’s 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 sale, the director owned 95,370,751 shares in the company, 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. 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.