Bob’s Discount Furniture (NYSE:BOBS) Stock Price Up 10.1% – Still a Buy?

Bob’s Discount Furniture, Inc. (NYSE:BOBS)’s share price rose 10.1% during mid-day trading on Friday . The company traded as high as $13.19 and last traded at $13.1020. Approximately 945,961 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 1,234,678 shares. The stock had previously closed at $11.90.

Analyst Ratings Changes

BOBS has been the topic of several analyst reports. Raymond James Financial upgraded Bob’s Discount Furniture to a “moderate buy” rating in a research report on Monday, March 2nd. Morgan Stanley decreased their price target on Bob’s Discount Furniture from $25.50 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 18th. The Goldman Sachs Group initiated coverage on Bob’s Discount Furniture in a research report on Monday, March 2nd. They set a “neutral” rating and a $25.00 price target on the stock. KeyCorp initiated coverage on Bob’s Discount Furniture in a research report on Monday, March 2nd. They set an “overweight” rating and a $28.00 price target on the stock. Finally, Loop Capital initiated coverage on Bob’s Discount Furniture in a research report on Monday, March 2nd. They set a “buy” rating and a $28.00 price target on the stock. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $24.67.

Bob’s Discount Furniture Price Performance

The firm has a fifty day moving average price of $15.32.

Bob’s Discount Furniture (NYSE:BOBS) last issued its quarterly earnings data on Tuesday, March 17th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.11 by $0.24. The business had revenue of $648.83 million for the quarter, compared to analysts’ expectations of $647.49 million. During the same period in the previous year, the firm posted $0.36 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year.

Insider Activity

In other news, Director Jennifer Lynn Davis sold 2,917,500 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was 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 owned 95,370,751 shares of the company’s stock, valued at approximately $1,520,209,770.94. The trade was a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Thomas Kilgallon sold 2,917,500 shares of the business’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 transaction, the director directly owned 95,370,751 shares of the company’s stock, valued at $1,520,209,770.94. The trade was a 2.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.20% of the stock is currently owned by insiders.

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.