Bob’s Discount Furniture (NYSE:BOBS) Shares Up 10.9% – Time to Buy?

Bob’s Discount Furniture, Inc. (NYSE:BOBS) shot up 10.9% during trading on Wednesday . The stock traded as high as $13.32 and last traded at $13.46. 98,869 shares were traded during mid-day trading, a decline of 92% from the average session volume of 1,223,081 shares. The stock had previously closed at $12.14.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BOBS. Weiss Ratings began coverage on shares of Bob’s Discount Furniture in a report on Thursday, May 14th. They issued a “sell (d)” rating for the company. Royal Bank Of Canada decreased their price target on shares of Bob’s Discount Furniture from $25.00 to $18.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Robert W. Baird set a $14.00 target price on shares of Bob’s Discount Furniture in a research note on Friday, May 8th. JPMorgan Chase & Co. reduced their target price on shares of Bob’s Discount Furniture from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Wednesday, March 18th. Finally, Raymond James Financial raised shares of Bob’s Discount Furniture to a “moderate buy” rating in a research note on Monday, March 2nd. Eleven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Bob’s Discount Furniture currently has an average rating of “Moderate Buy” and a consensus price target of $22.92.

Bob’s Discount Furniture Price Performance

The business’s 50 day simple moving average is $11.86.

Bob’s Discount Furniture (NYSE:BOBS) last announced 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 business had revenue of $578.10 million during the quarter. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.13 EPS.

Insiders Place Their Bets

In related news, insider William G. Barton purchased 22,150 shares of Bob’s Discount Furniture stock in a transaction dated Friday, May 8th. The stock was bought at an average cost of $13.56 per share, with a total value of $300,354.00. Following the purchase, the insider owned 22,150 shares in the company, valued at approximately $300,354. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.20% of the stock is owned by insiders.

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.