Bob’s Discount Furniture (NYSE:BOBS) Trading Down 4% – Time to Sell?

Bob’s Discount Furniture, Inc. (NYSE:BOBS) shares were down 4% during trading on Monday . The stock traded as low as $14.22 and last traded at $14.26. Approximately 55,198 shares changed hands during trading, a decline of 95% from the average daily volume of 1,095,068 shares. The stock had previously closed at $14.86.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Bob’s Discount Furniture from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 17th. Evercore reiterated an “outperform” rating and issued a $20.00 price objective on shares of Bob’s Discount Furniture in a research report on Friday, August 7th. Robert W. Baird set a $19.00 target price on Bob’s Discount Furniture in a research note on Friday, August 7th. Finally, Royal Bank Of Canada boosted their target price on Bob’s Discount Furniture from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $24.00.

Bob’s Discount Furniture Trading Up 5.6%

The company has a market capitalization of $1.99 billion and a P/E ratio of 23.82. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.90 and a quick ratio of 0.28. The business’s 50-day moving average price is $16.84 and its two-hundred day moving average price is $14.48.

Bob’s Discount Furniture (NYSE:BOBS) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.20 EPS for the quarter, meeting analysts’ consensus estimates of $0.20. The firm had revenue of $619.57 million during the quarter. As a group, analysts forecast that Bob’s Discount Furniture, Inc. will post 0.93 EPS for the current fiscal year.

Institutional Trading of Bob’s Discount Furniture

Large investors have recently bought and sold shares of the business. Readystate Asset Management LP acquired a new stake in Bob’s Discount Furniture during the 2nd quarter worth approximately $237,000. Penn Capital Management Company LLC bought a new position in Bob’s Discount Furniture in the second quarter valued at approximately $423,000. Bank of New York Mellon Corp acquired a new position in shares of Bob’s Discount Furniture in the second quarter valued at approximately $700,000. HBK Investments L P acquired a new position in shares of Bob’s Discount Furniture in the second quarter valued at approximately $3,955,000. Finally, State Street Corp bought a new stake in shares of Bob’s Discount Furniture during the second quarter worth $4,683,000.

About Bob’s Discount Furniture

Bob’s Discount Furniture (NYSE: BOBS) is a furniture retailer that sells a broad selection of home furnishings through its retail stores and e-commerce platform. Its product offerings include living room, bedroom, dining room and home office furniture, as well as mattresses, rugs, lighting, home accessories and other household products.

The company was founded in 1991 by Bob Kaufman in Newington, Connecticut, with a focus on offering furniture at value-oriented prices. Bob’s has since expanded beyond its New England roots and serves customers primarily across the eastern United States through a network of retail locations, delivery operations and online shopping services.

Bob’s Discount Furniture also provides services such as furniture delivery, assembly and mattress-related support.