Bob’s Discount Furniture (NYSE:BOBS) Shares Gap Down – Should You Sell?

Shares of Bob’s Discount Furniture, Inc. (NYSE:BOBS) gapped down prior to trading on Wednesday. The stock had previously closed at $14.32, but opened at $13.50. Bob’s Discount Furniture shares last traded at $13.12, with a volume of 81,667 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BOBS shares. Weiss Ratings raised 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 set a $18.00 price target on shares of Bob’s Discount Furniture in a report on Tuesday. Robert W. Baird set a $19.00 price objective on Bob’s Discount Furniture in a research note on Friday, August 7th. Finally, Royal Bank Of Canada increased their price objective on Bob’s Discount Furniture from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.83.

Bob’s Discount Furniture Trading Down 7.6%

The firm has a fifty day moving average of $16.16 and a two-hundred day moving average of $14.37. The company has a market cap of $1.73 billion and a PE ratio of 20.70. The company has a current ratio of 0.90, a quick ratio of 0.28 and a debt-to-equity ratio of 0.14.

Bob’s Discount Furniture (NYSE:BOBS) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.20 earnings per share (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, sell-side analysts predict that Bob’s Discount Furniture, Inc. will post 0.93 EPS for the current year.

Hedge Funds Weigh In On Bob’s Discount Furniture

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

Bob’s Discount Furniture Company Profile

Bob’s Discount Furniture (NYSE: BOBS) is a U.S. furniture retailer that sells value-oriented furniture and home furnishings through its retail stores and e-commerce platform. The company serves residential customers seeking affordable products for a range of rooms and home settings.

Its merchandise includes living room, bedroom, dining room, home office and children’s furniture, as well as mattresses, rugs, lighting, décor and other home accessories. Bob’s also provides related services such as furniture delivery, assembly and financing options, subject to applicable terms.

Founded in 1991 by Robert “Bob” Kaufman, the company is headquartered in Manchester, Connecticut, and operates primarily across the United States, with a retail presence concentrated in the Northeast, Mid-Atlantic, Midwest and other regions.