Bob’s Discount Furniture (NYSE:BOBS) Stock Price Up 7.8% – Here’s What Happened

Bob’s Discount Furniture, Inc. (NYSE:BOBS) shares were up 7.8% during trading on Thursday. The company traded as high as $14.42 and last traded at $14.5950. Approximately 19,257 shares were traded during trading, a decline of 98% from the average daily volume of 1,067,249 shares. The stock had previously closed at $13.54.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Robert W. Baird set a $19.00 price target on Bob’s Discount Furniture in a report on Friday, August 7th. Royal Bank Of Canada upped their price objective on Bob’s Discount Furniture from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Weiss Ratings raised Bob’s Discount Furniture from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 17th. Finally, Evercore set a $18.00 target price on Bob’s Discount Furniture in a research note on Tuesday. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.83.

Bob’s Discount Furniture Stock Performance

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 company has a 50 day simple moving average of $15.92 and a 200-day simple moving average of $14.42. The stock has a market capitalization of $1.94 billion and a P/E ratio of 23.19.

Bob’s Discount Furniture (NYSE:BOBS) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. The firm had revenue of $619.57 million for the quarter. On average, equities analysts forecast that Bob’s Discount Furniture, Inc. will post 0.93 EPS for the current year.

Hedge Funds Weigh In On Bob’s Discount Furniture

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BOBS. State of Alaska Department of Revenue bought a new position in Bob’s Discount Furniture in the 3rd quarter worth approximately $93,000. State Street Corp bought a new position in Bob’s Discount Furniture in the 2nd quarter worth about $4,683,000. HBK Investments L P purchased a new position in Bob’s Discount Furniture during the 2nd quarter valued at about $3,955,000. Readystate Asset Management LP purchased a new position in Bob’s Discount Furniture during the 2nd quarter valued at about $237,000. Finally, Alyeska Investment Group L.P. purchased a new position in Bob’s Discount Furniture during the 2nd quarter valued at about $16,599,000.

About Bob’s Discount Furniture

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.