Bob’s Discount Furniture (NYSE:BOBS) Shares Gap Up – Here’s Why

Bob’s Discount Furniture, Inc. (NYSE:BOBS)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $12.28, but opened at $13.38. Bob’s Discount Furniture shares last traded at $13.1660, with a volume of 19,693 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BOBS shares. The Goldman Sachs Group started coverage on Bob’s Discount Furniture in a research report on Monday, March 2nd. They issued a “neutral” rating and a $25.00 target price for the company. Bank of America started coverage on Bob’s Discount Furniture in a research report on Monday, March 2nd. They issued a “buy” rating and a $28.00 target price for the company. Royal Bank Of Canada dropped their target price on Bob’s Discount Furniture from $25.00 to $18.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. KeyCorp started coverage on Bob’s Discount Furniture in a research report on Monday, March 2nd. They issued an “overweight” rating and a $28.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their target price on Bob’s Discount Furniture from $29.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday, March 18th. Eleven equities 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.92.

Bob’s Discount Furniture Stock Up 1.3%

The stock’s 50-day moving average is $11.99.

Bob’s Discount Furniture (NYSE:BOBS) last announced its quarterly earnings data 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. During the same period in the prior year, the company earned $0.13 earnings per share. The firm’s quarterly revenue was up 8.5% on a year-over-year basis.

Insider Activity at Bob’s Discount Furniture

In other Bob’s Discount Furniture news, insider William G. Barton purchased 22,150 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was bought at an average price of $13.56 per share, with a total value of $300,354.00. Following the completion of the purchase, the insider directly owned 22,150 shares of the company’s stock, valued at $300,354. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 3.20% of the stock is currently owned by corporate 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.