William Blair Investment Management LLC Purchases 2,392,830 Shares of Bob’s Discount Furniture, Inc. $BOBS

William Blair Investment Management LLC purchased a new position in shares of Bob’s Discount Furniture, Inc. (NYSE:BOBS) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 2,392,830 shares of the company’s stock, valued at approximately $33,165,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Alyeska Investment Group L.P. purchased a new stake in shares of Bob’s Discount Furniture in the second quarter valued at about $16,599,000. HBK Investments L P acquired a new stake in Bob’s Discount Furniture during the second quarter worth about $3,955,000. State Street Corp purchased a new position in Bob’s Discount Furniture during the second quarter worth about $4,683,000. Bank of New York Mellon Corp purchased a new position in Bob’s Discount Furniture during the second quarter worth about $700,000. Finally, Readystate Asset Management LP acquired a new position in Bob’s Discount Furniture in the 2nd quarter valued at about $237,000.

Bob’s Discount Furniture Trading Down 0.6%

BOBS traded down $0.12 on Friday, hitting $20.52. The company had a trading volume of 707,929 shares, compared to its average volume of 1,165,987. The firm has a market cap of $2.68 billion and a P/E ratio of 18.49. Bob’s Discount Furniture, Inc. has a 1 year low of $9.73 and a 1 year high of $23.49. The company’s fifty day moving average price is $15.92 and its 200 day moving average price is $15.21. The company has a current ratio of 0.95, a quick ratio of 0.28 and a debt-to-equity ratio of 0.12.

Bob’s Discount Furniture (NYSE:BOBS) last announced its earnings results on Thursday, November 5th. The company reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28. The company had revenue of $680.44 million during the quarter. Bob’s Discount Furniture had a net margin of 5.66% and a return on equity of 26.85%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business earned $0.29 EPS. As a group, equities analysts expect that Bob’s Discount Furniture, Inc. will post 0.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

BOBS has been the subject of several analyst reports. Weiss Ratings raised shares of Bob’s Discount Furniture from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. Robert W. Baird set a $19.00 price target on shares of Bob’s Discount Furniture in a research report on Friday, August 7th. Royal Bank Of Canada decreased their price objective on Bob’s Discount Furniture from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Friday, November 6th. Evercore set a $18.00 price objective on Bob’s Discount Furniture in a report on Tuesday, October 13th. Finally, JPMorgan Chase & Co. increased their price objective on Bob’s Discount Furniture from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, November 6th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.67.

Bob’s Discount Furniture Profile

Bob’s Discount Furniture is a U.S. home furnishings retailer offering value-priced furniture, mattresses and related products. Its merchandise includes items for living rooms, bedrooms, dining rooms and home offices, along with rugs, lighting and home décor. The company sells through retail stores and its e-commerce platform, serving customers across the United States. Its stores provide an in-person way to browse furniture and mattresses, while the online channel allows customers to shop its assortment remotely.