Bob’s Discount Furniture (NYSE:BOBS) Stock Price Down 7.5% – Here’s Why

Bob’s Discount Furniture, Inc. (NYSE:BOBS) shares fell 7.5% on Tuesday . The company traded as low as $15.00 and last traded at $14.94. 223,936 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 1,083,974 shares. The stock had previously closed at $16.15.

Analyst Upgrades and Downgrades

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

Bob’s Discount Furniture Stock Up 1.5%

The firm’s 50-day moving average price is $16.90 and its 200 day moving average price is $14.63. The firm has a market capitalization of $1.94 billion and a price-to-earnings ratio of 23.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.90 and a quick ratio of 0.28.

Bob’s Discount Furniture (NYSE:BOBS) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. The company had revenue of $619.57 million for the quarter. Sell-side analysts expect that Bob’s Discount Furniture, Inc. will post 0.93 EPS for the current year.

Institutional Trading of Bob’s Discount Furniture

A number of large investors have recently made changes to their positions in BOBS. Alyeska Investment Group L.P. acquired a new position in Bob’s Discount Furniture in the 2nd quarter valued at about $16,599,000. HBK Investments L P purchased a new stake in shares of Bob’s Discount Furniture during the second quarter worth about $3,955,000. 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. Penn Capital Management Company LLC acquired a new position in shares of Bob’s Discount Furniture in the second quarter valued at approximately $423,000. Finally, Readystate Asset Management LP acquired a new stake in Bob’s Discount Furniture during the second quarter worth approximately $237,000.

Bob’s Discount Furniture Company Profile

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.