Bob’s Discount Furniture (NYSE:BOBS) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Bob’s Discount Furniture (NYSE:BOBS) had its price objective raised by equities researchers at JPMorgan Chase & Co. from $22.00 to $25.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 29.29% from the stock’s previous close.

Several other research analysts also recently commented on the company. Evercore set a $18.00 target price on Bob’s Discount Furniture in a research note on Tuesday, October 13th. Weiss Ratings upgraded 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 Bob’s Discount Furniture in a research note on Friday, August 7th. Finally, Royal Bank Of Canada cut their price target on Bob’s Discount Furniture from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Friday. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.67.

Bob’s Discount Furniture Stock Down 0.4%

Shares of BOBS stock opened at $19.34 on Friday. Bob’s Discount Furniture has a 52-week low of $9.73 and a 52-week high of $23.49. The stock has a market cap of $2.53 billion and a price-to-earnings ratio of 17.42. The firm’s 50-day moving average is $15.50 and its 200-day moving average is $15.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.28 and a current ratio of 0.90.

Bob’s Discount Furniture (NYSE:BOBS) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.28 EPS for the quarter, hitting analysts’ consensus estimates of $0.28. The business had revenue of $680.44 million during the quarter. Bob’s Discount Furniture had a return on equity of 30.04% and a net margin of 5.66%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 EPS. Sell-side analysts predict that Bob’s Discount Furniture will post 0.93 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue bought a new position in Bob’s Discount Furniture in the 3rd quarter valued at about $93,000. Readystate Asset Management LP bought a new stake in shares of Bob’s Discount Furniture during the second quarter worth approximately $237,000. Penn Capital Management Company LLC bought a new stake in shares of Bob’s Discount Furniture during the second quarter worth approximately $423,000. Bank of New York Mellon Corp bought a new stake in shares of Bob’s Discount Furniture during the second quarter worth approximately $700,000. Finally, Russell Investments Group Ltd. grew its position in shares of Bob’s Discount Furniture by 4,192.1% in the third quarter. Russell Investments Group Ltd. now owns 67,343 shares of the company’s stock valued at $933,000 after purchasing an additional 65,774 shares during the last quarter.

About Bob’s Discount Furniture

Bob’s Discount Furniture is a U.S. furniture retailer that sells a broad selection of furniture and home furnishings at value-oriented prices. Its merchandise includes living room, bedroom, dining room and home office furniture, as well as mattresses, rugs, lighting, décor and other household products.

The company was founded in 1991 by Robert “Bob” Kaufman in Newington, Connecticut. Bob’s operates an omnichannel retail model that combines a network of showrooms with online shopping and related delivery and service capabilities.