Bob's Discount Furniture, Inc.'s Lock-Up Period Will End on August 4th (NYSE:BOBS)

Key Points

• Bob’s Discount Furniture’s lock-up period expires August 4, allowing insiders and major shareholders to sell shares. The company issued 19.45 million IPO shares at $17 each, representing a $330.65 million offering.
• Analyst sentiment remains broadly positive, with 11 Buy ratings, three Holds and one Sell. MarketBeat reports a consensus “Moderate Buy” rating and a $22.92 price target.
• BOBS recently traded at $16, with a $2.09 billion market capitalization, while quarterly EPS of $0.09 missed the $0.21 consensus estimate despite revenue rising 8.5% year over year to $578.1 million.

Bob's Discount Furniture's (NYSE:BOBS - Get Free Report) lock-up period will expire on Tuesday, August 4th. Bob's Discount Furniture had issued 19,450,000 shares in its IPO on February 5th. The total size of the offering was $330,650,000 based on an initial share price of $17.00. After the end of the company's lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Analyst Ratings Changes

Several research firms have recently weighed in on BOBS. Weiss Ratings assumed coverage on Bob's Discount Furniture in a report on Thursday, May 14th. They issued a "sell (d)" rating for the company. Royal Bank Of Canada reduced their price objective on Bob's Discount Furniture from $25.00 to $18.00 and set an "outperform" rating for the company in a research note on Monday, May 4th. Robert W. Baird set a $14.00 target price on shares of Bob's Discount Furniture in a research report on Friday, May 8th. Craig Hallum assumed coverage on shares of Bob's Discount Furniture in a report on Wednesday, April 1st. They issued a "buy" rating and a $21.00 target price on the stock. Finally, Evercore reiterated an "outperform" rating and issued a $16.00 price target on shares of Bob's Discount Furniture in a research report on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $22.92.

Bob's Discount Furniture Stock Performance

NYSE BOBS opened at $16.00 on Tuesday. The stock has a market capitalization of $2.09 billion and a price-to-earnings ratio of 36.37. Bob's Discount Furniture has a 52-week low of $9.73 and a 52-week high of $23.49. The business's 50-day moving average is $14.25.

Bob's Discount Furniture (NYSE:BOBS - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.09 EPS 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 quarter in the prior year, the firm posted $0.13 earnings per share. The company's revenue for the quarter was up 8.5% compared to the same quarter last year.

Insider Activity at Bob's Discount Furniture

In related news, insider William G. Barton purchased 22,150 shares of the business's stock in a transaction dated Friday, May 8th. The stock was acquired at an average price of $13.56 per share, for a total transaction 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. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.20% of the stock is owned by company insiders.

About Bob's Discount Furniture

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.

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