Bob's Discount Furniture (NYSE:BOBS) Coverage Initiated by Analysts at Craig Hallum

Key Points

• Craig Hallum initiated coverage on Bob's Discount Furniture with a "buy" rating and a $21.00 price target, implying roughly an 80.3% upside from the prior close.
• The consensus from analysts is a Moderate Buy (11 Buy ratings, 3 Holds) with an average price target of $24.67.
• Bob's recently beat expectations with Q earnings of $0.35 vs. $0.11 estimated and revenue of $648.8M (up 8.2% YoY), while two directors each sold 2,917,500 shares for about $46.5M apiece; insiders still own 3.20% of the stock.

Craig Hallum assumed coverage on shares of Bob's Discount Furniture (NYSE:BOBS - Get Free Report) in a report issued on Wednesday,Benzinga reports. The firm set a "buy" rating and a $21.00 price target on the stock. Craig Hallum's target price indicates a potential upside of 80.32% from the company's previous close.

A number of other research analysts have also weighed in on BOBS. Raymond James Financial raised shares of Bob's Discount Furniture to a "moderate buy" rating in a research note on Monday, March 2nd. JPMorgan Chase & Co. cut their price target on Bob's Discount Furniture from $29.00 to $26.00 and set an "overweight" rating for the company in a report on Wednesday, March 18th. Royal Bank Of Canada reduced their price objective on Bob's Discount Furniture from $26.00 to $25.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 18th. UBS Group cut Bob's Discount Furniture to a "buy" rating and set a $27.00 target price for the company. in a report on Monday, March 2nd. Finally, Bank of America began coverage on Bob's Discount Furniture in a research note on Monday, March 2nd. They issued a "buy" rating and a $28.00 target price for the company. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Bob's Discount Furniture currently has an average rating of "Moderate Buy" and a consensus target price of $24.67.

Bob's Discount Furniture Stock Performance

Shares of BOBS opened at $11.65 on Wednesday. Bob's Discount Furniture has a 52-week low of $10.20 and a 52-week high of $23.49.

Bob's Discount Furniture (NYSE:BOBS - Get Free Report) last posted its quarterly earnings results on Tuesday, March 17th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.24. The business had revenue of $648.83 million during the quarter, compared to analysts' expectations of $647.49 million. The business's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 earnings per share.

Insiders Place Their Bets

In other Bob's Discount Furniture news, Director Jennifer Lynn Davis sold 2,917,500 shares of the company's stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $15.94, for a total value of $46,504,950.00. Following the transaction, the director owned 95,370,751 shares of the company's stock, valued at $1,520,209,770.94. This represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John Thomas Kilgallon sold 2,917,500 shares of Bob's Discount Furniture stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $15.94, for a total transaction of $46,504,950.00. Following the sale, the director owned 95,370,751 shares of the company's stock, valued at approximately $1,520,209,770.94. This represents a 2.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.20% of the company's stock.

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.

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