Bob's Discount Furniture (NYSE:BOBS) Price Target Cut to $18.00 by Analysts at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut its price target on Bob's Discount Furniture from $25.00 to $18.00 but kept an "outperform" rating, a target that implies roughly a 72% upside from the stock's current price.
• BOBS is trading around $10.44 (down 5.7%), near its 52‑week low and well below the $24.08 average analyst price target; the consensus from 14 analysts is a "Moderate Buy" (11 Buys, 3 Holds).
• The company beat quarterly estimates (EPS $0.35 vs. $0.11 expected; revenue $648.8M vs. $647.5M, +8.2% YoY), but two directors each sold about 2.92M shares at $15.94 (~$46.5M each); insiders now own roughly 3.2% of the stock.

Bob's Discount Furniture (NYSE:BOBS - Get Free Report) had its price target dropped by analysts at Royal Bank Of Canada from $25.00 to $18.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would suggest a potential upside of 72.35% from the stock's current price.

Several other equities research analysts have also issued reports on BOBS. Robert W. Baird decreased their target price on Bob's Discount Furniture from $22.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, March 18th. Morgan Stanley decreased their target price on Bob's Discount Furniture from $25.50 to $23.00 and set an "overweight" rating for the company in a research report on Wednesday, March 18th. Evercore began coverage on Bob's Discount Furniture in a research report on Monday, March 2nd. They set an "outperform" rating and a $25.00 target price for the company. Bank of America began coverage on Bob's Discount Furniture in a research report on Monday, March 2nd. They set a "buy" rating and a $28.00 target price for the company. Finally, Wall Street Zen raised Bob's Discount Furniture to a "hold" rating in a research report on Monday, February 16th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $24.08.

Bob's Discount Furniture Trading Down 5.7%

NYSE BOBS traded down $0.63 on Monday, reaching $10.44. The company had a trading volume of 489,523 shares, compared to its average volume of 1,176,996. The business has a fifty day moving average price of $14.26. Bob's Discount Furniture has a 52-week low of $10.18 and a 52-week high of $23.49.

Bob's Discount Furniture (NYSE:BOBS - Get Free Report) last released its quarterly earnings results on Wednesday, March 18th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.24. The company had revenue of $648.83 million during the quarter, compared to analysts' expectations of $647.49 million. The company's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 earnings per share.

Insider Activity

In related news, Director Jennifer Lynn Davis sold 2,917,500 shares of Bob's Discount Furniture stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $15.94, for a total value of $46,504,950.00. Following the completion of the sale, the director owned 95,370,751 shares of the company's stock, valued at approximately $1,520,209,770.94. This trade represents a 2.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Thomas Kilgallon sold 2,917,500 shares of Bob's Discount Furniture stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $15.94, for a total value of $46,504,950.00. Following the completion of the sale, the director directly owned 95,370,751 shares of the company's stock, valued at approximately $1,520,209,770.94. This trade represents a 2.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.20% of the company's stock.

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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