Bob's Discount Furniture (NYSE:BOBS) Reaches New 12-Month Low on Analyst Downgrade

Key Points

• Shares hit a new 52-week low of $9.97 (last $10.025) after Royal Bank of Canada cut its price target from $25 to $18 while maintaining an outperform rating.
• Directors Jennifer Lynn Davis and John Thomas Kilgallon each sold 2,917,500 shares on Feb. 13 at $15.94—transactions of about $46.5M apiece—bringing insider ownership to roughly 3.20%.
• Bob's beat quarterly EPS estimates ($0.35 vs. $0.11) and reported revenue of $648.8M (up 8.2% YoY), while analysts collectively rate the stock a Moderate Buy with an average target of $24.08.

Bob's Discount Furniture, Inc. (NYSE:BOBS - Get Free Report) shares hit a new 52-week low on Tuesday after Royal Bank Of Canada lowered their price target on the stock from $25.00 to $18.00. Royal Bank Of Canada currently has an outperform rating on the stock. Bob's Discount Furniture traded as low as $9.97 and last traded at $10.0250, with a volume of 1680471 shares traded. The stock had previously closed at $11.07.

A number of other equities research analysts have also recently commented on BOBS. Robert W. Baird decreased their target price on shares of 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. Bank of America initiated coverage on shares of 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. Zacks Research raised shares of Bob's Discount Furniture to a "hold" rating in a research report on Tuesday, March 3rd. Wall Street Zen raised shares of Bob's Discount Furniture to a "hold" rating in a research report on Monday, February 16th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Bob's Discount Furniture from $29.00 to $26.00 and set an "overweight" rating for the company in a research report on Wednesday, March 18th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Bob's Discount Furniture presently has an average rating of "Moderate Buy" and an average target price of $24.08.

Insider Buying and Selling

In related news, Director Jennifer Lynn Davis sold 2,917,500 shares of the stock in a transaction that occurred on 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 completion of the sale, 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 legal filing with the SEC, which is available at this link. Also, Director John Thomas Kilgallon sold 2,917,500 shares of the stock in a transaction that occurred on 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 directly owned 95,370,751 shares of the company's stock, valued at $1,520,209,770.94. The trade was a 2.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.20% of the company's stock.

Bob's Discount Furniture Stock Performance

The stock's 50 day moving average is $14.26.

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

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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