Bob's Discount Furniture (NYSE:BOBS) Reaches New 52-Week Low - Here's What Happened

Key Points

• New 52-week low: BOBS hit a 52-week low intraday at $11.54 (last $11.8780), trading down about 3.2% with ~70,312 shares changing hands.
• Analyst sentiment: Ten analysts rate the stock Buy and three Hold, giving a consensus "Moderate Buy" and a $25.00 average price target (notable recent coverage: BofA buy $28, Evercore outperform $25).
• Large insider sales: Directors John Kilgallon and Jennifer Davis each sold 2,917,500 shares on Feb. 13 at $15.94 (~$46.5M each); insiders collectively own about 3.20% of the company.

Bob's Discount Furniture, Inc. (NYSE:BOBS - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $11.54 and last traded at $11.8780, with a volume of 70312 shares changing hands. The stock had previously closed at $11.95.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BOBS. Bank of America started coverage on shares of Bob's Discount Furniture in a research report on Monday, March 2nd. They issued a "buy" rating and a $28.00 price objective on the stock. Raymond James Financial raised shares of Bob's Discount Furniture to a "moderate buy" rating in a report on Monday, March 2nd. Evercore initiated coverage on shares of Bob's Discount Furniture in a report on Monday, March 2nd. They issued an "outperform" rating and a $25.00 price target on the stock. DA Davidson cut their price objective on shares of Bob's Discount Furniture from $26.00 to $24.00 and set a "buy" rating for the company in a research report on Wednesday, March 18th. Finally, Wall Street Zen raised Bob's Discount Furniture to a "hold" rating in a report on Monday, February 16th. Ten equities 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 stock has an average rating of "Moderate Buy" and a consensus target price of $25.00.

Bob's Discount Furniture Trading Down 3.2%

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

Insiders Place Their Bets

In related news, Director John Thomas Kilgallon sold 2,917,500 shares of the stock in a transaction dated Friday, February 13th. The stock was 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jennifer Lynn Davis sold 2,917,500 shares of the firm's 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 transaction, 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 position. The SEC filing for this sale provides additional information. 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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