Bob's Discount Furniture (NYSE:BOBS) Shares Down 6% - What's Next?

Key Points

• Bob's Discount Furniture shares dropped about 6% to roughly $14.80 on Tuesday, with volume of ~301,672 shares—about 72% below the stock's average daily trading volume.
• Wall Street coverage is largely positive: ten analysts rate the stock a Buy versus three Holds, giving an average "Moderate Buy" view and an average price target of $26.32.
• Two company directors each sold 2,917,500 shares at $15.94 (about $46.5 million apiece), with insider ownership totaling roughly 3.2% of the company.

Bob's Discount Furniture, Inc. (NYSE:BOBS - Get Free Report) dropped 6% on Tuesday . The company traded as low as $14.57 and last traded at $14.7990. Approximately 301,672 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 1,061,451 shares. The stock had previously closed at $15.74.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group began coverage on Bob's Discount Furniture in a research report on Monday, March 2nd. They issued a "neutral" rating and a $25.00 target price on the stock. Royal Bank Of Canada started coverage on Bob's Discount Furniture in a research note on Monday, March 2nd. They set an "outperform" rating and a $26.00 target price for the company. Raymond James Financial raised Bob's Discount Furniture to a "moderate buy" rating in a report on Monday, March 2nd. Bank of America initiated coverage on Bob's Discount Furniture in a report on Monday, March 2nd. They issued a "buy" rating and a $28.00 target price for the company. Finally, Loop Capital started coverage on shares of Bob's Discount Furniture in a research note on Monday, March 2nd. They set a "buy" rating and a $28.00 price target on the stock. Ten equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Bob's Discount Furniture has an average rating of "Moderate Buy" and an average target price of $26.32.

Bob's Discount Furniture Stock Down 5.4%

Insiders Place Their Bets

In related news, 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 transaction of $46,504,950.00. Following the completion of the sale, the director owned 95,370,751 shares in the company, valued at approximately $1,520,209,770.94. This trade represents a 2.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $46,504,950.00. Following the completion of the transaction, the director owned 95,370,751 shares in the company, valued at approximately $1,520,209,770.94. This trade represents a 2.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.20% of the stock is owned by company insiders.

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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