Bob's Discount Furniture (NYSE:BOBS) Stock Price Down 4.3% - Here's Why

Key Points

• Bob’s Discount Furniture shares fell 4.3% to $17.28 in Friday trading, with volume down 77% from the average session.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and a $24.00 price target, despite UBS lowering its target to $24 from $27.
• The company’s latest quarterly results matched expectations at $0.20 EPS on $619.57 million in revenue, while several institutional investors—including Alyeska Investment Group—recently initiated positions.

Bob's Discount Furniture, Inc. (NYSE:BOBS - Get Free Report)'s stock price was down 4.3% during trading on Friday . The company traded as low as $17.20 and last traded at $17.28. 262,453 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 1,141,868 shares. The stock had previously closed at $18.05.

Analysts Set New Price Targets

BOBS has been the topic of a number of research reports. UBS Group dropped their price target on Bob's Discount Furniture from $27.00 to $24.00 and set a "buy" rating on the stock in a research note on Tuesday, May 5th. Evercore reissued an "outperform" rating and issued a $20.00 target price on shares of Bob's Discount Furniture in a research report on Friday, August 7th. Royal Bank Of Canada boosted their price objective on shares of Bob's Discount Furniture from $19.00 to $22.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. Robert W. Baird set a $19.00 target price on shares of Bob's Discount Furniture in a report on Friday, August 7th. Finally, Weiss Ratings raised Bob's Discount Furniture from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

Bob's Discount Furniture Price Performance

The stock's 50-day simple moving average is $16.22. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.28 and a current ratio of 0.90. The firm has a market cap of $2.28 billion and a price-to-earnings ratio of 27.27.

Bob's Discount Furniture (NYSE:BOBS - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.20. The company had revenue of $619.57 million during the quarter. Analysts anticipate that Bob's Discount Furniture, Inc. will post 0.93 EPS for the current fiscal year.

Institutional Trading of Bob's Discount Furniture

Hedge funds and other institutional investors have recently bought and sold shares of the business. Penn Capital Management Company LLC purchased a new position in Bob's Discount Furniture in the 2nd quarter worth about $423,000. Bank of New York Mellon Corp purchased a new position in Bob's Discount Furniture in the second quarter valued at about $700,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Bob's Discount Furniture in the 2nd quarter worth approximately $16,599,000.

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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