Bob's Discount Furniture (NYSE:BOBS) Stock Price Up 10.1% - Here's What Happened

Key Points

• Stock up 10.1%: Bob's Discount Furniture jumped 10.1% mid-day to $13.10 (intraday high $13.19) on ~945,961 shares traded, about 23% below its average daily volume.
• Quarterly beat: The company reported $0.35 EPS versus a $0.11 consensus and revenue of $648.83M (up 8.2% year-over-year), slightly above estimates.
• Analyst sentiment and insider selling: Analysts carry a "Moderate Buy" consensus with a $24.67 target despite recent price-target trims, while directors sold large blocks in February and insiders now own 3.20% of the stock.

Bob's Discount Furniture, Inc. (NYSE:BOBS - Get Free Report)'s stock price was up 10.1% during mid-day trading on Friday . The stock traded as high as $13.19 and last traded at $13.1020. Approximately 945,961 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 1,234,678 shares. The stock had previously closed at $11.90.

Analyst Ratings Changes

Several research firms have issued reports on BOBS. Morgan Stanley dropped their price objective on Bob's Discount Furniture from $25.50 to $23.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 18th. Evercore assumed coverage on Bob's Discount Furniture in a report on Monday, March 2nd. They set an "outperform" rating and a $25.00 target price on the stock. The Goldman Sachs Group initiated coverage on Bob's Discount Furniture in a report on Monday, March 2nd. They set a "neutral" rating and a $25.00 price target for the company. Royal Bank Of Canada reduced their price objective on shares of Bob's Discount Furniture from $26.00 to $25.00 and set an "outperform" rating for the company in a research report on Wednesday, March 18th. Finally, DA Davidson decreased their price objective on shares of Bob's Discount Furniture from $26.00 to $24.00 and set a "buy" rating on the stock in a report on Wednesday, March 18th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $24.67.

Bob's Discount Furniture Stock Up 9.2%

The business has a fifty day moving average of $15.38.

Bob's Discount Furniture (NYSE:BOBS - Get Free Report) last issued its quarterly earnings data on Tuesday, March 17th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.24. The firm had revenue of $648.83 million during the quarter, compared to analyst estimates of $647.49 million. During the same period in the prior year, the company earned $0.36 earnings per share. The business's quarterly revenue was up 8.2% compared to the same quarter last year.

Insider Transactions at Bob's Discount Furniture

In other Bob's Discount Furniture news, Director Jennifer Lynn Davis sold 2,917,500 shares of Bob's Discount Furniture stock in a transaction dated Friday, February 13th. The shares were 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 in the company, valued at $1,520,209,770.94. The trade was a 2.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Thomas Kilgallon sold 2,917,500 shares of the business'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 sale, the director directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. 3.20% of the stock is currently 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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