State Street Corp Buys 295,996 Shares of Bob's Discount Furniture, Inc. $BOBS

Key Points

• State Street Corp acquired 295,996 shares of Bob’s Discount Furniture during the second quarter, valued at approximately $4.68 million and representing about 0.23% of the company.
• Several other institutional investors also initiated positions, including Alyeska Investment Group with an investment valued at roughly $16.6 million and HBK Investments with nearly $4 million.
• Bob’s reported quarterly EPS of $0.20 on revenue of $619.57 million, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $24, well above the stock’s cited $13.74 price.

State Street Corp purchased a new stake in Bob's Discount Furniture, Inc. (NYSE:BOBS - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 295,996 shares of the company's stock, valued at approximately $4,683,000. State Street Corp owned about 0.23% of Bob's Discount Furniture as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Readystate Asset Management LP acquired a new stake in Bob's Discount Furniture during the 2nd quarter worth approximately $237,000. Penn Capital Management Company LLC acquired a new position in Bob's Discount Furniture in the 2nd quarter valued at approximately $423,000. Bank of New York Mellon Corp bought a new position in shares of Bob's Discount Furniture during the second quarter valued at $700,000. HBK Investments L P acquired a new stake in Bob's Discount Furniture in the second quarter valued at $3,955,000. Finally, Alyeska Investment Group L.P. bought a new position in Bob's Discount Furniture during the 2nd quarter worth $16,599,000.

Bob's Discount Furniture Price Performance

Bob's Discount Furniture stock opened at $13.74 on Friday. The stock has a market cap of $1.80 billion and a price-to-earnings ratio of 21.47. The company has a quick ratio of 0.28, a current ratio of 0.90 and a debt-to-equity ratio of 0.14. The business has a 50-day simple moving average of $16.68 and a 200 day simple moving average of $14.41. Bob's Discount Furniture, Inc. has a 52 week low of $9.73 and a 52 week high of $23.49.

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

Analysts Set New Price Targets

BOBS has been the subject of several analyst reports. Robert W. Baird set a $19.00 price target on shares of Bob's Discount Furniture in a report on Friday, August 7th. Evercore reaffirmed an "outperform" rating and issued a $20.00 price objective on shares of Bob's Discount Furniture in a research note on Friday, August 7th. Royal Bank Of Canada increased their price target on Bob's Discount Furniture from $19.00 to $22.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Finally, Weiss Ratings raised Bob's Discount Furniture from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, August 17th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $24.00.

Bob's Discount Furniture Company Profile

Bob's Discount Furniture NYSE: BOBS is a furniture retailer that sells a broad selection of home furnishings through its retail stores and e-commerce platform. Its product offerings include living room, bedroom, dining room and home office furniture, as well as mattresses, rugs, lighting, home accessories and other household products.

The company was founded in 1991 by Bob Kaufman in Newington, Connecticut, with a focus on offering furniture at value-oriented prices. Bob's has since expanded beyond its New England roots and serves customers primarily across the eastern United States through a network of retail locations, delivery operations and online shopping services.

Bob's Discount Furniture also provides services such as furniture delivery, assembly and mattress-related support.

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