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

Key Points

• Bob’s Discount Furniture shares fell sharply, opening at $13.50 versus a prior close of $14.32 and later trading at $13.12.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $23.83; recent targets range from $18 to $22.
• The company reported quarterly earnings of $0.20 per share, matching estimates, on revenue of $619.57 million. Its balance sheet includes a low debt-to-equity ratio of 0.14, while several hedge funds recently initiated positions.

Bob's Discount Furniture, Inc. (NYSE:BOBS - Get Free Report)'s share price gapped down prior to trading on Wednesday. The stock had previously closed at $14.32, but opened at $13.50. Bob's Discount Furniture shares last traded at $13.12, with a volume of 81,667 shares.

Analyst Ratings Changes

A number of research firms have recently weighed in on BOBS. Weiss Ratings upgraded Bob's Discount Furniture from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, August 17th. Evercore set a $18.00 target price on Bob's Discount Furniture in a research report on Tuesday. Robert W. Baird set a $19.00 price target on Bob's Discount Furniture in a report on Friday, August 7th. Finally, Royal Bank Of Canada increased their price target on 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. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $23.83.

Bob's Discount Furniture Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 0.90 and a quick ratio of 0.28. The company's fifty day moving average price is $16.16 and its 200 day moving average price is $14.37. The company has a market cap of $1.73 billion and a PE ratio of 20.70.

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

Hedge Funds Weigh In On Bob's Discount Furniture

Several hedge funds have recently modified their holdings of BOBS. Alyeska Investment Group L.P. bought a new position in Bob's Discount Furniture in the 2nd quarter valued at $16,599,000. State Street Corp purchased a new stake in shares of Bob's Discount Furniture during the 2nd quarter valued at $4,683,000. HBK Investments L P bought a new stake in shares of Bob's Discount Furniture during the 2nd quarter worth $3,955,000. Bank of New York Mellon Corp bought a new stake in shares of Bob's Discount Furniture during the 2nd quarter worth $700,000. Finally, Penn Capital Management Company LLC bought a new stake in shares of Bob's Discount Furniture during the 2nd quarter worth $423,000.

About Bob's Discount Furniture

Bob's Discount Furniture NYSE: BOBS is a U.S. furniture retailer that sells value-oriented furniture and home furnishings through its retail stores and e-commerce platform. The company serves residential customers seeking affordable products for a range of rooms and home settings.

Its merchandise includes living room, bedroom, dining room, home office and children's furniture, as well as mattresses, rugs, lighting, décor and other home accessories. Bob's also provides related services such as furniture delivery, assembly and financing options, subject to applicable terms.

Founded in 1991 by Robert “Bob” Kaufman, the company is headquartered in Manchester, Connecticut, and operates primarily across the United States, with a retail presence concentrated in the Northeast, Mid-Atlantic, Midwest and other regions.

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