Bob's Discount Furniture (NYSE:BOBS) Shares Up 8.3% - Still a Buy?

Key Points

• Bob’s Discount Furniture shares jumped 8.3% to roughly $17.95, although trading volume was 89% below the average session volume.
• Analyst sentiment is broadly positive: 11 analysts rate the stock a Buy and four rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $23.83.
• The company met quarterly earnings expectations with $0.20 in EPS on $619.57 million in revenue; its stock trades at a P/E ratio of 28.05, while several institutional investors recently initiated positions.

Bob's Discount Furniture, Inc. (NYSE:BOBS - Get Free Report) shot up 8.3% during trading on Monday. The company traded as high as $17.82 and last traded at $17.95. 115,233 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 1,040,490 shares. The stock had previously closed at $16.57.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BOBS shares. Weiss Ratings upgraded Bob's Discount Furniture from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, August 17th. Robert W. Baird set a $19.00 target price on shares of Bob's Discount Furniture in a research report on Friday, August 7th. Evercore set a $18.00 price target on Bob's Discount Furniture in a research report on Tuesday, October 13th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Bob's Discount Furniture in a research note on Monday, October 26th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $23.83.

Bob's Discount Furniture Price 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 stock's fifty day simple moving average is $15.41 and its 200-day simple moving average is $14.96. The company has a market capitalization of $2.35 billion and a P/E ratio of 28.05.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. State of Alaska Department of Revenue acquired a new stake in shares of Bob's Discount Furniture in the third quarter worth $93,000. Readystate Asset Management LP acquired a new stake in Bob's Discount Furniture in the 2nd quarter worth $237,000. Penn Capital Management Company LLC acquired a new stake in Bob's Discount Furniture in the 2nd quarter worth $423,000. Bank of New York Mellon Corp bought a new position in shares of Bob's Discount Furniture during the 2nd quarter worth about $700,000. Finally, HBK Investments L P bought a new position in shares of Bob's Discount Furniture during the 2nd quarter worth about $3,955,000.

Bob's Discount Furniture Company Profile

Bob's Discount Furniture is a U.S. furniture retailer that sells a broad selection of furniture and home furnishings at value-oriented prices. Its merchandise includes living room, bedroom, dining room and home office furniture, as well as mattresses, rugs, lighting, décor and other household products.

The company was founded in 1991 by Robert “Bob” Kaufman in Newington, Connecticut. Bob's operates an omnichannel retail model that combines a network of showrooms with online shopping and related delivery and service capabilities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.