Bob's Discount Furniture (NYSE:BOBS) Stock Price Down 7.5% - What's Next?

Key Points

• Bob’s Discount Furniture shares fell 7.5% to about $14.94 in mid-day trading, with volume substantially below its average. The stock’s market capitalization is approximately $1.90 billion, and its 200-day moving average is $14.72.
• Despite the decline, analysts remain generally positive: 11 rate the stock a Buy and four rate it a Hold, producing a “Moderate Buy” consensus and a $24 average price target.
• The company’s latest quarterly results met expectations, with earnings of $0.20 per share and revenue of $619.57 million. Institutional investors also initiated or expanded positions, including Alyeska Investment Group’s roughly $16.6 million stake.

Bob's Discount Furniture, Inc. (NYSE:BOBS - Get Free Report)'s share price traded down 7.5% during mid-day trading on Tuesday . The stock traded as low as $15.00 and last traded at $14.94. Approximately 223,936 shares traded hands during trading, a decline of 79% from the average daily volume of 1,083,974 shares. The stock had previously closed at $16.15.

Wall Street Analyst Weigh In

Several brokerages recently commented on BOBS. Weiss Ratings raised Bob's Discount Furniture from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, August 17th. Evercore reissued 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. Robert W. Baird set a $19.00 target price on Bob's Discount Furniture in a report on Friday, August 7th. Finally, Royal Bank Of Canada upped their price target on shares of Bob's Discount Furniture from $19.00 to $22.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $24.00.

Bob's Discount Furniture Stock Down 10.1%

The company's fifty day moving average price is $16.93 and its 200-day moving average price is $14.72. The stock has a market cap of $1.90 billion and a P/E ratio of 22.63. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.28 and a current ratio of 0.90.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Readystate Asset Management LP purchased a new position in shares of Bob's Discount Furniture in the second quarter valued at $237,000. Penn Capital Management Company LLC purchased a new position in Bob's Discount Furniture in the second quarter valued at about $423,000. Bank of New York Mellon Corp acquired a new stake in shares of Bob's Discount Furniture in the 2nd quarter valued at about $700,000. Finally, Alyeska Investment Group L.P. acquired a new position in Bob's Discount Furniture in the second quarter worth $16,599,000.

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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