Bob's Discount Furniture (NYSE:BOBS) Trading Down 4% - Time to Sell?

Key Points

• Bob’s Discount Furniture shares fell 4% to about $14.26 in midday trading, with volume dramatically below the stock’s average daily level.
• Analyst sentiment remains favorable: 11 analysts rate the stock Buy and four rate it Hold, producing a “Moderate Buy” consensus and an average price target of $24.00.
• The company met quarterly earnings expectations with $0.20 in EPS on $619.57 million in revenue, while several institutional investors—including Alyeska Investment Group and HBK Investments—recently initiated positions.

Bob's Discount Furniture, Inc. (NYSE:BOBS - Get Free Report) shares traded down 4% during mid-day trading on Monday . The company traded as low as $14.22 and last traded at $14.26. 55,198 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 1,095,068 shares. The stock had previously closed at $14.86.

Wall Street Analysts Forecast Growth

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

Bob's Discount Furniture Price Performance

The firm has a market cap of $1.88 billion and a price-to-earnings ratio of 22.50. 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 company's 50-day moving average price is $16.87 and its 200-day moving average price is $14.54.

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, meeting the consensus estimate of $0.20. The business had revenue of $619.57 million during the quarter. On average, equities research analysts forecast that Bob's Discount Furniture, Inc. will post 0.93 EPS for the current year.

Institutional Investors Weigh In On Bob's Discount Furniture

Institutional investors and hedge funds have recently made changes to their positions in the business. HBK Investments L P purchased a new stake in shares of Bob's Discount Furniture in the second quarter valued at about $3,955,000. Readystate Asset Management LP purchased a new stake in Bob's Discount Furniture in the 2nd quarter valued at approximately $237,000. Alyeska Investment Group L.P. acquired a new position in Bob's Discount Furniture during the 2nd quarter worth approximately $16,599,000. Penn Capital Management Company LLC purchased a new position in shares of Bob's Discount Furniture during the 2nd quarter worth approximately $423,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Bob's Discount Furniture during the 2nd quarter worth approximately $700,000.

About Bob's Discount Furniture

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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