Robert W. Baird Has Lowered Expectations for Bob's Discount Furniture (NYSE:BOBS) Stock Price

Key Points

• Robert W. Baird cut its target price on Bob's Discount Furniture from $22 to $16 and maintains a neutral rating, implying roughly a 9.3% upside from the current price.
• Several major firms (DA Davidson, Morgan Stanley, JPMorgan, Bank of America) initiated coverage with buy/overweight views and higher targets, leaving the consensus rating at "Moderate Buy" with an average target of $25.77.
• Insider selling: Two directors each sold 2,917,500 shares at $15.94 (about $46.5M each), and corporate insiders now own roughly 3.20% of the company.

Bob's Discount Furniture (NYSE:BOBS - Get Free Report) had its target price lowered by equities research analysts at Robert W. Baird from $22.00 to $16.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Robert W. Baird's target price would indicate a potential upside of 9.30% from the company's current price.

Several other brokerages have also issued reports on BOBS. DA Davidson assumed coverage on Bob's Discount Furniture in a report on Monday, February 23rd. They issued a "buy" rating and a $26.00 price target on the stock. Morgan Stanley began coverage on shares of Bob's Discount Furniture in a report on Monday, March 2nd. They issued an "overweight" rating and a $25.50 target price for the company. JPMorgan Chase & Co. initiated coverage on shares of Bob's Discount Furniture in a report on Monday, March 2nd. They issued an "overweight" rating and a $29.00 price target on the stock. Bank of America assumed coverage on Bob's Discount Furniture in a research note on Monday, March 2nd. They set a "buy" rating and a $28.00 price objective on the stock. Finally, Wall Street Zen raised shares of Bob's Discount Furniture to a "hold" rating in a research note on Monday, February 16th. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $25.77.

Bob's Discount Furniture Trading Down 7.0%

Shares of BOBS opened at $14.64 on Wednesday. Bob's Discount Furniture has a 52-week low of $14.35 and a 52-week high of $23.49.

Bob's Discount Furniture (NYSE:BOBS - Get Free Report) last released its quarterly earnings results on Tuesday, March 17th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.24. The firm had revenue of $648.83 million for the quarter, compared to the consensus estimate of $647.49 million. During the same quarter last year, the firm posted $0.36 earnings per share. The business's revenue for the quarter was up 8.2% on a year-over-year basis.

Insider Buying and Selling

In other news, Director Jennifer Lynn Davis sold 2,917,500 shares of the company's stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $15.94, for a total value of $46,504,950.00. Following the sale, the director directly owned 95,370,751 shares of the company's stock, valued at $1,520,209,770.94. This represents a 2.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Thomas Kilgallon sold 2,917,500 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $15.94, for a total transaction of $46,504,950.00. Following the sale, the director owned 95,370,751 shares in the company, valued at approximately $1,520,209,770.94. The trade was a 2.97% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.20% of the company's stock.

Bob's Discount Furniture Company Profile

Bob’s Discount Furniture NYSE: BOBS is a U.S.-based specialty retailer of residential furniture and home furnishings. The company operates a network of company-owned showrooms alongside an e-commerce platform to sell living room, bedroom and dining furniture, mattresses, home office pieces, and decorative accessories. Its merchandising and marketing emphasize value-oriented pricing and broad selection across mainstream categories.

In addition to merchandise sales, Bob’s Discount Furniture offers services commonly associated with full-service furniture retail, including delivery, white-glove setup in some markets, and consumer financing options.

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