Bob’s Discount Furniture (NYSE:BOBS) Hits New 12-Month Low – Should You Sell?

Bob’s Discount Furniture, Inc. (NYSE:BOBS)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $16.47 and last traded at $16.4660, with a volume of 1138271 shares changing hands. The stock had previously closed at $17.01.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. began coverage on Bob’s Discount Furniture in a research note on Monday, March 2nd. They set an “overweight” rating and a $29.00 price target on the stock. The Goldman Sachs Group began coverage on Bob’s Discount Furniture in a research note on Monday, March 2nd. They issued a “neutral” rating and a $25.00 price objective for the company. Raymond James Financial raised Bob’s Discount Furniture to a “moderate buy” rating in a report on Monday, March 2nd. Morgan Stanley began coverage on Bob’s Discount Furniture in a research report on Monday, March 2nd. They set an “overweight” rating and a $25.50 target price on the stock. Finally, Wall Street Zen raised Bob’s Discount Furniture to a “hold” rating in a report on Monday, February 16th. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Bob’s Discount Furniture currently has a consensus rating of “Moderate Buy” and an average price target of $26.32.

Bob’s Discount Furniture Trading Down 6.8%

Insider Buying and Selling

In related news, Director Jennifer Lynn Davis sold 2,917,500 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $15.94, for a total value of $46,504,950.00. Following the sale, the director owned 95,370,751 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, Director John Thomas Kilgallon sold 2,917,500 shares of the stock in a transaction on 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 owned 95,370,751 shares in the company, valued at approximately $1,520,209,770.94. This trade represents a 2.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company 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.