Bob’s Discount Furniture, Inc.’s Quiet Period Set To End Tomorrow (NYSE:BOBS)

Bob’s Discount Furniture’s (NYSE:BOBS) quiet period is set to end on Tuesday, March 17th. Bob’s Discount Furniture had issued 19,450,000 shares in its initial public offering on February 5th. The total size of the offering was $330,650,000 based on an initial share price of $17.00. During Bob’s Discount Furniture’s quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Royal Bank Of Canada initiated coverage on Bob’s Discount Furniture in a research report on Monday, March 2nd. They set an “outperform” rating and a $26.00 price objective for the company. Robert W. Baird started coverage on shares of Bob’s Discount Furniture in a research report on Monday, March 2nd. They issued a “neutral” rating and a $22.00 target price on the stock. Bank of America began coverage on shares of Bob’s Discount Furniture in a research report on Monday, March 2nd. They set a “buy” rating and a $28.00 price target for the company. Morgan Stanley began coverage on shares of Bob’s Discount Furniture in a research note on Monday, March 2nd. They set an “overweight” rating and a $25.50 price objective on the stock. Finally, DA Davidson initiated coverage on shares of Bob’s Discount Furniture in a report on Monday, February 23rd. They issued a “buy” rating and a $26.00 price objective on the stock. Ten research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.32.

Bob’s Discount Furniture Trading Down 6.8%

Shares of BOBS stock opened at $15.38 on Monday. Bob’s Discount Furniture has a one year low of $15.13 and a one year high of $23.49.

Insider Buying and Selling

In related news, Director John Thomas Kilgallon sold 2,917,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 95,370,751 shares in the company, valued at $1,520,209,770.94. The trade was a 2.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jennifer Lynn Davis sold 2,917,500 shares of Bob’s Discount Furniture stock in a transaction 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 completion of the sale, the director directly owned 95,370,751 shares of the company’s stock, valued at approximately $1,520,209,770.94. The trade was a 2.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.20% of the company’s stock.

About Bob’s Discount Furniture

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.