DA Davidson Cuts Bob’s Discount Furniture (NYSE:BOBS) Price Target to $24.00

Bob’s Discount Furniture (NYSE:BOBS) had its target price lowered by DA Davidson from $26.00 to $24.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. KeyCorp began coverage on shares of Bob’s Discount Furniture in a research report on Monday, March 2nd. They set an “overweight” rating and a $28.00 price target for the company. Loop Capital started coverage on shares of Bob’s Discount Furniture in a report on Monday, March 2nd. They issued a “buy” rating and a $28.00 price target on the stock. UBS Group cut shares of Bob’s Discount Furniture to a “buy” rating and set a $27.00 price objective for the company. in a research note on Monday, March 2nd. Robert W. Baird cut their target price on Bob’s Discount Furniture from $22.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley initiated coverage on Bob’s Discount Furniture in a report on Monday, March 2nd. They issued an “overweight” rating and a $25.50 target price on the stock. Ten investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

Bob’s Discount Furniture Stock Performance

BOBS opened at $12.49 on Wednesday. Bob’s Discount Furniture has a 12 month low of $12.36 and a 12 month high of $23.49.

Bob’s Discount Furniture (NYSE:BOBS) last announced its quarterly earnings data 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 company had revenue of $648.83 million for the quarter, compared to analysts’ expectations of $647.49 million. During the same quarter in the previous year, the company earned $0.36 earnings per share. The company’s revenue 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 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 completion of the sale, the director 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Thomas Kilgallon sold 2,917,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the director directly owned 95,370,751 shares in the company, valued at approximately $1,520,209,770.94. This represents a 2.97% decrease in their position. The SEC filing for this sale provides additional information. 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.