Bob’s Discount Furniture, Inc.’s Lock-Up Period To End on August 4th (NYSE:BOBS)

Bob’s Discount Furniture’s (NYSE:BOBS) lock-up period will end on Tuesday, August 4th. 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. After the end of Bob’s Discount Furniture’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Weiss Ratings assumed coverage on shares of Bob’s Discount Furniture in a research report on Thursday, May 14th. They issued a “sell (d)” rating for the company. Royal Bank Of Canada lowered their price target on Bob’s Discount Furniture from $25.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Evercore reaffirmed an “outperform” rating and set a $16.00 price target on shares of Bob’s Discount Furniture in a research note on Friday, May 8th. Robert W. Baird set a $14.00 price objective on Bob’s Discount Furniture in a report on Friday, May 8th. Finally, UBS Group reduced their price objective on Bob’s Discount Furniture from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Eleven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.92.

Bob’s Discount Furniture Stock Up 1.7%

Shares of Bob’s Discount Furniture stock opened at $16.70 on Friday. Bob’s Discount Furniture has a 52-week low of $9.73 and a 52-week high of $23.49. The firm has a fifty day simple moving average of $14.66. The stock has a market cap of $2.18 billion and a PE ratio of 37.95.

Bob’s Discount Furniture (NYSE:BOBS) last issued its earnings results on Thursday, May 7th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.12). The company had revenue of $578.10 million for the quarter. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS.

Insider Activity

In related news, insider William G. Barton acquired 22,150 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were purchased at an average price of $13.56 per share, for a total transaction of $300,354.00. Following the completion of the acquisition, the insider owned 22,150 shares in the company, valued at approximately $300,354. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company 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.