Bob’s Discount Furniture (NYSE:BOBS) Shares Gap Down – Here’s Why

Bob’s Discount Furniture, Inc. (NYSE:BOBS)’s share price gapped down before the market opened on Wednesday. The stock had previously closed at $14.32, but opened at $13.50. Bob’s Discount Furniture shares last traded at $13.12, with a volume of 81,667 shares traded.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BOBS shares. Robert W. Baird set a $19.00 price objective on Bob’s Discount Furniture in a research note on Friday, August 7th. Evercore set a $18.00 target price on Bob’s Discount Furniture in a research note on Tuesday. Weiss Ratings raised Bob’s Discount Furniture from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. Finally, Royal Bank Of Canada lifted their target price on Bob’s Discount Furniture from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Bob’s Discount Furniture presently has an average rating of “Moderate Buy” and a consensus target price of $23.83.

Bob’s Discount Furniture Stock Up 8.4%

The company has a market cap of $1.92 billion and a price-to-earnings ratio of 22.93. The stock’s 50-day moving average is $15.98 and its 200-day moving average is $14.42. The company has a current ratio of 0.90, a quick ratio of 0.28 and a debt-to-equity ratio of 0.14.

Bob’s Discount Furniture (NYSE:BOBS) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.20 EPS for the quarter, hitting analysts’ consensus estimates of $0.20. The company had revenue of $619.57 million during the quarter. On average, analysts anticipate that Bob’s Discount Furniture, Inc. will post 0.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bob’s Discount Furniture

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Alyeska Investment Group L.P. acquired a new stake in shares of Bob’s Discount Furniture in the 2nd quarter valued at about $16,599,000. HBK Investments L P bought a new stake in Bob’s Discount Furniture in the 2nd quarter valued at about $3,955,000. State Street Corp acquired a new position in Bob’s Discount Furniture during the 2nd quarter worth approximately $4,683,000. Bank of New York Mellon Corp acquired a new position in Bob’s Discount Furniture during the 2nd quarter worth approximately $700,000. Finally, State of Alaska Department of Revenue acquired a new position in Bob’s Discount Furniture during the 3rd quarter worth approximately $93,000.

About Bob’s Discount Furniture

Bob’s Discount Furniture (NYSE: BOBS) is a U.S. furniture retailer that sells value-oriented furniture and home furnishings through its retail stores and e-commerce platform. The company serves residential customers seeking affordable products for a range of rooms and home settings.

Its merchandise includes living room, bedroom, dining room, home office and children’s furniture, as well as mattresses, rugs, lighting, décor and other home accessories. Bob’s also provides related services such as furniture delivery, assembly and financing options, subject to applicable terms.

Founded in 1991 by Robert “Bob” Kaufman, the company is headquartered in Manchester, Connecticut, and operates primarily across the United States, with a retail presence concentrated in the Northeast, Mid-Atlantic, Midwest and other regions.