Bob’s Discount Furniture (NYSE:BOBS) Shares Climb 7% – Time to Buy?

Bob’s Discount Furniture, Inc. (NYSE:BOBS)’s stock price was up 7% during trading on Thursday. The stock traded as high as $16.07 and last traded at $16.14. 77,080 shares traded hands during trading, a decline of 93% from the average session volume of 1,058,179 shares. The stock had previously closed at $15.08.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BOBS shares. Royal Bank Of Canada increased their price objective on shares of Bob’s Discount Furniture from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Robert W. Baird set a $19.00 price objective on Bob’s Discount Furniture in a report on Friday, August 7th. Evercore set a $18.00 target price on Bob’s Discount Furniture in a research report on Tuesday, October 13th. Finally, Weiss Ratings upgraded Bob’s Discount Furniture from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 17th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bob’s Discount Furniture has an average rating of “Moderate Buy” and a consensus price target of $23.83.

Bob’s Discount Furniture Trading Down 0.7%

The business’s 50 day simple moving average is $15.61 and its 200 day simple moving average is $14.57. The stock has a market cap of $2.12 billion and a price-to-earnings ratio of 25.30. The company has a quick ratio of 0.28, a current ratio of 0.90 and a debt-to-equity ratio of 0.14.

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

Hedge Funds Weigh In On Bob’s Discount Furniture

A number of institutional investors have recently bought and sold shares of BOBS. Alyeska Investment Group L.P. bought a new position in Bob’s Discount Furniture during the second quarter worth $16,599,000. HBK Investments L P acquired a new position in shares of Bob’s Discount Furniture in the second quarter valued at $3,955,000. State Street Corp acquired a new position in shares of Bob’s Discount Furniture in the second quarter valued at $4,683,000. Bank of New York Mellon Corp bought a new position in shares of Bob’s Discount Furniture in the second quarter valued at about $700,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Bob’s Discount Furniture in the third quarter valued at about $93,000.

About Bob’s Discount Furniture

Bob’s Discount Furniture is a U.S. furniture retailer that sells a broad selection of furniture and home furnishings at value-oriented prices. Its merchandise includes living room, bedroom, dining room and home office furniture, as well as mattresses, rugs, lighting, décor and other household products.

The company was founded in 1991 by Robert “Bob” Kaufman in Newington, Connecticut. Bob’s operates an omnichannel retail model that combines a network of showrooms with online shopping and related delivery and service capabilities.