Bob’s Discount Furniture (NYSE:BOBS) Stock Gets Price Target Boost from JPMorgan Chase & Co.

Bob’s Discount Furniture (NYSE:BOBS) had its target price boosted by JPMorgan Chase & Co. from $22.00 to $25.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 29.29% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Evercore set a $18.00 price objective on shares of Bob’s Discount Furniture in a research note on Tuesday, October 13th. Robert W. Baird set a $19.00 target price on shares of Bob’s Discount Furniture in a research note on Friday, August 7th. Weiss Ratings raised shares of Bob’s Discount Furniture from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 17th. Finally, Royal Bank Of Canada reduced their price target on shares of Bob’s Discount Furniture from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Friday. 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.67.

Bob’s Discount Furniture Trading Down 0.4%

NYSE:BOBS opened at $19.34 on Friday. The firm has a market capitalization of $2.53 billion and a PE ratio of 17.42. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.90 and a quick ratio of 0.28. Bob’s Discount Furniture has a 12 month low of $9.73 and a 12 month high of $23.49. The business’s 50-day moving average is $15.50 and its two-hundred day moving average is $15.05.

Bob’s Discount Furniture (NYSE:BOBS) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.28 EPS for the quarter, hitting analysts’ consensus estimates of $0.28. The firm had revenue of $680.44 million for the quarter. Bob’s Discount Furniture had a net margin of 5.66% and a return on equity of 30.04%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 EPS. Research analysts predict that Bob’s Discount Furniture will post 0.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bob’s Discount Furniture

A number of large investors have recently bought and sold shares of the business. William Blair Investment Management LLC bought a new position in shares of Bob’s Discount Furniture during the third quarter valued at approximately $33,165,000. Alyeska Investment Group L.P. acquired a new stake in shares of Bob’s Discount Furniture during the 2nd quarter worth approximately $16,599,000. State Street Corp bought a new stake in shares of Bob’s Discount Furniture in the 2nd quarter worth approximately $4,683,000. HBK Investments L P bought a new stake in shares of Bob’s Discount Furniture in the 2nd quarter worth approximately $3,955,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Bob’s Discount Furniture by 4,192.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 67,343 shares of the company’s stock worth $933,000 after purchasing an additional 65,774 shares during the last quarter.

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.