Bob’s Discount Furniture (NYSE:BOBS) Stock Jumps 8.3% – Still a Buy?

Bob’s Discount Furniture, Inc. (NYSE:BOBS) shares rose 8.3% during mid-day trading on Monday. The stock traded as high as $17.82 and last traded at $17.95. 115,233 shares traded hands during trading, a decline of 89% from the average daily volume of 1,040,490 shares. The stock had previously closed at $16.57.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Weiss Ratings raised Bob’s Discount Furniture from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 17th. Robert W. Baird set a $19.00 target price 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 report on Tuesday, October 13th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Bob’s Discount Furniture in a research note on Monday, October 26th. 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.83.

Bob’s Discount Furniture Price Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 0.90 and a quick ratio of 0.28. The company’s 50 day moving average price is $15.41 and its 200 day moving average price is $14.96. The firm has a market capitalization of $2.35 billion and a P/E ratio of 28.05.

Bob’s Discount Furniture (NYSE:BOBS) last released its earnings results on Thursday, August 6th. The company reported $0.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.20. The firm had revenue of $619.57 million for the quarter. As a group, sell-side analysts anticipate 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 hedge funds and other institutional investors have recently made changes to their positions in BOBS. State of Alaska Department of Revenue bought a new position in shares of Bob’s Discount Furniture during the third quarter worth $93,000. Readystate Asset Management LP bought a new stake in shares of Bob’s Discount Furniture in the 2nd quarter valued at $237,000. Penn Capital Management Company LLC bought a new stake in shares of Bob’s Discount Furniture in the 2nd quarter valued at $423,000. Bank of New York Mellon Corp acquired a new stake in Bob’s Discount Furniture during the 2nd quarter worth $700,000. Finally, HBK Investments L P bought a new position in Bob’s Discount Furniture during the second quarter worth about $3,955,000.

Bob’s Discount Furniture Company Profile

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.