Bob’s Discount Furniture (NYSE:BOBS) Trading Down 7.9% – Should You Sell?

Bob’s Discount Furniture, Inc. (NYSE:BOBS) shares dropped 7.9% during mid-day trading on Monday . The stock traded as low as $12.53 and last traded at $12.5310. Approximately 140,681 shares changed hands during trading, a decline of 88% from the average daily volume of 1,219,786 shares. The stock had previously closed at $13.60.

Analysts Set New Price Targets

BOBS has been the topic of several recent analyst reports. Evercore reissued an “outperform” rating and set a $16.00 target price on shares of Bob’s Discount Furniture in a research note on Friday, May 8th. KeyCorp initiated coverage on Bob’s Discount Furniture in a research note on Monday, March 2nd. They set an “overweight” rating and a $28.00 target price on the stock. Weiss Ratings initiated coverage on Bob’s Discount Furniture in a research note on Thursday, May 14th. They set a “sell (d)” rating on the stock. Morgan Stanley decreased their target price on Bob’s Discount Furniture from $25.50 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 18th. Finally, Royal Bank Of Canada decreased their target price on Bob’s Discount Furniture from $25.00 to $18.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Eleven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Bob’s Discount Furniture currently has an average rating of “Moderate Buy” and an average target price of $22.92.

Bob’s Discount Furniture Price Performance

The business’s fifty day moving average is $11.77.

Bob’s Discount Furniture (NYSE:BOBS) last announced 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 firm had revenue of $578.10 million during the quarter. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 earnings per share.

Insider Activity at Bob’s Discount Furniture

In related news, insider William G. Barton bought 22,150 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was purchased at an average price of $13.56 per share, for a total transaction of $300,354.00. Following the acquisition, the insider owned 22,150 shares in the company, valued at $300,354. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.