Bob’s Discount Furniture, Inc.’s Lock-Up Period Will End on August 4th (NYSE:BOBS)

Bob’s Discount Furniture’s (NYSE:BOBS) lock-up period is set to end on Tuesday, August 4th. Bob’s Discount Furniture had issued 19,450,000 shares in its initial public offering on February 5th. The total size of the offering was $330,650,000 based on an initial share price of $17.00. After the end of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BOBS. Evercore restated an “outperform” rating and issued a $16.00 price objective on shares of Bob’s Discount Furniture in a research report on Friday, May 8th. Robert W. Baird set a $14.00 target price on Bob’s Discount Furniture in a research report on Friday, May 8th. Royal Bank Of Canada cut their target price on Bob’s Discount Furniture from $25.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Weiss Ratings started coverage on Bob’s Discount Furniture in a report on Thursday, May 14th. They issued a “sell (d)” rating for the company. Finally, UBS Group decreased their price target on Bob’s Discount Furniture from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Eleven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Bob’s Discount Furniture currently has a consensus rating of “Moderate Buy” and an average target price of $22.92.

Bob’s Discount Furniture Price Performance

Shares of BOBS opened at $16.00 on Tuesday. Bob’s Discount Furniture has a 52-week low of $9.73 and a 52-week high of $23.49. The company has a 50-day moving average of $14.25. The stock has a market cap of $2.09 billion and a P/E ratio of 36.37.

Bob’s Discount Furniture (NYSE:BOBS) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.12). The company had revenue of $578.10 million for the quarter. During the same quarter in the prior year, the company earned $0.13 EPS. The company’s revenue was up 8.5% compared to the same quarter last year.

Insider Activity

In other news, insider William G. Barton purchased 22,150 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were acquired at an average price of $13.56 per share, with a total value of $300,354.00. Following the purchase, the insider directly owned 22,150 shares of the company’s stock, valued at $300,354. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 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.