Bob’s Discount Furniture, Inc.’s Quiet Period Set To End on March 17th (NYSE:BOBS)

Bob’s Discount Furniture’s (NYSE:BOBS) quiet period is set to end on Tuesday, March 17th. 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. During Bob’s Discount Furniture’s quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Ratings Changes

Several research firms have commented on BOBS. Bank of America initiated coverage on shares of Bob’s Discount Furniture in a research report on Monday, March 2nd. They issued a “buy” rating and a $28.00 target price for the company. Loop Capital started coverage on Bob’s Discount Furniture in a research report on Monday, March 2nd. They set a “buy” rating and a $28.00 price objective for the company. JPMorgan Chase & Co. started coverage on Bob’s Discount Furniture in a research report on Monday, March 2nd. They issued an “overweight” rating and a $29.00 target price on the stock. Wall Street Zen raised Bob’s Discount Furniture to a “hold” rating in a research note on Monday, February 16th. Finally, DA Davidson initiated coverage on Bob’s Discount Furniture in a research note on Monday, February 23rd. They issued a “buy” rating and a $26.00 price target for the company. Ten analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $26.32.

Bob’s Discount Furniture Stock Performance

Bob’s Discount Furniture stock opened at $18.10 on Tuesday. Bob’s Discount Furniture has a 12-month low of $16.47 and a 12-month high of $23.49.

Insiders Place Their Bets

In related news, Director Jennifer Lynn Davis sold 2,917,500 shares of the firm’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $15.94, for a total transaction of $46,504,950.00. Following the completion of the transaction, the director owned 95,370,751 shares of the company’s stock, valued at $1,520,209,770.94. This trade represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John Thomas Kilgallon sold 2,917,500 shares of Bob’s Discount Furniture stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $15.94, for a total value of $46,504,950.00. Following the transaction, the director directly owned 95,370,751 shares in the company, valued at approximately $1,520,209,770.94. The trade was a 2.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.