Conn’s, Inc. (CONN) Receives Average Recommendation of “Buy” from Analysts
Conn’s, Inc. (NASDAQ:CONN) has earned an average rating of “Buy” from the ten research firms that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $33.33.
A number of analysts recently issued reports on CONN shares. Zacks Investment Research cut Conn’s from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 3rd. Stifel Nicolaus cut Conn’s from a “buy” rating to a “hold” rating and upped their target price for the company from $26.00 to $30.00 in a research report on Monday, October 9th. BidaskClub raised Conn’s from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. UBS AG raised Conn’s from a “market perform” rating to an “outperform” rating in a research report on Friday, September 29th. Finally, Stephens reissued an “overweight” rating and issued a $28.00 target price (up from $25.00) on shares of Conn’s in a research report on Monday, July 17th.
Conn’s (NASDAQ CONN) traded up 4.28% during midday trading on Thursday, hitting $28.05. The company had a trading volume of 464,842 shares. The firm has a 50-day moving average price of $23.83 and a 200-day moving average price of $19.32. Conn’s has a 12 month low of $7.75 and a 12 month high of $28.60. The company’s market cap is $875.33 million.
Conn’s (NASDAQ:CONN) last announced its earnings results on Thursday, September 7th. The specialty retailer reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.28. The firm had revenue of $366.65 million during the quarter, compared to analysts’ expectations of $371.97 million. Conn’s had a positive return on equity of 1.08% and a negative net margin of 0.14%. The business’s revenue was down 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.04) EPS. Equities analysts anticipate that Conn’s will post $0.74 EPS for the current year.
In related news, major shareholder Harriet C. Stephens acquired 23,000 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was bought at an average cost of $25.50 per share, with a total value of $586,500.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Harriet C. Stephens acquired 42,000 shares of the firm’s stock in a transaction on Friday, October 13th. The shares were bought at an average cost of $25.40 per share, with a total value of $1,066,800.00. The disclosure for this purchase can be found here. 3.48% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd acquired a new stake in Conn’s during the 2nd quarter worth approximately $468,000. Sterling Capital Management LLC acquired a new stake in Conn’s during the 2nd quarter worth approximately $868,000. Luzich Partners LLC lifted its position in Conn’s by 3.8% during the 2nd quarter. Luzich Partners LLC now owns 305,822 shares of the specialty retailer’s stock worth $5,841,000 after acquiring an additional 11,210 shares during the period. State Street Corp lifted its position in Conn’s by 45.9% during the 2nd quarter. State Street Corp now owns 566,793 shares of the specialty retailer’s stock worth $10,828,000 after acquiring an additional 178,277 shares during the period. Finally, PDT Partners LLC lifted its position in Conn’s by 12.9% during the 2nd quarter. PDT Partners LLC now owns 92,200 shares of the specialty retailer’s stock worth $1,761,000 after acquiring an additional 10,500 shares during the period. 70.97% of the stock is owned by institutional investors.
Conn’s Company Profile
Conn’s, Inc is a specialty retailer that offers a selection of consumer goods and related services in addition to a credit solution for its core credit constrained consumers. The Company operates through two segments: retail and credit. The Retail segment includes product categories, such as furniture and mattress, including furniture and related accessories for the living room, dining room and bedroom; home appliance, including refrigerators, freezers, washers, dryers, dishwashers and ranges; Consumer electronics, including liquid-crystal-display (LED), organic LED (OLED), Ultra high definition (HD) and Internet-ready televisions, and home office, including computers, printers and accessories.
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