Conn’s, Inc. (NASDAQ:CONN) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Monday, July 24th.
Several other research analysts also recently commented on the stock. Stephens reissued an “overweight” rating and set a $28.00 price objective (up previously from $25.00) on shares of Conn’s in a report on Monday, July 17th. Zacks Investment Research raised shares of Conn’s from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective for the company in a report on Wednesday, June 7th. ValuEngine raised shares of Conn’s from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Conn’s in a report on Tuesday, June 20th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $20.00 price objective (up previously from $19.00) on shares of Conn’s in a report on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $22.50.
Conn’s (CONN) opened at 20.80 on Monday. The firm’s market cap is $645.07 million. The stock’s 50 day moving average price is $20.30 and its 200-day moving average price is $14.80. Conn’s has a 12-month low of $6.55 and a 12-month high of $23.75.
Conn’s (NASDAQ:CONN) last issued its quarterly earnings results on Tuesday, June 6th. The specialty retailer reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.17. Conn’s had a negative return on equity of 0.72% and a negative net margin of 1.18%. The business had revenue of $355.80 million during the quarter, compared to analyst estimates of $357.53 million. During the same quarter in the prior year, the business posted ($0.31) EPS. Conn’s’s revenue for the quarter was down 8.6% compared to the same quarter last year. Equities research analysts anticipate that Conn’s will post $0.49 earnings per share for the current fiscal year.
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In other news, Director Douglas H. Martin acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was acquired at an average price of $17.83 per share, with a total value of $178,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder W. R. Jr. Stephens acquired 12,000 shares of the firm’s stock in a transaction on Friday, July 14th. The stock was purchased at an average cost of $18.85 per share, with a total value of $226,200.00. The disclosure for this purchase can be found here. 3.48% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in CONN. American International Group Inc. increased its stake in shares of Conn’s by 7.1% in the first quarter. American International Group Inc. now owns 12,501 shares of the specialty retailer’s stock valued at $109,000 after buying an additional 830 shares during the last quarter. ClariVest Asset Management LLC purchased a new stake in shares of Conn’s during the second quarter valued at about $114,000. Metropolitan Life Insurance Co. NY increased its stake in shares of Conn’s by 839.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,138 shares of the specialty retailer’s stock valued at $204,000 after buying an additional 14,421 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Conn’s during the second quarter valued at about $258,000. Finally, Wells Fargo & Company MN increased its stake in shares of Conn’s by 2.5% in the second quarter. Wells Fargo & Company MN now owns 16,192 shares of the specialty retailer’s stock valued at $310,000 after buying an additional 400 shares during the last quarter. 62.58% of the stock is owned by institutional investors and hedge funds.
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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