Zacks Downgrades Conn’s to Neutral (CONN)
Conn’s (NASDAQ:CONN) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, American Banking and Market News reports. They currently have a $69.60 target price on the stock. Zacks‘ target price indicates a potential upside of 24.24% from the company’s current price.
Conn’s (NASDAQ:CONN) traded up 1.46% on Wednesday, hitting $56.84. The stock had a trading volume of 794,796 shares. Conn’s has a 1-year low of $29.18 and a 1-year high of $80.34. The stock has a 50-day moving average of $70.75 and a 200-day moving average of $63.29. The company has a market cap of $2.046 billion and a P/E ratio of 24.41.
Conn’s (NASDAQ:CONN) last issued its quarterly earnings data on Thursday, December 5th. The company reported $0.66 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.64 by $0.02. The company had revenue of $310.90 million for the quarter, compared to the consensus estimate of $289.90 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 50.6% on a year-over-year basis. Analysts expect that Conn’s will post $2.77 EPS for the current fiscal year.
CONN has been the subject of a number of other recent research reports. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Conn’s in a research note to investors on Friday, December 6th. They now have a $87.00 price target on the stock, up previously from $74.00. Separately, analysts at B. Riley raised their price target on shares of Conn’s from $73.00 to $86.00 in a research note to investors on Friday, December 6th. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Conn’s from $79.00 to $88.00 in a research note to investors on Thursday, December 5th. They now have a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $76.09.
Conn’s, Inc, is a specialty retailer of durable consumer products, and it also provides consumer credit to support its customers’ purchases of the products that it offer.
To view Zacks’ full report, visit www.zacks.com
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