CONN'S Reaches New 12-Month Low on Analyst Downgrade (CONN)
CONN'S (NASDAQ:CONN) hit a new 52-week low on Thursday after B. Riley lowered their price target on the stock from $82.00 to $62.00, AnalystRatingsNetwork reports. The stock traded as low as $29.12 and last traded at $29.17, with a volume of 2,372,670 shares traded. The stock had previously closed at $30.42.
A number of other firms have also recently commented on CONN. Analysts at Canaccord Genuity cut their price target on shares of CONN'S from $71.00 to $40.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Stifel Nicolaus downgraded shares of CONN'S from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, analysts at SunTrust cut their price target on shares of CONN'S from $65.00 to $45.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $46.40.
In other CONN'S news, Director Scott L. Thompson acquired 16,100 shares of CONN'S stock on the open market in a transaction dated Wednesday, September 3rd. The shares were purchased at an average price of $30.89 per share, with a total value of $497,329.00. The purchase was disclosed in a filing with the SEC, which is available at this link.
The stock’s 50-day moving average is $41.68 and its 200-day moving average is $42.01. The company has a market cap of $1.055 billion and a P/E ratio of 11.44.
CONN'S (NASDAQ:CONN) last announced its earnings results on Tuesday, September 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by $0.25. The company had revenue of $353.00 million for the quarter. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 30.4% on a year-over-year basis. On average, analysts predict that CONN'S will post $2.88 earnings per share for the current fiscal year.
Conn’s, Inc is a holding company. The Company 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.
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