Conn’s Inc. (CONN) Rating Increased to Buy at Stifel Nicolaus
Conn’s Inc. (NASDAQ:CONN) was upgraded by stock analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $16.00 price target on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 57.48% from the stock’s current price.
Other research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Conn’s from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. TheStreet lowered shares of Conn’s from a “hold” rating to a “sell” rating in a research report on Thursday, September 8th. Finally, Piper Jaffray Cos. lowered shares of Conn’s from an “overweight” rating to a “neutral” rating in a research report on Friday, June 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $25.50.
Shares of Conn’s (NASDAQ:CONN) traded up 19.931% on Wednesday, reaching $12.185. The company had a trading volume of 3,653,283 shares. The company’s market capitalization is $375.03 million. Conn’s has a one year low of $6.54 and a one year high of $28.00. The company’s 50-day moving average is $7.52 and its 200-day moving average is $10.15.
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Conn’s (NASDAQ:CONN) last released its quarterly earnings results on Thursday, September 8th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The firm earned $398.16 million during the quarter, compared to analyst estimates of $413.12 million. Conn’s had a negative net margin of 1.40% and a negative return on equity of 1.16%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 EPS. Equities research analysts predict that Conn’s will post ($0.40) earnings per share for the current year.
In related news, Director William E. Saunders, Jr. bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 24th. The stock was bought at an average cost of $7.60 per share, for a total transaction of $76,000.00. Following the completion of the transaction, the director now owns 20,227 shares of the company’s stock, valued at $153,725.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder A Stephens Grantors Tru Warren purchased 285,000 shares of the stock in a transaction on Friday, July 15th. The stock was acquired at an average cost of $7.10 per share, with a total value of $2,023,500.00. Following the completion of the purchase, the insider now directly owns 385,350 shares of the company’s stock, valued at $2,735,985. The disclosure for this purchase can be found here. 3.60% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of CONN. Royal Bank of Canada increased its stake in Conn’s by 0.5% in the second quarter. Royal Bank of Canada now owns 19,116 shares of the company’s stock valued at $143,000 after buying an additional 94 shares in the last quarter. Guggenheim Capital LLC increased its stake in Conn’s by 103.0% in the second quarter. Guggenheim Capital LLC now owns 100,394 shares of the company’s stock valued at $755,000 after buying an additional 50,948 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in Conn’s by 0.6% in the second quarter. Parametric Portfolio Associates LLC now owns 72,032 shares of the company’s stock valued at $542,000 after buying an additional 404 shares in the last quarter. KCG Holdings Inc. increased its stake in Conn’s by 5.6% in the second quarter. KCG Holdings Inc. now owns 23,433 shares of the company’s stock valued at $176,000 after buying an additional 1,236 shares in the last quarter. Finally, Pacific Global Investment Management CO increased its stake in Conn’s by 11.1% in the second quarter. Pacific Global Investment Management CO now owns 520,190 shares of the company’s stock valued at $3,912,000 after buying an additional 51,945 shares in the last quarter. 63.66% of the stock is owned by institutional investors and hedge funds.
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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