Conn’s Inc. (CONN) Upgraded to Buy by Stifel Nicolaus
Conn’s Inc. (NASDAQ:CONN) was upgraded by Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.
A number of other analysts have also weighed in on CONN. Piper Jaffray Cos. lowered shares of Conn’s from an “overweight” rating to a “neutral” rating in a research note on Friday, June 3rd. Zacks Investment Research raised shares of Conn’s from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. Finally, TheStreet lowered shares of Conn’s from a “hold” rating to a “sell” rating in a research note on Thursday, September 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $29.50.
Shares of Conn’s (NASDAQ:CONN) opened at 10.16 on Wednesday. The stock’s market capitalization is $312.70 million. The firm has a 50-day moving average of $7.52 and a 200 day moving average of $10.15. Conn’s has a 1-year low of $6.54 and a 1-year high of $28.00.
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Conn’s (NASDAQ:CONN) last posted its earnings results on Thursday, September 8th. The company reported ($0.04) earnings per share (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%. Conn’s’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 EPS. On average, equities analysts anticipate that Conn’s will post ($0.40) earnings per share for the current fiscal year.
In other Conn’s news, major shareholder Harriet C. Stephens bought 22,619 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was acquired at an average cost of $8.84 per share, with a total value of $199,951.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder A Stephens Grantors Tru Warren bought 285,000 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The shares were 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 owns 385,350 shares of the company’s stock, valued at $2,735,985. The disclosure for this purchase can be found here. Corporate insiders own 3.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in CONN. BlackRock Group LTD raised its stake in Conn’s by 21.5% in the first quarter. BlackRock Group LTD now owns 10,262 shares of the company’s stock valued at $128,000 after buying an additional 1,813 shares in the last quarter. State Street Corp raised its stake in Conn’s by 14.6% in the first quarter. State Street Corp now owns 817,435 shares of the company’s stock worth $10,187,000 after buying an additional 103,945 shares in the last quarter. Pacific Global Investment Management CO raised its stake in Conn’s by 4.9% in the first quarter. Pacific Global Investment Management CO now owns 468,245 shares of the company’s stock worth $5,834,000 after buying an additional 21,895 shares in the last quarter. Geode Capital Management LLC raised its stake in Conn’s by 9.9% in the first quarter. Geode Capital Management LLC now owns 184,259 shares of the company’s stock worth $2,295,000 after buying an additional 16,570 shares in the last quarter. Finally, Contrarian Capital Management L.L.C. raised its stake in Conn’s by 26.2% in the first quarter. Contrarian Capital Management L.L.C. now owns 67,064 shares of the company’s stock worth $836,000 after buying an additional 13,939 shares in the last quarter. 63.66% 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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