Conn’s Inc. (CONN) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Conn’s Inc. (NASDAQ:CONN) have received an average recommendation of “Hold” from the six brokerages that are currently covering the company. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $22.33.
CONN has been the subject of several research analyst reports. Zacks Investment Research downgraded Conn’s from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 16th. Stifel Nicolaus raised Conn’s from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Wednesday, September 21st. Finally, TheStreet downgraded Conn’s from a “hold” rating to a “sell” rating in a report on Thursday, September 8th.
Conn’s (NASDAQ:CONN) traded up 9.6370% during mid-day trading on Wednesday, hitting $9.8454. 586,761 shares of the stock were exchanged. Conn’s has a 12-month low of $6.54 and a 12-month high of $28.00. The company has a 50 day moving average of $9.47 and a 200 day moving average of $9.36. The firm’s market cap is $303.02 million.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/19/conns-inc-conn-receives-consensus-recommendation-of-hold-from-brokerages.html
Conn’s (NASDAQ:CONN) last posted its quarterly earnings data on Thursday, September 8th. The company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.03. The business earned $398.16 million during the quarter, compared to the consensus estimate of $413.12 million. Conn’s had a negative return on equity of 1.16% and a negative net margin of 1.40%. The company’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 earnings per share. On average, equities analysts anticipate that Conn’s will post ($0.40) earnings per share for the current fiscal year.
In related news, major shareholder Harriet C. Stephens purchased 22,619 shares of the business’s stock in a transaction dated Friday, September 9th. The stock was acquired at an average price of $8.84 per share, for a total transaction of $199,951.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI boosted its position in Conn’s by 36.0% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 37,720 shares of the company’s stock valued at $284,000 after buying an additional 9,981 shares during the last quarter. Societe Generale acquired a new position in Conn’s during the second quarter valued at about $949,000. Pacific Global Investment Management CO boosted its position 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 valued at $5,834,000 after buying an additional 21,895 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Conn’s during the second quarter valued at about $381,000. Finally, Stephens Inc. AR boosted its position in Conn’s by 401.6% in the second quarter. Stephens Inc. AR now owns 54,956 shares of the company’s stock valued at $413,000 after buying an additional 44,000 shares during the last quarter. Hedge funds and other institutional investors own 63.59% of the company’s stock.
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.
Receive News & Ratings for Conn's Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conn's Inc. and related companies with MarketBeat.com's FREE daily email newsletter.