Conn’s, Inc. (NASDAQ:CONN) Downgraded by BidaskClub
Conn’s, Inc. (NASDAQ:CONN) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Friday.
Several other research firms have also issued reports on CONN. Zacks Investment Research lowered shares of Conn’s from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Stephens reissued an “overweight” rating and issued a $28.00 target price (up from $25.00) on shares of Conn’s in a report on Monday, July 17th. ValuEngine raised shares of Conn’s from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Conn’s in a report on Tuesday, June 20th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 price objective (up from $19.00) on shares of Conn’s in a report on Wednesday, June 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $22.50.
Shares of Conn’s (NASDAQ CONN) traded up 2.72% during trading on Friday, reaching $20.80. 470,213 shares of the company traded hands. The company’s 50-day moving average price is $20.30 and its 200-day moving average price is $14.80. The company’s market capitalization is $645.07 million. Conn’s has a 52 week low of $6.55 and a 52 week high of $23.75.
Conn’s (NASDAQ:CONN) last released its earnings results on Tuesday, June 6th. The specialty retailer reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.17. The company had revenue of $355.80 million during the quarter, compared to analyst estimates of $357.53 million. Conn’s had a negative net margin of 1.18% and a negative return on equity of 0.72%. The firm’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.31) EPS. Equities research analysts forecast that Conn’s will post $0.49 EPS for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This piece of content was published by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another site, it was stolen and republished in violation of U.S. and international copyright legislation. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/08/13/conns-inc-nasdaqconn-downgraded-by-bidaskclub.html.
In related news, major shareholder W. R. Jr. Stephens acquired 12,000 shares of the business’s stock in a transaction on Friday, July 14th. The stock was acquired at an average cost of $18.85 per share, with a total value of $226,200.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James H. Haworth sold 7,392 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $19.34, for a total transaction of $142,961.28. Following the sale, the director now directly owns 4,425 shares of the company’s stock, valued at $85,579.50. The disclosure for this sale can be found here. Company insiders own 3.48% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. American International Group Inc. raised its stake in shares of Conn’s by 7.1% in the first quarter. American International Group Inc. now owns 12,501 shares of the specialty retailer’s stock worth $109,000 after buying an additional 830 shares during the period. ClariVest Asset Management LLC bought a new stake in shares of Conn’s during the second quarter worth about $114,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Conn’s by 839.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,138 shares of the specialty retailer’s stock worth $204,000 after buying an additional 14,421 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Conn’s during the second quarter worth about $258,000. Finally, Wells Fargo & Company MN raised its stake in shares of Conn’s by 2.5% in the second quarter. Wells Fargo & Company MN now owns 16,192 shares of the specialty retailer’s stock worth $310,000 after buying an additional 400 shares during the period. 62.58% 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.
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.