BidaskClub Downgrades Conn’s, Inc. (CONN) to Hold
Conn’s, Inc. (NASDAQ:CONN) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Friday.
Other equities research analysts have also issued reports about the stock. Stifel Nicolaus reiterated a “buy” rating and set a $20.00 target price (up from $19.00) on shares of Conn’s in a research report on Wednesday, June 7th. Zacks Investment Research upgraded shares of Conn’s from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Tuesday, July 11th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Conn’s in a research report on Tuesday, June 20th. ValuEngine upgraded shares of Conn’s from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Stephens reiterated an “overweight” rating and set a $28.00 target price (up from $25.00) on shares of Conn’s in a research report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Conn’s has an average rating of “Hold” and an average price target of $22.50.
Shares of Conn’s (NASDAQ:CONN) traded down 0.27% during trading on Friday, reaching $18.35. 527,754 shares of the company traded hands. Conn’s has a 12-month low of $6.55 and a 12-month high of $23.75. The firm’s 50-day moving average is $20.57 and its 200-day moving average is $15.12. The stock’s market capitalization is $569.09 million.
Conn’s (NASDAQ:CONN) last announced its earnings results on Tuesday, June 6th. The specialty retailer reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.17. Conn’s had a negative net margin of 1.18% and a negative return on equity of 0.72%. The business had revenue of $355.80 million during the quarter, compared to analyst estimates of $357.53 million. During the same period in the previous year, the business posted ($0.31) earnings per share. Conn’s’s revenue for the quarter was down 8.6% on a year-over-year basis. On average, equities analysts predict that Conn’s will post $0.49 earnings per share for the current fiscal year.
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In other news, Director James H. Haworth sold 7,392 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $19.34, for a total value of $142,961.28. Following the completion of the sale, the director now directly owns 4,425 shares in the company, valued at approximately $85,579.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder W. R. Jr. Stephens acquired 12,000 shares of the stock in a transaction dated Friday, July 14th. The stock was acquired at an average price of $18.85 per share, with a total value of $226,200.00. The disclosure for this purchase can be found here. Insiders own 3.48% of the company’s stock.
Large investors have recently made changes to their positions in the company. State Street Corp raised its stake in shares of Conn’s by 45.9% in the second quarter. State Street Corp now owns 566,793 shares of the specialty retailer’s stock worth $10,828,000 after buying an additional 178,277 shares during the last quarter. Royce & Associates LP raised its stake in shares of Conn’s by 3.4% in the second quarter. Royce & Associates LP now owns 429,411 shares of the specialty retailer’s stock worth $8,202,000 after buying an additional 14,075 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of Conn’s by 77.5% in the first quarter. Point72 Asset Management L.P. now owns 400,000 shares of the specialty retailer’s stock worth $3,500,000 after buying an additional 174,600 shares during the last quarter. Stephens Inc. AR raised its stake in shares of Conn’s by 85.5% in the first quarter. Stephens Inc. AR now owns 376,350 shares of the specialty retailer’s stock worth $3,293,000 after buying an additional 173,416 shares during the last quarter. Finally, Luzich Partners LLC raised its stake in shares of Conn’s by 3.8% in the second quarter. Luzich Partners LLC now owns 305,822 shares of the specialty retailer’s stock worth $5,841,000 after buying an additional 11,210 shares during the last quarter. Hedge funds and other institutional investors own 63.74% 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.
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