Conn’s’ (CONN) “Hold” Rating Reiterated at Oppenheimer Holdings Inc.
Conn’s, Inc. (NASDAQ:CONN)‘s stock had its “hold” rating reaffirmed by stock analysts at Oppenheimer Holdings Inc. in a research note issued to investors on Friday.
A number of other brokerages also recently issued reports on CONN. Stifel Nicolaus reissued a “buy” rating and set a $26.00 price target (up from $20.00) on shares of Conn’s in a report on Friday. Zacks Investment Research raised shares of Conn’s from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Tuesday, July 11th. BidaskClub downgraded shares of Conn’s from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. ValuEngine upgraded shares of Conn’s from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, KeyCorp restated an “overweight” rating and set a $22.00 price objective on shares of Conn’s in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Conn’s has a consensus rating of “Hold” and an average price target of $24.00.
Shares of Conn’s (CONN) traded up 6.21% during mid-day trading on Friday, hitting $23.10. 1,436,267 shares of the stock traded hands. The firm has a 50 day moving average of $20.44 and a 200 day moving average of $15.95. Conn’s has a 12 month low of $7.75 and a 12 month high of $23.75. The stock’s market cap is $716.40 million.
Conn’s (NASDAQ:CONN) last announced its quarterly earnings results on Thursday, September 7th. The specialty retailer reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.28. Conn’s had a negative net margin of 1.18% and a negative return on equity of 0.72%. The firm had revenue of $366.65 million for the quarter, compared to the consensus estimate of $371.97 million. During the same period in the prior year, the firm posted ($0.04) earnings per share. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. On average, equities analysts expect that Conn’s will post $0.49 EPS for the current fiscal year.
In other Conn’s news, Director James H. Haworth sold 7,392 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 4,425 shares in the company, valued at $85,579.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder W. R. Jr. Stephens acquired 12,000 shares of Conn’s stock in a transaction on Friday, July 14th. The shares were bought 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. Corporate insiders own 3.48% of the company’s stock.
A number of large investors have recently bought and sold shares of CONN. Bank of Montreal Can acquired a new position in Conn’s during the first quarter worth $875,000. Parametric Portfolio Associates LLC raised its position in shares of Conn’s by 9.2% in the first quarter. Parametric Portfolio Associates LLC now owns 101,198 shares of the specialty retailer’s stock valued at $885,000 after buying an additional 8,529 shares during the last quarter. Hodges Capital Management Inc. raised its position in shares of Conn’s by 66.7% in the first quarter. Hodges Capital Management Inc. now owns 50,000 shares of the specialty retailer’s stock valued at $437,000 after buying an additional 20,000 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Conn’s by 10.2% in the first quarter. SG Americas Securities LLC now owns 75,778 shares of the specialty retailer’s stock valued at $663,000 after buying an additional 7,040 shares during the last quarter. Finally, American International Group Inc. raised its position 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 valued at $109,000 after buying an additional 830 shares during the last quarter. Institutional investors own 71.41% 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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