Stifel Nicolaus Reiterates Buy Rating for Conn’s, Inc. (CONN)
Conn’s, Inc. (NASDAQ:CONN)‘s stock had its “buy” rating restated by Stifel Nicolaus in a research report issued to clients and investors on Friday. They presently have a $26.00 price target on the specialty retailer’s stock, up from their previous price target of $20.00. Stifel Nicolaus’ price objective would suggest a potential upside of 19.54% from the stock’s current price.
Other research analysts have also recently issued reports about the company. BidaskClub cut Conn’s from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Zacks Investment Research raised Conn’s from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Tuesday, July 11th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Conn’s in a research note on Tuesday, June 20th. ValuEngine raised Conn’s from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, KeyCorp reissued an “overweight” rating and issued a $22.00 target price on shares of Conn’s in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Conn’s currently has a consensus rating of “Hold” and a consensus target price of $24.00.
Shares of Conn’s (NASDAQ:CONN) opened at 21.75 on Friday. The stock’s market capitalization is $674.53 million. Conn’s has a 52 week low of $7.75 and a 52 week high of $23.75. The company has a 50-day moving average price of $20.44 and a 200 day moving average price of $15.95.
Conn’s (NASDAQ:CONN) last posted its earnings results on Thursday, September 7th. The specialty retailer reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.28. Conn’s had a negative return on equity of 0.72% and a negative net margin of 1.18%. The firm had revenue of $366.65 million during the quarter, compared to analysts’ expectations of $371.97 million. During the same period in the previous year, the firm earned ($0.04) earnings per share. The company’s revenue was down 7.9% on a year-over-year basis. Analysts forecast that Conn’s will post $0.49 earnings per share for the current fiscal year.
In other news, major shareholder W. R. Jr. Stephens acquired 12,000 shares of Conn’s stock in a transaction dated Friday, July 14th. The stock was bought at an average cost of $18.85 per share, with a total value of $226,200.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James H. Haworth sold 7,392 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $19.34, for a total value of $142,961.28. Following the transaction, 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. 3.48% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. State Street Corp boosted its position in shares of Conn’s by 45.9% during 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 period. Royce & Associates LP boosted its position in shares of Conn’s by 3.4% during 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 period. Point72 Asset Management L.P. boosted its position in shares of Conn’s by 77.5% during 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 period. Stephens Inc. AR boosted its position in shares of Conn’s by 85.5% during 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 period. Finally, Luzich Partners LLC boosted its position in shares of Conn’s by 3.8% during 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 period. 71.41% of the stock is owned by institutional investors.
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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