Conn’s, Inc. (CONN) Given “Hold” Rating at Oppenheimer Holdings, Inc.
Conn’s, Inc. (NASDAQ:CONN)‘s stock had its “hold” rating reaffirmed by research analysts at Oppenheimer Holdings, Inc. in a report released on Thursday. Oppenheimer Holdings also issued estimates for Conn’s’ Q3 2018 earnings at ($0.11) EPS, Q4 2018 earnings at $0.12 EPS, FY2018 earnings at $0.22 EPS and FY2019 earnings at $0.40 EPS.
Other equities research analysts have also recently issued research reports about the company. TheStreet upgraded Conn’s from a “d+” rating to a “c” rating in a report on Thursday, September 7th. KeyCorp restated an “overweight” rating and set a $22.00 price objective on shares of Conn’s in a report on Tuesday, September 5th. BidaskClub cut Conn’s from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Zacks Investment Research upgraded Conn’s from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Tuesday, July 11th. Finally, Stifel Nicolaus restated a “buy” rating and set a $26.00 price objective (up previously from $20.00) on shares of Conn’s in a report on Friday, September 8th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Conn’s presently has a consensus rating of “Buy” and an average target price of $25.75.
Conn’s (CONN) traded down 2.84% during trading on Thursday, reaching $22.25. The company’s stock had a trading volume of 583,811 shares. Conn’s has a 52-week low of $7.75 and a 52-week high of $24.10. The stock’s market cap is $694.33 million. The firm’s 50-day moving average is $20.53 and its 200-day moving average is $16.28.
Conn’s (NASDAQ:CONN) last posted its quarterly earnings results on Thursday, September 7th. The specialty retailer reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.28. Conn’s had a positive return on equity of 1.08% and a negative net margin of 0.14%. The business had revenue of $366.65 million during the quarter, compared to analysts’ expectations of $371.97 million. During the same quarter last year, the company posted ($0.04) earnings per share. Conn’s’s quarterly revenue was down 7.9% on a year-over-year basis. Equities research analysts forecast that Conn’s will post $0.65 EPS for the current 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 price of $18.85 per share, for a total transaction of $226,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.48% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. raised its position 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 valued at $3,500,000 after buying an additional 174,600 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Conn’s in the second quarter valued at approximately $2,202,000. Bank of Montreal Can acquired a new stake in shares of Conn’s in the first quarter valued at approximately $875,000. Stephens Inc. AR raised its position 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 valued at $3,293,000 after buying an additional 173,416 shares in the last quarter. Finally, UBS Group AG raised its position in shares of Conn’s by 1.8% in the first quarter. UBS Group AG now owns 82,122 shares of the specialty retailer’s stock valued at $719,000 after buying an additional 1,431 shares in the last quarter. Institutional investors own 71.41% of the company’s stock.
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.