Conn’s, Inc. (CONN) Earns “Buy” Rating from SunTrust Banks, Inc.
Conn’s, Inc. (NASDAQ:CONN)‘s stock had its “buy” rating reaffirmed by equities researchers at SunTrust Banks, Inc. in a report issued on Thursday. They currently have a $33.00 price objective on the specialty retailer’s stock. SunTrust Banks, Inc.’s price objective indicates a potential upside of 19.57% from the stock’s current price. SunTrust Banks also issued estimates for Conn’s’ FY2019 earnings at $1.50 EPS.
CONN has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Conn’s from a “strong-buy” rating to a “hold” rating in a report on Monday, July 3rd. Stifel Nicolaus downgraded shares of Conn’s from a “buy” rating to a “hold” rating and lifted their price target for the company from $26.00 to $30.00 in a report on Monday, October 9th. BidaskClub upgraded shares of Conn’s from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. UBS AG upgraded shares of Conn’s from a “market perform” rating to an “outperform” rating in a report on Friday, September 29th. Finally, Stephens reiterated an “overweight” rating and issued a $28.00 price target (up from $25.00) on shares of Conn’s in a report on Monday, July 17th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $33.33.
Shares of Conn’s (NASDAQ CONN) traded down 1.60% on Thursday, reaching $27.60. 594,097 shares of the company traded hands. Conn’s has a 1-year low of $7.75 and a 1-year high of $28.75. The stock has a 50-day moving average price of $24.44 and a 200 day moving average price of $19.52. The firm’s market capitalization is $861.31 million.
Conn’s (NASDAQ:CONN) last announced its quarterly earnings data on Thursday, September 7th. The specialty retailer reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.28. The firm had revenue of $366.65 million for the quarter, compared to the consensus estimate of $371.97 million. Conn’s had a negative net margin of 0.14% and a positive return on equity of 1.08%. The company’s revenue was down 7.9% on a year-over-year basis. During the same period last year, the firm earned ($0.04) EPS. Analysts anticipate that Conn’s will post $0.74 EPS for the current fiscal year.
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In other Conn’s news, major shareholder Harriet C. Stephens bought 42,000 shares of Conn’s stock in a transaction dated Friday, October 13th. The shares were purchased at an average cost of $25.40 per share, for a total transaction of $1,066,800.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Harriet C. Stephens bought 23,000 shares of Conn’s stock in a transaction dated Monday, October 16th. The stock was acquired at an average price of $25.50 per share, for a total transaction of $586,500.00. The disclosure for this purchase can be found here. Insiders own 3.48% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. American International Group Inc. increased its holdings in shares of Conn’s by 7.1% in the 1st 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 last quarter. ClariVest Asset Management LLC bought a new stake in shares of Conn’s in the 2nd quarter worth about $114,000. Voya Investment Management LLC bought a new stake in shares of Conn’s in the 2nd quarter worth about $215,000. GSA Capital Partners LLP bought a new stake in shares of Conn’s in the 2nd quarter worth about $258,000. Finally, Wells Fargo & Company MN increased its holdings in shares of Conn’s by 2.5% in the 2nd 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 last quarter. Hedge funds and other institutional investors own 70.97% 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.
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