Conn's’ (CONN) Buy Rating Reaffirmed at Oppenheimer
Conn's (NASDAQ:CONN)‘s stock had its “buy” rating reiterated by equities researchers at Oppenheimer in a research note issued on Wednesday. Oppenheimer also issued estimates for Conn's’ Q4 2018 earnings at $0.55 EPS, Q1 2019 earnings at $0.25 EPS, Q3 2019 earnings at $0.45 EPS, Q4 2019 earnings at $0.79 EPS, FY2019 earnings at $1.95 EPS and FY2020 earnings at $2.50 EPS.
Other research analysts also recently issued reports about the company. TheStreet upgraded Conn's from a “d+” rating to a “c” rating in a research note on Thursday, September 7th. BidaskClub upgraded Conn's from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. Zacks Investment Research upgraded Conn's from a “hold” rating to a “strong-buy” rating and set a $36.00 target price for the company in a research note on Tuesday. KeyCorp reiterated an “overweight” rating and set a $22.00 target price on shares of Conn's in a research note on Tuesday, September 5th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $26.00 price target (up from $20.00) on shares of Conn's in a research note on Friday, September 8th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $34.83.
Shares of Conn's (CONN) traded up $0.30 during midday trading on Wednesday, hitting $31.70. The stock had a trading volume of 589,400 shares, compared to its average volume of 595,882. The company has a debt-to-equity ratio of 1.84, a current ratio of 3.94 and a quick ratio of 3.04. Conn's has a one year low of $7.75 and a one year high of $37.80. The company has a market cap of $985.04, a P/E ratio of 71.36, a P/E/G ratio of 1.55 and a beta of 1.86.
In other news, major shareholder Harriet C. Stephens purchased 23,000 shares of Conn's stock in a transaction that occurred on Monday, October 16th. The stock was acquired at an average cost of $25.50 per share, for a total transaction of $586,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Harriet C. Stephens purchased 42,000 shares of Conn's stock in a transaction that occurred on Friday, October 13th. The stock was purchased at an average price of $25.40 per share, with a total value of $1,066,800.00. The disclosure for this purchase can be found here. Insiders own 3.48% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada raised its holdings in Conn's by 0.5% in the 2nd quarter. Royal Bank of Canada now owns 19,116 shares of the specialty retailer’s stock valued at $143,000 after acquiring an additional 94 shares in the last quarter. Creative Planning raised its holdings in Conn's by 3.1% in the 3rd quarter. Creative Planning now owns 10,051 shares of the specialty retailer’s stock valued at $104,000 after acquiring an additional 300 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Conn's by 2.5% in the 2nd quarter. Wells Fargo & Company MN now owns 16,192 shares of the specialty retailer’s stock valued at $310,000 after acquiring an additional 400 shares in the last quarter. American International Group Inc. raised its holdings in Conn's by 7.1% in the 1st quarter. American International Group Inc. now owns 12,501 shares of the specialty retailer’s stock valued at $109,000 after acquiring an additional 830 shares in the last quarter. Finally, UBS Group AG raised its holdings in Conn's by 1.8% in the 1st quarter. UBS Group AG now owns 82,122 shares of the specialty retailer’s stock valued at $719,000 after acquiring an additional 1,431 shares in the last quarter. 71.94% of the stock is owned by hedge funds and other institutional investors.
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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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