Conn's (CONN) Lowered to “Hold” at BidaskClub

Conn's (NASDAQ:CONN) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report issued on Thursday.

Several other brokerages have also commented on CONN. KeyCorp reaffirmed an “overweight” rating and issued a $42.00 price objective (up previously from $24.00) on shares of Conn's in a research report on Wednesday, October 18th. Zacks Investment Research lowered shares of Conn's from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Oppenheimer reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Conn's in a research report on Thursday, December 7th. Stephens lifted their price objective on shares of Conn's from $39.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, December 14th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Conn's in a research report on Thursday, October 19th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Conn's has a consensus rating of “Buy” and an average target price of $37.50.

Conn's (CONN) traded up $0.80 during trading on Thursday, reaching $31.15. Conn's has a 12-month low of $7.75 and a 12-month high of $37.80. The company has a market cap of $977.19, a PE ratio of 311.50, a price-to-earnings-growth ratio of 0.56 and a beta of 1.83. The company has a debt-to-equity ratio of 1.84, a quick ratio of 3.04 and a current ratio of 3.94.

Conn's (NASDAQ:CONN) last announced its quarterly earnings data on Thursday, December 7th. The specialty retailer reported $0.18 EPS for the quarter, topping the consensus estimate of $0.04 by $0.14. The business had revenue of $373.20 million for the quarter, compared to analyst estimates of $372.40 million. Conn's had a net margin of 0.21% and a return on equity of 2.64%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. equities analysts expect that Conn's will post 0.88 earnings per share for the current fiscal year.

In other news, major shareholder Anchorage Capital Group, L.L.C sold 1,600,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $34.05, for a total value of $54,480,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David Schofman purchased 1,000 shares of the stock in a transaction dated Monday, December 11th. The stock was acquired at an average cost of $32.20 per share, for a total transaction of $32,200.00. Following the transaction, the director now owns 20,384 shares of the company’s stock, valued at $656,364.80. The disclosure for this purchase can be found here. Insiders own 3.48% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Conn's by 0.6% in the fourth quarter. BlackRock Inc. now owns 1,378,664 shares of the specialty retailer’s stock valued at $49,011,000 after purchasing an additional 8,754 shares during the period. State Street Corp raised its position in shares of Conn's by 45.9% in the second quarter. State Street Corp now owns 566,793 shares of the specialty retailer’s stock valued at $10,828,000 after purchasing an additional 178,277 shares during the period. Russell Investments Group Ltd. raised its position in shares of Conn's by 269.9% in the third quarter. Russell Investments Group Ltd. now owns 426,473 shares of the specialty retailer’s stock valued at $12,005,000 after purchasing an additional 311,178 shares during the period. Luzich Partners LLC raised its position in shares of Conn's by 3.3% in the third quarter. Luzich Partners LLC now owns 315,822 shares of the specialty retailer’s stock valued at $8,890,000 after purchasing an additional 10,000 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Conn's in the fourth quarter valued at approximately $9,452,000. 71.09% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: This article was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another publication, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this article can be viewed at https://www.americanbankingnews.com/2018/02/11/conns-conn-lowered-to-hold-at-bidaskclub.html.

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.

Analyst Recommendations for Conn's (NASDAQ:CONN)

Receive News & Ratings for Conn's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conn's and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply