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.
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.
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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