Conn’s Inc. (CONN) Receives Consensus Recommendation of “Hold” from Brokerages
Conn’s Inc. (NASDAQ:CONN) has received a consensus recommendation of “Hold” from the six research firms that are presently covering the firm. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $22.33.
CONN has been the topic of a number of recent research reports. Stifel Nicolaus raised shares of Conn’s from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Wednesday, September 21st. Zacks Investment Research raised shares of Conn’s from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. Finally, TheStreet downgraded shares of Conn’s from a “hold” rating to a “sell” rating in a research note on Thursday, September 8th.
Conn’s (NASDAQ:CONN) traded up 9.6370% during mid-day trading on Wednesday, hitting $9.8454. 586,761 shares of the stock traded hands. The company’s 50 day moving average is $9.47 and its 200 day moving average is $9.36. Conn’s has a 12 month low of $6.54 and a 12 month high of $28.00. The company’s market cap is $303.02 million.
Conn’s (NASDAQ:CONN) last released its quarterly earnings results on Thursday, September 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.03. The company had revenue of $398.16 million for the quarter, compared to the consensus estimate of $413.12 million. Conn’s had a negative net margin of 1.40% and a negative return on equity of 1.16%. Conn’s’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 earnings per share. On average, analysts expect that Conn’s will post ($0.40) earnings per share for the current fiscal year.
In related news, major shareholder Harriet C. Stephens purchased 22,619 shares of Conn’s stock in a transaction that occurred on Friday, September 9th. The shares were bought at an average price of $8.84 per share, with a total value of $199,951.96. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 3.60% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of CONN. Creative Planning increased its position in Conn’s by 3.1% in the third quarter. Creative Planning now owns 10,051 shares of the company’s stock valued at $104,000 after buying an additional 300 shares in the last quarter. Royal Bank of Canada increased its position in Conn’s by 0.5% in the second quarter. Royal Bank of Canada now owns 19,116 shares of the company’s stock valued at $143,000 after buying an additional 94 shares in the last quarter. KCG Holdings Inc. increased its position in Conn’s by 5.6% in the second quarter. KCG Holdings Inc. now owns 23,433 shares of the company’s stock valued at $176,000 after buying an additional 1,236 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its position in Conn’s by 36.0% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 37,720 shares of the company’s stock valued at $284,000 after buying an additional 9,981 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Conn’s during the second quarter valued at approximately $381,000. 63.59% of the stock is currently owned by institutional investors.
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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