Zacks Investment Research Upgrades Conn’s Inc. (CONN) to “Hold”
Conn’s Inc. (NASDAQ:CONN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Conns Inc is a specialty retailer currently operating retail locations in Texas and Louisiana. It sells major home appliances, including refrigerators, freezers, washers, dryers and ranges, and a variety of consumer electronics, including projection, plasma and LCD televisions, camcorders, VCRs, DVD players and home theater products. They also sell home office equipment, lawn and garden products and bedding, and continue to introduce additional product categories for the home to help increase same store sales and to respond to their customers’ product needs. “
CONN has been the subject of a number of other research reports. Stifel Nicolaus upgraded Conn’s from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Wednesday, September 21st. TheStreet cut Conn’s from a “hold” rating to a “sell” rating in a report on Thursday, September 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $25.50.
Conn’s (NASDAQ:CONN) opened at 11.80 on Tuesday. Conn’s has a 12 month low of $6.54 and a 12 month high of $28.00. The stock’s market capitalization is $363.18 million. The stock’s 50 day moving average is $9.91 and its 200-day moving average is $8.85.
Conn’s (NASDAQ:CONN) last issued its earnings results on Thursday, September 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.03. Conn’s had a negative return on equity of 1.16% and a negative net margin of 1.40%. The business earned $398.16 million during the quarter, compared to analysts’ expectations of $413.12 million. During the same quarter in the previous year, the business earned $0.47 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities research analysts expect that Conn’s will post ($0.40) earnings per share for the current year.
In other Conn’s news, major shareholder Harriet C. Stephens bought 22,619 shares of the business’s stock in a transaction on Friday, September 9th. The shares were bought at an average cost of $8.84 per share, with a total value of $199,951.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.60% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Creative Planning raised its position in shares of Conn’s by 3.1% in the third quarter. Creative Planning now owns 10,051 shares of the company’s stock worth $104,000 after buying an additional 300 shares during the last quarter. Laurion Capital Management LP acquired a new position in shares of Conn’s during the third quarter worth about $114,000. BlackRock Advisors LLC raised its position in shares of Conn’s by 12.4% in the third quarter. BlackRock Advisors LLC now owns 11,139 shares of the company’s stock worth $115,000 after buying an additional 1,231 shares during the last quarter. Royal Bank of Canada raised its position in shares of Conn’s by 0.5% in the second quarter. Royal Bank of Canada now owns 19,116 shares of the company’s stock worth $143,000 after buying an additional 94 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Conn’s during the third quarter worth about $154,000. 65.23% 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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