Analysts Set Conn’s Inc. (CONN) PT at $22.33
Conn’s Inc. (NASDAQ:CONN) has earned an average rating of “Hold” from the six ratings firms that are presently covering the company. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $22.33.
Several analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Conn’s from a “hold” rating to a “sell” rating in a research note on Tuesday, October 18th. Stifel Nicolaus raised shares of Conn’s from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Wednesday, September 21st. 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) opened at 11.65 on Wednesday. The company’s market cap is $358.56 million. The stock’s 50 day moving average is $9.94 and its 200-day moving average is $8.84. Conn’s has a 52-week low of $6.54 and a 52-week high of $28.00.
Conn’s (NASDAQ:CONN) last posted its quarterly earnings results on Thursday, September 8th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.03. The business earned $398.16 million during 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%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 earnings per share. Equities research analysts predict that Conn’s will post ($0.40) EPS for the current fiscal year.
In other news, major shareholder Harriet C. Stephens acquired 22,619 shares of the firm’s stock in a transaction on Friday, September 9th. The shares were purchased at an average price of $8.84 per share, for a total transaction of $199,951.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.60% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in CONN. Creative Planning boosted 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 valued at $104,000 after buying an additional 300 shares in the last quarter. Laurion Capital Management LP bought a new position in shares of Conn’s during the third quarter valued at about $114,000. BlackRock Advisors LLC boosted 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 valued at $115,000 after buying an additional 1,231 shares in the last quarter. Royal Bank of Canada boosted 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 valued at $143,000 after buying an additional 94 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Conn’s during the third quarter valued at about $154,000. Hedge funds and other institutional investors own 65.23% of the company’s stock.
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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