Conn’s, Inc. (CONN) Stock Rating Lowered by BidaskClub
BidaskClub downgraded shares of Conn’s, Inc. (NASDAQ:CONN) from a strong-buy rating to a buy rating in a research report sent to investors on Friday morning.
A number of other analysts also recently commented on CONN. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Conn’s in a research report on Tuesday, June 6th. Zacks Investment Research downgraded Conn’s from a buy rating to a hold rating in a research report on Tuesday, August 8th. Stephens reaffirmed an overweight rating and set a $28.00 price target (up from $25.00) on shares of Conn’s in a research report on Monday, July 17th. ValuEngine raised Conn’s from a sell rating to a hold rating in a research report on Friday, June 2nd. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $20.00 price target (up from $19.00) on shares of Conn’s in a research report on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $22.50.
Shares of Conn’s (NASDAQ:CONN) traded up 0.120% during trading on Friday, reaching $20.825. The company’s stock had a trading volume of 124,609 shares. Conn’s has a 12 month low of $6.55 and a 12 month high of $23.75. The firm’s market cap is $645.85 million. The company’s 50 day moving average price is $20.31 and its 200 day moving average price is $14.80.
Conn’s (NASDAQ:CONN) last issued its quarterly earnings results on Tuesday, June 6th. The specialty retailer reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.17. The company had revenue of $355.80 million during the quarter, compared to the consensus estimate of $357.53 million. Conn’s had a negative return on equity of 0.72% and a negative net margin of 1.18%. Conn’s’s revenue was down 8.6% on a year-over-year basis. During the same period last year, the business posted ($0.31) earnings per share. On average, equities analysts predict that Conn’s will post $0.49 earnings per share for the current year.
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In other news, Director Douglas H. Martin acquired 10,000 shares of Conn’s stock in a transaction on Wednesday, June 7th. The stock was acquired at an average cost of $17.83 per share, with a total value of $178,300.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James H. Haworth sold 7,392 shares of the stock in a transaction on Monday, June 12th. The shares were sold at an average price of $19.34, for a total value of $142,961.28. Following the transaction, the director now directly owns 4,425 shares of the company’s stock, valued at $85,579.50. The disclosure for this sale can be found here. 3.48% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in CONN. Wells Fargo & Company MN raised its position in shares of Conn’s by 2.5% in the second quarter. Wells Fargo & Company MN now owns 16,192 shares of the specialty retailer’s stock valued at $310,000 after buying an additional 400 shares during the period. American International Group Inc. raised its position in shares of Conn’s by 7.1% in the first quarter. American International Group Inc. now owns 12,501 shares of the specialty retailer’s stock valued at $109,000 after buying an additional 830 shares during the period. UBS Group AG raised its position in shares of Conn’s by 1.8% in the first quarter. UBS Group AG now owns 82,122 shares of the specialty retailer’s stock valued at $719,000 after buying an additional 1,431 shares during the period. Geode Capital Management LLC raised its position in shares of Conn’s by 2.5% in the first quarter. Geode Capital Management LLC now owns 191,076 shares of the specialty retailer’s stock valued at $1,671,000 after buying an additional 4,672 shares during the period. Finally, ClariVest Asset Management LLC purchased a new position in shares of Conn’s during the second quarter valued at $114,000. 63.74% of the stock is owned by institutional investors and hedge funds.
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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