Conn’s, Inc. (CONN) Given “Hold” Rating at Oppenheimer Holdings, Inc.
Oppenheimer Holdings, Inc. reaffirmed their hold rating on shares of Conn’s, Inc. (NASDAQ:CONN) in a research report released on Friday. Oppenheimer Holdings also issued estimates for Conn’s’ Q3 2018 earnings at ($0.11) EPS, Q4 2018 earnings at $0.12 EPS, FY2018 earnings at $0.22 EPS and FY2019 earnings at $0.40 EPS.
A number of other equities research analysts have also recently commented on the stock. Stifel Nicolaus reissued a buy rating and set a $26.00 target price (up previously from $20.00) on shares of Conn’s in a research report on Friday. KeyCorp reissued an overweight rating and set a $22.00 target price on shares of Conn’s in a research report on Tuesday, September 5th. BidaskClub cut shares of Conn’s from a buy rating to a hold rating in a research report on Friday, August 18th. Zacks Investment Research cut shares of Conn’s from a buy rating to a hold rating in a research report on Tuesday, August 8th. Finally, Stephens reissued an overweight rating and set a $28.00 target price (up previously from $25.00) on shares of Conn’s in a research report on Monday, July 17th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Conn’s currently has a consensus rating of Hold and an average price target of $24.00.
Conn’s (NASDAQ CONN) opened at 23.45 on Friday. The company has a 50-day moving average of $20.42 and a 200-day moving average of $16.13. The stock’s market capitalization is $727.25 million. Conn’s has a one year low of $7.75 and a one year high of $23.75.
Conn’s (NASDAQ:CONN) last posted its earnings results on Thursday, September 7th. The specialty retailer reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.28. Conn’s had a negative net margin of 0.14% and a positive return on equity of 1.08%. The company had revenue of $366.65 million during the quarter, compared to analysts’ expectations of $371.97 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. Conn’s’s revenue for the quarter was down 7.9% compared to the same quarter last year. On average, equities analysts forecast that Conn’s will post $0.65 EPS for the current fiscal year.
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In related news, major shareholder W. R. Jr. Stephens purchased 12,000 shares of the firm’s stock in a transaction on Friday, July 14th. The stock was acquired at an average price of $18.85 per share, with a total value of $226,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.48% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. ClariVest Asset Management LLC purchased a new position in shares of Conn’s in the second quarter worth $114,000. Voya Investment Management LLC purchased a new position in shares of Conn’s in the second quarter worth $215,000. American International Group Inc. raised its holdings 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 worth $109,000 after buying an additional 830 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Conn’s in the second quarter worth $258,000. Finally, Wells Fargo & Company MN raised its holdings 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 worth $310,000 after buying an additional 400 shares during the last quarter. 71.41% 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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