Conn’s, Inc. (CONN) Raised to Strong-Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Conn’s, Inc. (NASDAQ:CONN) from a hold rating to a strong-buy rating in a report issued on Wednesday morning. Zacks Investment Research currently has $27.00 target price on the specialty retailer’s stock.
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. “
Other equities research analysts have also issued research reports about the stock. BidaskClub lowered shares of Conn’s from a strong-buy rating to a buy rating in a report on Friday, August 11th. Stifel Nicolaus restated a buy rating and issued a $20.00 target price (up previously from $19.00) on shares of Conn’s in a report on Wednesday, June 7th. TheStreet upgraded shares of Conn’s from a d+ rating to a c rating in a report on Thursday, September 7th. Oppenheimer Holdings, Inc. restated a hold rating on shares of Conn’s in a report on Tuesday, June 20th. Finally, ValuEngine upgraded shares of Conn’s from a sell rating to a hold rating in a report on Friday, June 2nd. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $25.75.
Shares of Conn’s (NASDAQ CONN) traded down 0.90% during trading on Wednesday, hitting $22.05. The stock had a trading volume of 801,347 shares. Conn’s has a 1-year low of $7.75 and a 1-year high of $24.10. The firm has a 50-day moving average of $20.53 and a 200 day moving average of $16.46. The company’s market capitalization is $688.09 million.
Conn’s (NASDAQ:CONN) last posted its earnings results on Thursday, September 7th. The specialty retailer reported $0.26 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $371.97 million. During the same quarter in the prior year, the business posted ($0.04) EPS. The firm’s revenue was down 7.9% compared to the same quarter last year. Equities research analysts predict that Conn’s will post $0.65 earnings per share for the current fiscal year.
In other news, major shareholder W. R. Jr. Stephens acquired 12,000 shares of the firm’s stock in a transaction on Friday, July 14th. The stock was purchased at an average price of $18.85 per share, for a total transaction of $226,200.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.48% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new position in shares of Conn’s during the 2nd quarter valued at approximately $468,000. Sterling Capital Management LLC bought a new position in shares of Conn’s during the 2nd quarter valued at approximately $868,000. Luzich Partners LLC grew its position in shares of Conn’s by 3.8% during the 2nd quarter. Luzich Partners LLC now owns 305,822 shares of the specialty retailer’s stock valued at $5,841,000 after acquiring an additional 11,210 shares during the period. State Street Corp grew its position in shares of Conn’s by 45.9% during the 2nd quarter. State Street Corp now owns 566,793 shares of the specialty retailer’s stock valued at $10,828,000 after acquiring an additional 178,277 shares during the period. Finally, PDT Partners LLC grew its position in shares of Conn’s by 12.9% during the 2nd quarter. PDT Partners LLC now owns 92,200 shares of the specialty retailer’s stock valued at $1,761,000 after acquiring an additional 10,500 shares during the period. 71.41% of the stock is owned by hedge funds and other institutional investors.
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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