Conn's Inc (CONN) Upgraded to “Buy” at Oppenheimer Holdings, Inc.
Oppenheimer Holdings, Inc. upgraded shares of Conn's Inc (NASDAQ:CONN) from a market perform rating to a buy rating in a research note issued to investors on Friday. Oppenheimer Holdings, Inc. currently has $40.00 target price on the specialty retailer’s stock. Oppenheimer Holdings also issued estimates for Conn's’ Q1 2019 earnings at $0.20 EPS, Q2 2019 earnings at $0.46 EPS, Q3 2019 earnings at $0.34 EPS, Q4 2019 earnings at $0.80 EPS, FY2020 earnings at $2.45 EPS and FY2021 earnings at $3.00 EPS.
Other equities research analysts also recently issued reports about the company. BidaskClub downgraded Conn's from a strong-buy rating to a buy rating in a report on Friday, August 11th. Zacks Investment Research upgraded Conn's from a hold rating to a buy rating and set a $20.00 price target for the company in a report on Tuesday, July 11th. Stifel Nicolaus restated a buy rating and issued a $20.00 price target (up previously from $19.00) on shares of Conn's in a report on Wednesday, June 7th. TheStreet raised shares of Conn's from a d+ rating to a c rating in a research report on Thursday, September 7th. Finally, ValuEngine raised shares of Conn's from a sell rating to a hold rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $28.60.
Conn's (CONN) opened at 27.95 on Friday. The company’s 50-day moving average price is $21.29 and its 200 day moving average price is $17.83. The firm’s market capitalization is $872.21 million. Conn's has a 1-year low of $7.75 and a 1-year high of $28.60.
Conn's (NASDAQ:CONN) last issued its earnings results on Thursday, September 7th. The specialty retailer reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.28. Conn's had a return on equity of 3.29% and a net margin of 1.17%. The company had revenue of $366.65 million during the quarter, compared to the consensus estimate of $371.97 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. The company’s revenue was down 7.9% compared to the same quarter last year. On average, equities analysts anticipate that Conn's will post $0.74 EPS for the current year.
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In other Conn's news, major shareholder W. R. Jr. Stephens purchased 12,000 shares of Conn's stock in a transaction that occurred on Friday, July 14th. The stock was purchased at an average price of $18.85 per share, with a total value of $226,200.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.48% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. ClariVest Asset Management LLC acquired a new position in shares of Conn's in the 2nd quarter valued at approximately $114,000. Voya Investment Management LLC purchased a new position in shares of Conn's during the 2nd quarter valued at approximately $215,000. American International Group Inc. boosted its stake in shares of Conn's by 7.1% during the 1st 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 last quarter. GSA Capital Partners LLP purchased a new position in shares of Conn's during the 2nd quarter valued at approximately $258,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Conn's by 2.5% during the 2nd 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 last quarter. Institutional investors own 70.97% of the company’s stock.
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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