Conn’s, Inc. (CONN) Rating Reiterated by KeyCorp
Conn’s, Inc. (NASDAQ:CONN)‘s stock had its “buy” rating reissued by equities research analysts at KeyCorp in a research note issued to investors on Wednesday. They currently have a $42.00 price target on the specialty retailer’s stock, up from their previous price target of $24.00. KeyCorp’s target price would suggest a potential upside of 64.71% from the stock’s previous close.
Other analysts have also issued reports about the stock. TheStreet upgraded shares of Conn’s from a “d+” rating to a “c” rating in a research report on Thursday, September 7th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Conn’s in a research report on Thursday, September 14th. BidaskClub lowered shares of Conn’s from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Zacks Investment Research upgraded shares of Conn’s from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Tuesday, July 11th. Finally, Stephens restated an “overweight” rating and issued a $28.00 price target (up from $25.00) on shares of Conn’s in a research report on Monday, July 17th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $33.40.
Conn’s (NASDAQ CONN) opened at 25.50 on Wednesday. The stock’s 50 day moving average is $23.32 and its 200 day moving average is $19.02. The company’s market cap is $795.75 million. Conn’s has a 12 month low of $7.75 and a 12 month high of $28.60.
Conn’s (NASDAQ:CONN) last posted its quarterly earnings results on Thursday, September 7th. The specialty retailer reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.28. The company had revenue of $366.65 million for the quarter, compared to analyst estimates of $371.97 million. Conn’s had a negative net margin of 0.14% and a positive return on equity of 1.08%. The business’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period last year, the business posted ($0.04) EPS. Equities analysts predict that Conn’s will post $0.77 earnings per share for the current year.
In other news, major shareholder Harriet C. Stephens purchased 42,000 shares of Conn’s stock in a transaction on Friday, October 13th. The shares were purchased at an average cost of $25.40 per share, for a total transaction of $1,066,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.48% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. State Street Corp boosted its position in Conn’s by 45.9% in the second quarter. State Street Corp now owns 566,793 shares of the specialty retailer’s stock valued at $10,828,000 after buying an additional 178,277 shares in the last quarter. Royce & Associates LP boosted its position in Conn’s by 3.4% in the second quarter. Royce & Associates LP now owns 429,411 shares of the specialty retailer’s stock valued at $8,202,000 after buying an additional 14,075 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Conn’s by 77.5% in the first quarter. Point72 Asset Management L.P. now owns 400,000 shares of the specialty retailer’s stock valued at $3,500,000 after buying an additional 174,600 shares in the last quarter. Luzich Partners LLC boosted its position in Conn’s by 3.8% in the second quarter. Luzich Partners LLC now owns 305,822 shares of the specialty retailer’s stock valued at $5,841,000 after buying an additional 11,210 shares in the last quarter. Finally, Northpointe Capital LLC acquired a new position in Conn’s in the second quarter valued at about $5,052,000. Hedge funds and other institutional investors own 70.97% 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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