Oppenheimer Holdings, Inc. restated their buy rating on shares of Conn’s, Inc. (NASDAQ:CONN) in a research note released on Tuesday morning.
Several other analysts also recently weighed in on the stock. TheStreet raised shares of Conn’s from a d+ rating to a c rating in a research note on Thursday, September 7th. KeyCorp reaffirmed an overweight rating and issued a $42.00 price target (up from $24.00) on shares of Conn’s in a report on Wednesday, October 18th. BidaskClub lowered shares of Conn’s from a buy rating to a hold rating in a report on Friday, August 18th. Zacks Investment Research raised shares of Conn’s from a hold rating to a buy rating and set a $20.00 price target on the stock in a report on Tuesday, July 11th. Finally, Stephens reaffirmed an overweight rating and issued a $28.00 price target (up from $25.00) on shares of Conn’s in a report on Monday, July 17th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $33.33.
Shares of Conn’s (NASDAQ:CONN) traded down 1.10% during midday trading on Tuesday, reaching $31.35. The company’s stock had a trading volume of 279,165 shares. The company’s 50-day moving average price is $25.21 and its 200-day moving average price is $19.99. Conn’s has a 12 month low of $7.75 and a 12 month high of $32.90. The company’s market cap is $978.31 million.
Conn’s (NASDAQ:CONN) last announced its quarterly earnings data on Thursday, September 7th. The specialty retailer reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.28. The business had revenue of $366.65 million during the quarter, compared to the consensus estimate of $371.97 million. Conn’s had a negative net margin of 0.14% and a positive return on equity of 1.08%. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.04) earnings per share. On average, equities analysts anticipate that Conn’s will post $0.73 EPS for the current fiscal year.
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In other Conn’s news, major shareholder Harriet C. Stephens bought 42,000 shares of Conn’s stock in a transaction on Friday, October 13th. The shares were bought at an average cost of $25.40 per share, for a total transaction of $1,066,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Harriet C. Stephens bought 23,000 shares of Conn’s stock in a transaction on Monday, October 16th. The shares were acquired at an average price of $25.50 per share, for a total transaction of $586,500.00. The disclosure for this purchase can be found here. Corporate insiders own 3.48% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in CONN. American International Group Inc. grew its position in shares of Conn’s by 7.1% in 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. ClariVest Asset Management LLC purchased a new position in shares of Conn’s in the 2nd quarter valued at $114,000. Voya Investment Management LLC purchased a new position in shares of Conn’s in the 2nd quarter valued at $215,000. GSA Capital Partners LLP purchased a new position in shares of Conn’s in the 2nd quarter valued at $258,000. Finally, Wells Fargo & Company MN grew its position in shares of Conn’s by 2.5% in 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 and hedge funds own 70.76% 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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