Conn’s Inc. (CONN) Sees Large Volume Increase
Conn’s Inc. (NASDAQ:CONN) saw unusually-strong trading volume on Tuesday . Approximately 608,146 shares traded hands during mid-day trading, a decline of 5% from the previous session’s volume of 642,588 shares.The stock last traded at $7.54 and had previously closed at $7.15.
Several analysts recently issued reports on CONN shares. Stephens upgraded shares of Conn’s from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $27.00 to $29.00 in a report on Tuesday, March 15th. SunTrust Banks Inc. reduced their price objective on shares of Conn’s from $28.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, March 30th. Finally, Piper Jaffray Cos. lowered shares of Conn’s from an “overweight” rating to a “neutral” rating in a report on Friday, June 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $34.00.
The company has a market capitalization of $230.54 million and a price-to-earnings ratio of 48.45. The company has a 50-day moving average price of $8.52 and a 200 day moving average price of $13.24.
Conn’s (NASDAQ:CONN) last posted its quarterly earnings data on Thursday, June 2nd. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by $0.37. The company earned $319.04 million during the quarter, compared to analyst estimates of $393.16 million. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. On average, analysts predict that Conn’s Inc. will post ($0.14) EPS for the current year.
In other Conn’s news, Director William E. Saunders, Jr. bought 10,000 shares of Conn’s stock in a transaction that occurred on Friday, June 24th. The shares were purchased at an average cost of $7.60 per share, for a total transaction of $76,000.00. Following the completion of the transaction, the director now owns 20,227 shares of the company’s stock, valued at approximately $153,725.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Luxor Capital Group, Lp sold 1,067,225 shares of the stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $8.86, for a total value of $9,455,613.50. The disclosure for this sale can be found here.
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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