Conn’s Inc. (CONN) Upgraded to “Buy” by Stifel Nicolaus
Stifel Nicolaus upgraded shares of Conn’s Inc. (NASDAQ:CONN) from a hold rating to a buy rating in a research report report published on Wednesday morning. The brokerage currently has $16.00 target price on the stock.
Several other equities analysts also recently issued reports on the company. Zacks Investment Research upgraded Conn’s from a sell rating to a hold rating in a research report on Tuesday, September 13th. TheStreet cut Conn’s from a hold rating to a sell rating in a report on Thursday, September 8th. Finally, Piper Jaffray Cos. cut Conn’s from an overweight rating to a neutral rating in a report on Friday, June 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $25.50.
Shares of Conn’s (NASDAQ:CONN) traded up 1.60% during mid-day trading on Wednesday, hitting $12.07. The company had a trading volume of 137,153 shares. Conn’s has a 52-week low of $6.54 and a 52-week high of $28.00. The stock’s market cap is $371.49 million. The stock’s 50-day moving average is $7.67 and its 200-day moving average is $10.16.
Conn’s (NASDAQ:CONN) last issued its quarterly earnings data on Thursday, September 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.03. The business earned $398.16 million during the quarter, compared to the consensus estimate of $413.12 million. Conn’s had a negative return on equity of 1.16% and a negative net margin of 1.40%. The business’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 earnings per share. Equities analysts forecast that Conn’s will post ($0.40) earnings per share for the current year.
In related news, major shareholder Harriet C. Stephens purchased 22,619 shares of the company’s stock in a transaction on Friday, September 9th. The shares were bought at an average price of $8.84 per share, with a total value of $199,951.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder A Stephens Grantors Tru Warren purchased 285,000 shares of the company’s stock in a transaction on Friday, July 15th. The stock was bought at an average cost of $7.10 per share, for a total transaction of $2,023,500.00. Following the acquisition, the insider now directly owns 385,350 shares of the company’s stock, valued at approximately $2,735,985. The disclosure for this purchase can be found here. 3.60% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of CONN. State Street Corp boosted its position in Conn’s by 14.6% in the first quarter. State Street Corp now owns 817,435 shares of the company’s stock valued at $10,187,000 after buying an additional 103,945 shares in the last quarter. Pacific Global Investment Management CO boosted its position in Conn’s by 11.1% in the second quarter. Pacific Global Investment Management CO now owns 520,190 shares of the company’s stock valued at $3,912,000 after buying an additional 51,945 shares in the last quarter. Raymond James & Associates boosted its position in Conn’s by 63.1% in the second quarter. Raymond James & Associates now owns 226,405 shares of the company’s stock valued at $1,703,000 after buying an additional 87,624 shares in the last quarter. Geode Capital Management LLC boosted its position in Conn’s by 9.9% in the first quarter. Geode Capital Management LLC now owns 184,259 shares of the company’s stock valued at $2,295,000 after buying an additional 16,570 shares in the last quarter. Finally, A.R.T. Advisors LLC boosted its position in Conn’s by 533.6% in the first quarter. A.R.T. Advisors LLC now owns 129,429 shares of the company’s stock valued at $1,612,000 after buying an additional 109,000 shares in the last quarter. 63.66% of the stock is currently owned by institutional investors.
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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