Conn’s Inc. (CONN) Trading Down 1.8%
Conn’s Inc. (NASDAQ:CONN)’s share price fell 1.8% on Friday . The stock traded as low as $7.00 and last traded at $7.11, with a volume of 458,225 shares changing hands. The stock had previously closed at $7.24.
Several brokerages have recently weighed in on CONN. Piper Jaffray Cos. restated a “buy” rating on shares of Conn’s in a report on Thursday, March 31st. SunTrust Banks Inc. decreased their price objective on Conn’s from $28.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, March 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Conn’s currently has a consensus rating of “Hold” and a consensus target price of $34.00.
The company has a 50-day moving average price of $7.74 and a 200-day moving average price of $12.55. The firm has a market capitalization of $218.26 million and a price-to-earnings ratio of 45.87.
Conn’s (NASDAQ:CONN) last released its earnings results on Thursday, June 2nd. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by $0.37. The company had revenue of $319.04 million for the quarter, compared to analyst estimates of $393.16 million. During the same quarter last year, the firm posted $0.44 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities analysts forecast that Conn’s Inc. will post ($0.14) EPS for the current fiscal year.
In related news, Director William E. Saunders, Jr. acquired 10,000 shares of the company’s stock in a transaction dated Friday, June 24th. The shares were purchased at an average price of $7.60 per share, for a total transaction of $76,000.00. Following the completion of the acquisition, the director now owns 20,227 shares of the company’s stock, valued at $153,725.20. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Luxor Capital Group, Lp sold 1,067,225 shares of the company’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $8.86, for a total transaction 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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