Conn’s Inc (NASDAQ:CONN)‘s stock had its “buy” rating restated by research analysts at SunTrust Banks, Inc. in a report released on Thursday, October 19th. They presently have a $33.00 price objective on the specialty retailer’s stock. SunTrust Banks, Inc.’s target price would indicate a potential upside of 5.26% from the stock’s previous close. SunTrust Banks also issued estimates for Conn’s’ FY2019 earnings at $1.50 EPS.
CONN has been the subject of several other research reports. BidaskClub downgraded shares of Conn’s from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. UBS AG upgraded shares of Conn’s from a “market perform” rating to an “outperform” rating in a research note on Friday, September 29th. Stifel Nicolaus reiterated a “buy” rating and set a $26.00 target price (up previously from $20.00) on shares of Conn’s in a research note on Friday, September 8th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Conn’s in a research note on Thursday, September 14th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $42.00 target price (up from $24.00) on shares of Conn’s in a report on Wednesday, October 18th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $33.33.
Shares of Conn’s (NASDAQ CONN) traded down 1.10% on Thursday, reaching $31.35. The company’s stock had a trading volume of 279,165 shares. The stock has a 50-day moving average of $25.83 and a 200 day moving average of $20.21. Conn’s has a 52-week low of $7.75 and a 52-week high of $32.90. The company’s market cap is $978.31 million.
Conn’s (NASDAQ:CONN) last released its quarterly earnings results on Thursday, September 7th. The specialty retailer reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.28. The firm had revenue of $366.65 million for the quarter, compared to analyst estimates of $371.97 million. Conn’s had a net margin of 1.17% and a return on equity of 3.29%. The business’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.04) EPS. On average, equities research analysts forecast that Conn’s will post $0.73 earnings per share for the current year.
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In related news, major shareholder Harriet C. Stephens purchased 42,000 shares of the business’s stock in a transaction on Friday, October 13th. The shares were bought at an average price of $25.40 per share, with a total value of $1,066,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Harriet C. Stephens purchased 23,000 shares of the business’s stock in a transaction on Monday, October 16th. The shares were bought at an average cost of $25.50 per share, for a total transaction of $586,500.00. The disclosure for this purchase can be found here. 3.48% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN raised its stake 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 acquiring an additional 400 shares during the period. American International Group Inc. lifted its position in 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 purchasing an additional 830 shares during the last quarter. UBS Group AG raised its position in shares of Conn’s by 1.8% during the 1st quarter. UBS Group AG now owns 82,122 shares of the specialty retailer’s stock worth $719,000 after buying an additional 1,431 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Conn’s by 2.5% during the 1st quarter. Geode Capital Management LLC now owns 191,076 shares of the specialty retailer’s stock worth $1,671,000 after buying an additional 4,672 shares in the last quarter. Finally, ClariVest Asset Management LLC bought a new stake in shares of Conn’s during the 2nd quarter worth about $114,000. 70.76% of the stock is currently owned by institutional investors and hedge funds.
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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