Jefferies Financial Group assumed coverage on shares of Conn’s (NASDAQ:CONN) in a research report released on Thursday morning, Marketbeat reports. The firm issued a buy rating and a $44.00 price objective on the specialty retailer’s stock.
Several other equities research analysts have also recently issued reports on the company. Zacks Investment Research cut Conn’s from a buy rating to a hold rating in a report on Tuesday, August 14th. ValuEngine cut Conn’s from a buy rating to a hold rating in a report on Thursday, August 2nd. BidaskClub cut Conn’s from a buy rating to a hold rating in a report on Wednesday, July 25th. Stifel Nicolaus upgraded Conn’s from a hold rating to a buy rating and lifted their target price for the company from $35.00 to $45.00 in a report on Tuesday, July 10th. Finally, KeyCorp lifted their target price on Conn’s from $42.00 to $45.00 and gave the company an overweight rating in a report on Tuesday, July 10th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $40.94.
CONN stock opened at $34.55 on Thursday. Conn’s has a 52-week low of $16.55 and a 52-week high of $38.55. The company has a debt-to-equity ratio of 1.69, a quick ratio of 4.08 and a current ratio of 5.06. The firm has a market cap of $1.09 billion, a PE ratio of 36.37, a price-to-earnings-growth ratio of 0.67 and a beta of 1.49.
Conn’s (NASDAQ:CONN) last posted its quarterly earnings data on Monday, June 4th. The specialty retailer reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.13. Conn’s had a return on equity of 8.37% and a net margin of 1.43%. The business had revenue of $358.40 million for the quarter, compared to analysts’ expectations of $355.10 million. During the same quarter last year, the firm earned ($0.05) earnings per share. The business’s revenue was up .7% on a year-over-year basis. equities research analysts predict that Conn’s will post 2.24 EPS for the current fiscal year.
In other Conn’s news, Director Bob L. Martin sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, July 18th. The stock was sold at an average price of $37.50, for a total value of $300,000.00. Following the transaction, the director now directly owns 49,265 shares of the company’s stock, valued at $1,847,437.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd Renaud sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $36.75, for a total value of $36,750.00. The disclosure for this sale can be found here. Insiders sold 15,000 shares of company stock worth $563,190 in the last quarter. 3.34% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its position in Conn’s by 24,061.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,141 shares of the specialty retailer’s stock valued at $104,000 after purchasing an additional 3,128 shares during the period. NumerixS Investment Technologies Inc raised its position in Conn’s by 1,900.0% in the second quarter. NumerixS Investment Technologies Inc now owns 4,000 shares of the specialty retailer’s stock valued at $131,000 after purchasing an additional 3,800 shares during the period. Two Sigma Investments LP purchased a new position in Conn’s in the fourth quarter valued at about $229,000. Cypress Capital Management LLC WY purchased a new position in Conn’s in the first quarter valued at about $252,000. Finally, Guggenheim Capital LLC purchased a new position in Conn’s in the first quarter valued at about $255,000. 68.34% of the stock is currently owned by institutional investors.
Conn’s Company Profile
Conn's, Inc operates as a specialty retailer of durable consumer goods and related services in the United States. The company operates through two segments, Retail and Credit. Its stores provide furniture and mattress, including furniture and related accessories for the living room, dining room, and bedroom, as well as traditional and specialty mattresses; home appliances, such as refrigerators, freezers, washers, dryers, dishwashers, and ranges; consumer electronics comprising televisions, Blu-ray players, home theaters, and portable audio equipment; and home office products consisting of computers, printers, and accessories.
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