According to Zacks, “Conns Inc is a specialty retailer currently operating retail locations in Texas and Louisiana. It sells major home appliances, including refrigerators, freezers, washers, dryers and ranges, and a variety of consumer electronics, including projection, plasma and LCD televisions, camcorders, VCRs, DVD players and home theater products. They also sell home office equipment, lawn and garden products and bedding, and continue to introduce additional product categories for the home to help increase same store sales and to respond to their customers’ product needs. “
CONN has been the subject of a number of other reports. Stifel Nicolaus upgraded Conn’s from a hold rating to a buy rating and set a $16.00 price target for the company in a report on Wednesday, September 21st. TheStreet cut Conn’s from a hold rating to a sell rating in a research report on Thursday, September 8th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $25.50.
Shares of Conn’s (NASDAQ:CONN) opened at 8.98 on Tuesday. The company’s 50 day moving average is $9.47 and its 200-day moving average is $9.36. Conn’s has a 52 week low of $6.54 and a 52 week high of $28.00. The company’s market capitalization is $276.39 million.
Conn’s (NASDAQ:CONN) last issued its quarterly earnings results on Thursday, September 8th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. Conn’s had a negative return on equity of 1.16% and a negative net margin of 1.40%. The company earned $398.16 million during the quarter, compared to analyst estimates of $413.12 million. During the same period in the previous year, the company earned $0.47 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. On average, analysts expect that Conn’s will post ($0.40) EPS for the current fiscal year.
In related news, major shareholder Harriet C. Stephens purchased 22,619 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was purchased at an average cost of $8.84 per share, for a total transaction of $199,951.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.60% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its stake in Conn’s by 63.1% in the second quarter. Raymond James & Associates now owns 226,405 shares of the company’s stock worth $1,703,000 after buying an additional 87,624 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Conn’s by 117.7% in the second quarter. Alliancebernstein L.P. now owns 52,530 shares of the company’s stock worth $395,000 after buying an additional 28,400 shares during the last quarter. BlackRock Investment Management LLC boosted its stake in Conn’s by 5.7% in the second quarter. BlackRock Investment Management LLC now owns 95,910 shares of the company’s stock worth $721,000 after buying an additional 5,183 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Conn’s during the second quarter worth about $381,000. Finally, Stephens Inc. AR boosted its stake in Conn’s by 401.6% in the second quarter. Stephens Inc. AR now owns 54,956 shares of the company’s stock worth $413,000 after buying an additional 44,000 shares during the last quarter. 63.59% of the stock is owned by institutional investors.
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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