Conn’s, Inc. (NASDAQ:CONN) Cut to Buy at BidaskClub

Conn’s, Inc. (NASDAQ:CONN) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

Several other equities research analysts have also recently commented on the company. Zacks Investment Research cut Conn’s from a “buy” rating to a “hold” rating in a report on Tuesday. Stephens reaffirmed an “overweight” rating and issued a $28.00 price target (up previously from $25.00) on shares of Conn’s in a report on Monday, July 17th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Conn’s in a report on Tuesday, June 20th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 price target (up previously from $19.00) on shares of Conn’s in a report on Wednesday, June 7th. Finally, ValuEngine raised Conn’s from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $22.50.

Shares of Conn’s (NASDAQ:CONN) traded up 3.21% during mid-day trading on Friday, reaching $20.90. The company had a trading volume of 117,321 shares. Conn’s has a 52 week low of $6.55 and a 52 week high of $23.75. The stock has a 50 day moving average of $20.19 and a 200-day moving average of $14.73. The company’s market capitalization is $648.17 million.

Conn’s (NASDAQ:CONN) last announced its earnings results on Tuesday, June 6th. The specialty retailer reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.17. Conn’s had a negative return on equity of 0.72% and a negative net margin of 1.18%. The business had revenue of $355.80 million during the quarter, compared to analysts’ expectations of $357.53 million. During the same quarter in the prior year, the firm earned ($0.31) earnings per share. The business’s revenue was down 8.6% compared to the same quarter last year. On average, analysts expect that Conn’s will post $0.49 earnings per share for the current fiscal year.

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In related news, major shareholder W. R. Jr. Stephens purchased 12,000 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The stock was purchased at an average price of $18.85 per share, with a total value of $226,200.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas H. Martin purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was bought at an average cost of $17.83 per share, with a total value of $178,300.00. The disclosure for this purchase can be found here. 3.48% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of CONN. Royce & Associates LP boosted its stake in Conn’s by 3.4% in the second quarter. Royce & Associates LP now owns 429,411 shares of the specialty retailer’s stock valued at $8,202,000 after buying an additional 14,075 shares during the period. Point72 Asset Management L.P. boosted its stake in Conn’s by 77.5% in the first quarter. Point72 Asset Management L.P. now owns 400,000 shares of the specialty retailer’s stock valued at $3,500,000 after buying an additional 174,600 shares during the period. Stephens Inc. AR boosted its stake in Conn’s by 85.5% in the first quarter. Stephens Inc. AR now owns 376,350 shares of the specialty retailer’s stock valued at $3,293,000 after buying an additional 173,416 shares during the period. Northpointe Capital LLC acquired a new stake in Conn’s during the second quarter valued at about $5,052,000. Finally, Acadian Asset Management LLC acquired a new stake in Conn’s during the second quarter valued at about $4,766,000. 62.58% of the stock is owned by institutional investors.

About Conn’s

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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