Conn’s (NASDAQ:CONN) Upgraded to Hold by ValuEngine

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ValuEngine upgraded shares of Conn’s (NASDAQ:CONN) from a sell rating to a hold rating in a research report released on Wednesday, ValuEngine reports.

CONN has been the topic of a number of other research reports. Stifel Nicolaus restated a buy rating and issued a $31.00 target price (up previously from $28.00) on shares of Conn’s in a research note on Tuesday. Zacks Investment Research upgraded shares of Conn’s from a sell rating to a hold rating in a research note on Tuesday, August 6th. Finally, BidaskClub upgraded shares of Conn’s from a hold rating to a buy rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $33.50.

Shares of Conn’s stock traded up $1.47 during trading on Wednesday, reaching $24.39. The company had a trading volume of 11,833 shares, compared to its average volume of 732,381. The company has a market cap of $754.27 million, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 0.38 and a beta of 2.19. The firm’s fifty day moving average is $19.79 and its 200-day moving average is $21.36. The company has a debt-to-equity ratio of 1.90, a quick ratio of 4.28 and a current ratio of 5.41. Conn’s has a fifty-two week low of $15.40 and a fifty-two week high of $37.70.

Conn’s (NASDAQ:CONN) last issued its earnings results on Tuesday, September 3rd. The specialty retailer reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.11. The business had revenue of $401.10 million for the quarter, compared to analyst estimates of $398.10 million. Conn’s had a net margin of 5.35% and a return on equity of 14.37%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.57 EPS. On average, research analysts anticipate that Conn’s will post 2.74 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tyers Asset Management LLC grew its position in Conn’s by 229.5% in the 2nd quarter. Tyers Asset Management LLC now owns 3,216 shares of the specialty retailer’s stock worth $57,000 after purchasing an additional 2,240 shares during the last quarter. Riverhead Capital Management LLC grew its position in Conn’s by 218.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,500 shares of the specialty retailer’s stock worth $62,000 after purchasing an additional 2,400 shares during the last quarter. Elkfork Partners LLC grew its position in Conn’s by 229.5% in the 2nd quarter. Elkfork Partners LLC now owns 4,422 shares of the specialty retailer’s stock worth $79,000 after purchasing an additional 3,080 shares during the last quarter. Meadow Creek Investment Management LLC grew its position in Conn’s by 229.5% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 5,628 shares of the specialty retailer’s stock worth $100,000 after purchasing an additional 3,920 shares during the last quarter. Finally, Aperio Group LLC bought a new position in shares of Conn’s in the second quarter valued at approximately $115,000. Hedge funds and other institutional investors own 77.23% of the company’s stock.

About Conn’s

Conn's, Inc operates as a specialty retailer of durable consumer goods and related services in the United States. It operates through two segments, Retail and Credit. The company's stores offer furniture and mattress, including furniture and related accessories for the living room, dining room, and bedroom, as well as traditional and specialty mattresses; and home appliances, such as refrigerators, freezers, washers, dryers, dishwashers, and ranges.

Further Reading: 52-Week High/Low

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