Conn's (CONN) Earns Buy Rating from Oppenheimer
Oppenheimer reaffirmed their buy rating on shares of Conn's (NASDAQ:CONN) in a report issued on Wednesday morning. Oppenheimer also issued estimates for Conn's’ Q4 2018 earnings at $0.55 EPS, Q1 2019 earnings at $0.25 EPS, Q3 2019 earnings at $0.45 EPS, Q4 2019 earnings at $0.79 EPS, FY2019 earnings at $1.95 EPS and FY2020 earnings at $2.50 EPS.
CONN has been the subject of several other reports. Zacks Investment Research upgraded Conn's from a hold rating to a strong-buy rating and set a $27.00 price target for the company in a research report on Wednesday, September 13th. SunTrust Banks restated a buy rating and set a $33.00 price target on shares of Conn's in a research report on Thursday, October 19th. Stifel Nicolaus lowered Conn's from a buy rating to a hold rating and raised their price target for the stock from $26.00 to $30.00 in a research report on Monday, October 9th. BidaskClub upgraded Conn's from a hold rating to a buy rating in a research report on Thursday, December 7th. Finally, TheStreet upgraded Conn's from a d+ rating to a c rating in a research report on Thursday, September 7th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $37.50.
Conn's (NASDAQ CONN) traded up $1.45 on Wednesday, hitting $33.95. The stock had a trading volume of 618,670 shares, compared to its average volume of 564,287. Conn's has a 1-year low of $7.75 and a 1-year high of $37.80. The stock has a market capitalization of $1,019.54, a price-to-earnings ratio of 73.86, a P/E/G ratio of 1.60 and a beta of 1.86. The company has a debt-to-equity ratio of 1.84, a quick ratio of 3.04 and a current ratio of 3.94.
In related news, major shareholder Harriet C. Stephens acquired 23,000 shares of Conn's stock in a transaction dated Monday, October 16th. The shares were acquired at an average cost of $25.50 per share, for a total transaction of $586,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Schofman acquired 1,000 shares of Conn's stock in a transaction dated Monday, December 11th. The stock was bought at an average price of $32.20 per share, for a total transaction of $32,200.00. Following the completion of the purchase, the director now owns 20,384 shares of the company’s stock, valued at approximately $656,364.80. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 66,000 shares of company stock worth $1,685,500. Insiders own 3.48% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CONN. Russell Investments Group Ltd. raised its stake in shares of Conn's by 269.9% in the third quarter. Russell Investments Group Ltd. now owns 426,473 shares of the specialty retailer’s stock valued at $12,005,000 after acquiring an additional 311,178 shares in the last quarter. Northpointe Capital LLC acquired a new stake in Conn's in the second quarter valued at $5,052,000. EAM Investors LLC acquired a new stake in Conn's in the second quarter valued at $4,168,000. Prudential Financial Inc. acquired a new stake in Conn's in the third quarter valued at $6,050,000. Finally, State Street Corp raised its stake in Conn's by 45.9% in the second quarter. State Street Corp now owns 566,793 shares of the specialty retailer’s stock valued at $10,828,000 after buying an additional 178,277 shares in the last quarter. Institutional investors and hedge funds own 71.94% of the company’s stock.
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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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