Conn's Inc (CONN) Upgraded by UBS AG to Outperform
UBS AG upgraded shares of Conn's Inc (NASDAQ:CONN) from a market perform rating to an outperform rating in a research note released on Friday, The Fly reports.
A number of other research analysts also recently issued reports on the stock. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Conn's in a research report on Tuesday, June 6th. TheStreet raised shares of Conn's from a d+ rating to a c rating in a research report on Thursday, September 7th. KeyCorp reissued an overweight rating and set a $22.00 target price on shares of Conn's in a research report on Tuesday, September 5th. BidaskClub cut shares of Conn's from a buy rating to a hold rating in a research report on Friday, August 18th. Finally, Zacks Investment Research upgraded shares of Conn's from a hold rating to a buy rating and set a $20.00 target price for the company in a research note on Tuesday, July 11th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $28.60.
Shares of Conn's (NASDAQ CONN) opened at 27.95 on Friday. The company’s 50-day moving average is $21.29 and its 200 day moving average is $17.83. Conn's has a 12 month low of $7.75 and a 12 month high of $28.60. The stock’s market capitalization is $872.21 million.
Conn's (NASDAQ:CONN) last posted its earnings results on Thursday, September 7th. The specialty retailer reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.28. The company had revenue of $366.65 million for the quarter, compared to analyst estimates of $371.97 million. Conn's had a return on equity of 3.29% and a net margin of 1.17%. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. Equities research analysts predict that Conn's will post $0.74 earnings per share for the current year.
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In related news, major shareholder W. R. Jr. Stephens acquired 12,000 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The stock was purchased at an average cost of $18.85 per share, with a total value of $226,200.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.48% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. American International Group Inc. increased its stake in Conn's by 7.1% during the 1st quarter. American International Group Inc. now owns 12,501 shares of the specialty retailer’s stock valued at $109,000 after purchasing an additional 830 shares in the last quarter. ClariVest Asset Management LLC purchased a new position in shares of Conn's in the second quarter worth $114,000. Voya Investment Management LLC purchased a new position in shares of Conn's in the second quarter worth $215,000. GSA Capital Partners LLP purchased a new position in shares of Conn's in the second quarter worth $258,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Conn's by 2.5% in the second quarter. Wells Fargo & Company MN now owns 16,192 shares of the specialty retailer’s stock worth $310,000 after buying an additional 400 shares during the last quarter. 70.97% of the stock is currently owned by institutional investors.
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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