Conn’s Inc (NASDAQ:CONN)’s share price fell 5.3% during trading on Wednesday . The company traded as low as $19.29 and last traded at $19.48, 509,200 shares traded hands during mid-day trading. A decline of 3% from the average session volume of 525,583 shares. The stock had previously closed at $20.56.
A number of research firms have commented on CONN. Stifel Nicolaus reaffirmed a “buy” rating and issued a $31.00 price objective (up previously from $28.00) on shares of Conn’s in a report on Tuesday, September 3rd. BidaskClub downgraded shares of Conn’s from a “hold” rating to a “sell” rating in a report on Saturday, November 16th. Zacks Investment Research raised shares of Conn’s from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Thursday, October 31st. ValuEngine downgraded shares of Conn’s from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Finally, KeyCorp set a $41.00 price target on shares of Conn’s and gave the company a “buy” rating in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $32.40.
The company has a market cap of $563.03 million, a price-to-earnings ratio of 7.76, a P/E/G ratio of 0.35 and a beta of 2.04. The company has a debt-to-equity ratio of 2.01, a current ratio of 5.01 and a quick ratio of 3.97. The firm’s fifty day moving average price is $23.47 and its 200-day moving average price is $21.41.
Conn’s (NASDAQ:CONN) last announced its quarterly earnings results on Tuesday, September 3rd. The specialty retailer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.11. Conn’s had a net margin of 5.35% and a return on equity of 14.27%. The company had revenue of $401.10 million during the quarter, compared to the consensus estimate of $398.10 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities analysts forecast that Conn’s Inc will post 2.7 earnings per share for the current fiscal year.
In other Conn’s news, VP Todd Renaud sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $24.67, for a total value of $74,010.00. Following the sale, the vice president now directly owns 35,141 shares in the company, valued at $866,928.47. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian Daly sold 8,700 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $27.00, for a total transaction of $234,900.00. Following the completion of the sale, the insider now owns 47,482 shares in the company, valued at $1,282,014. The disclosure for this sale can be found here. 3.68% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the business. Tyers Asset Management LLC raised its position in Conn’s by 229.5% in the second quarter. Tyers Asset Management LLC now owns 3,216 shares of the specialty retailer’s stock worth $57,000 after acquiring an additional 2,240 shares in the last quarter. Riverhead Capital Management LLC raised its position in Conn’s by 218.2% in the second quarter. Riverhead Capital Management LLC now owns 3,500 shares of the specialty retailer’s stock worth $62,000 after acquiring an additional 2,400 shares in the last quarter. Elkfork Partners LLC raised its position in Conn’s by 229.5% in the second quarter. Elkfork Partners LLC now owns 4,422 shares of the specialty retailer’s stock worth $79,000 after acquiring an additional 3,080 shares in the last quarter. Meadow Creek Investment Management LLC raised its position in Conn’s by 229.5% in the second quarter. Meadow Creek Investment Management LLC now owns 5,628 shares of the specialty retailer’s stock worth $100,000 after acquiring an additional 3,920 shares in the last quarter. Finally, Aperio Group LLC bought a new stake in Conn’s in the second quarter worth about $115,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.
About Conn’s (NASDAQ:CONN)
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.
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