Conn’s (NASDAQ:CONN) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Conn’s (NASDAQ:CONN) from a hold rating to a sell rating in a research report report published on Monday morning, Zacks.com reports.

According to Zacks, “Conns Inc is a specialty retailer currently operating retail locations in Texas and Louisiana. It sells major home appliances, including refrigerators, freezers, washers, dryers and ranges, and a variety of consumer electronics, including projection, plasma and LCD televisions, camcorders, VCRs, DVD players and home theater products. They also sell home office equipment, lawn and garden products and bedding, and continue to introduce additional product categories for the home to help increase same store sales and to respond to their customers’ product needs. “

Several other analysts also recently commented on the stock. TheStreet upgraded shares of Social Reality from a d+ rating to a c- rating in a research report on Wednesday, April 17th. ValuEngine downgraded shares of Intersect ENT from a buy rating to a hold rating in a research report on Monday, June 3rd. Finally, BidaskClub upgraded shares of DENTSPLY SIRONA from a buy rating to a strong-buy rating in a research report on Thursday, June 13th. Three analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $36.00.

CONN stock opened at $17.72 on Monday. The firm has a fifty day simple moving average of $18.27. Conn’s has a 12 month low of $15.40 and a 12 month high of $42.65. The stock has a market cap of $566.30 million, a P/E ratio of 7.06, a price-to-earnings-growth ratio of 0.28 and a beta of 2.26. 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 (NASDAQ:CONN) last released its quarterly earnings results on Friday, May 31st. The specialty retailer reported $0.58 EPS for the quarter, beating the consensus estimate of $0.53 by $0.05. Conn’s had a net margin of 5.22% and a return on equity of 14.38%. The firm had revenue of $353.50 million during the quarter, compared to the consensus estimate of $366.66 million. During the same quarter in the prior year, the firm earned $0.39 EPS. Conn’s’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, research analysts anticipate that Conn’s will post 2.74 EPS for the current year.

In other news, Director William E. Saunders, Jr. acquired 10,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was bought at an average price of $17.97 per share, for a total transaction of $179,700.00. Following the transaction, the director now owns 43,743 shares in the company, valued at $786,061.71. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Norman Miller acquired 11,765 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were purchased at an average price of $17.03 per share, with a total value of $200,357.95. Following the transaction, the chairman now owns 388,761 shares in the company, valued at approximately $6,620,599.83. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 27,647 shares of company stock valued at $480,228. 3.68% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in CONN. Investors Research Corp purchased a new position in Conn’s during the 1st quarter worth $106,000. Metropolitan Life Insurance Co. NY raised its position in Conn’s by 339.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,959 shares of the specialty retailer’s stock worth $131,000 after buying an additional 5,376 shares during the last quarter. Mason Street Advisors LLC purchased a new position in Conn’s during the 1st quarter worth $179,000. State of Alaska Department of Revenue purchased a new position in Conn’s during the 1st quarter worth $188,000. Finally, Victory Capital Management Inc. raised its position in Conn’s by 60.4% during the 1st quarter. Victory Capital Management Inc. now owns 8,813 shares of the specialty retailer’s stock worth $201,000 after buying an additional 3,319 shares during the last quarter. Institutional investors own 75.17% 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.

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