BidaskClub Lowers Conn’s (NASDAQ:CONN) to Sell

BidaskClub lowered shares of Conn’s (NASDAQ:CONN) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning, BidAskClub reports.

A number of other equities analysts have also recently weighed in on the company. Zacks Investment Research upgraded Flagstar Bancorp from a hold rating to a buy rating and set a $38.00 price target for the company in a report on Monday, July 8th. ValuEngine cut Intersect ENT from a buy rating to a hold rating in a report on Monday, June 3rd. Finally, TheStreet upgraded Social Reality from a d+ rating to a c- rating in a report on Wednesday, April 17th. Three equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company. Conn’s currently has a consensus rating of Hold and an average price target of $36.00.

Shares of NASDAQ:CONN opened at $18.28 on Tuesday. The company has a quick ratio of 4.28, a current ratio of 5.41 and a debt-to-equity ratio of 1.90. Conn’s has a 1 year low of $15.40 and a 1 year high of $42.65. The stock has a market cap of $583.50 million, a PE ratio of 7.28, a P/E/G ratio of 0.28 and a beta of 2.25. The business’s 50-day moving average price is $18.20.

Conn’s (NASDAQ:CONN) last released its quarterly earnings results on Friday, May 31st. The specialty retailer reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.05. The firm had revenue of $353.50 million during the quarter, compared to analysts’ expectations of $366.66 million. Conn’s had a return on equity of 14.38% and a net margin of 5.22%. Conn’s’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 EPS. Research analysts expect that Conn’s will post 2.74 EPS for the current year.

In other Conn’s news, COO Lee A. Wright bought 5,882 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were bought at an average cost of $17.03 per share, with a total value of $100,170.46. Following the transaction, the chief operating officer now directly owns 203,189 shares in the company, valued at approximately $3,460,308.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William E. Saunders, Jr. bought 10,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was acquired at an average cost of $17.97 per share, for a total transaction of $179,700.00. Following the completion of the transaction, the director now owns 43,743 shares in the company, valued at $786,061.71. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 27,647 shares of company stock valued at $480,228. 3.68% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Portolan Capital Management LLC raised its position in shares of Conn’s by 54.3% in the 4th quarter. Portolan Capital Management LLC now owns 415,303 shares of the specialty retailer’s stock valued at $7,833,000 after purchasing an additional 146,097 shares in the last quarter. Stephens Inc. AR raised its position in shares of Conn’s by 1.3% in the 1st quarter. Stephens Inc. AR now owns 136,036 shares of the specialty retailer’s stock valued at $3,110,000 after purchasing an additional 1,798 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Conn’s by 28.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,875,092 shares of the specialty retailer’s stock valued at $35,365,000 after purchasing an additional 411,845 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Conn’s by 116.2% in the 4th quarter. Prudential Financial Inc. now owns 241,324 shares of the specialty retailer’s stock valued at $4,552,000 after purchasing an additional 129,727 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in shares of Conn’s by 1,228.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 31,884 shares of the specialty retailer’s stock valued at $729,000 after purchasing an additional 29,484 shares in the last quarter. 75.17% of the stock is currently owned by institutional investors.

Conn’s Company Profile

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: Diversification

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