Brokerages Set Conn’s, Inc. (CONN) PT at $22.50

Shares of Conn’s, Inc. (NASDAQ:CONN) have earned a consensus rating of “Buy” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $22.50.

Several research analysts have commented on CONN shares. Stifel Nicolaus reissued a “buy” rating and issued a $20.00 price objective (up from $19.00) on shares of Conn’s in a research report on Wednesday, June 7th. Zacks Investment Research raised Conn’s from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Tuesday, July 11th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Conn’s in a research report on Tuesday, June 20th. ValuEngine raised Conn’s from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, KeyCorp raised Conn’s from a “sector weight” rating to an “overweight” rating and set a $22.00 price objective on the stock in a research report on Tuesday, April 25th.

Conn’s (CONN) traded down 0.22% during midday trading on Friday, reaching $22.55. The company’s stock had a trading volume of 61,701 shares. The company has a 50 day moving average price of $19.51 and a 200 day moving average price of $14.28. Conn’s has a 1-year low of $6.54 and a 1-year high of $23.75. The firm’s market cap is $699.34 million.

Conn’s (NASDAQ:CONN) last issued its earnings results on Tuesday, June 6th. The specialty retailer reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.17. Conn’s had a negative return on equity of 0.72% and a negative net margin of 1.18%. The firm had revenue of $355.80 million for the quarter, compared to analysts’ expectations of $357.53 million. During the same quarter last year, the firm earned ($0.31) earnings per share. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. On average, equities research analysts expect that Conn’s will post $0.49 EPS for the current year.

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In other Conn’s news, major shareholder W. R. Jr. Stephens bought 12,000 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were acquired at an average cost of $18.85 per share, with a total value of $226,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas H. Martin bought 10,000 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were acquired at an average cost of $17.83 per share, for a total transaction of $178,300.00. The disclosure for this purchase can be found here. Company insiders own 3.48% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Northpointe Capital LLC acquired a new stake in shares of Conn’s during the second quarter worth about $5,052,000. Acadian Asset Management LLC acquired a new stake in shares of Conn’s during the second quarter worth about $4,766,000. Royce & Associates LP raised its stake in shares of Conn’s by 108.3% in the first quarter. Royce & Associates LP now owns 415,336 shares of the specialty retailer’s stock worth $3,634,000 after buying an additional 215,900 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of Conn’s by 77.5% in the first quarter. Point72 Asset Management L.P. now owns 400,000 shares of the specialty retailer’s stock worth $3,500,000 after buying an additional 174,600 shares during the last quarter. Finally, Stephens Inc. AR raised its stake in shares of Conn’s by 85.5% in the first quarter. Stephens Inc. AR now owns 376,350 shares of the specialty retailer’s stock worth $3,293,000 after buying an additional 173,416 shares during the last quarter. 62.58% of the stock is currently owned by institutional investors and hedge funds.

About Conn’s

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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