BidaskClub Lowers Conn’s (CONN) to Sell

Conn’s (NASDAQ:CONN) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday, BidAskClub reports.

CONN has been the subject of several other research reports. ValuEngine upgraded Conn’s from a “strong sell” rating to a “sell” rating in a report on Thursday, February 28th. Stifel Nicolaus cut their price target on Conn’s from $40.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, January 22nd. Zacks Investment Research cut Conn’s from a “hold” rating to a “sell” rating in a report on Tuesday, February 5th. Finally, TheStreet upgraded Conn’s from a “c+” rating to a “b-” rating in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $37.50.

NASDAQ CONN opened at $23.66 on Wednesday. The company has a market cap of $745.35 million, a price-to-earnings ratio of 9.43, a PEG ratio of 0.36 and a beta of 2.22. The company has a debt-to-equity ratio of 1.45, a current ratio of 4.27 and a quick ratio of 3.34. Conn’s has a 1-year low of $17.00 and a 1-year high of $42.65.

Conn’s (NASDAQ:CONN) last released its quarterly earnings results on Tuesday, March 26th. The specialty retailer reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.20. The business had revenue of $432.98 million during the quarter, compared to analysts’ expectations of $437.95 million. Conn’s had a return on equity of 13.97% and a net margin of 4.76%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 EPS. As a group, research analysts forecast that Conn’s will post 2.81 EPS for the current fiscal year.

In other news, VP Todd Renaud sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $25.01, for a total value of $62,525.00. Following the completion of the sale, the vice president now directly owns 38,538 shares of the company’s stock, valued at approximately $963,835.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.68% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the company. Portolan Capital Management LLC lifted its stake 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 during the last quarter. Northpointe Capital LLC bought a new stake in shares of Conn’s in the 4th quarter valued at approximately $880,000. Eqis Capital Management Inc. lifted its stake in shares of Conn’s by 42.1% in the 4th quarter. Eqis Capital Management Inc. now owns 11,959 shares of the specialty retailer’s stock valued at $226,000 after purchasing an additional 3,545 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Conn’s by 87.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 879,797 shares of the specialty retailer’s stock valued at $31,100,000 after purchasing an additional 410,313 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of Conn’s by 7.0% in the 3rd quarter. Nordea Investment Management AB now owns 135,237 shares of the specialty retailer’s stock valued at $4,780,000 after purchasing an additional 8,885 shares during the last quarter. 70.02% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Conn`s (NASDAQ:CONN)

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