Conn’s (NASDAQ:CONN) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Conn’s (NASDAQ:CONN) from a hold rating to a buy rating in a research note released on Friday, BidAskClub reports.

Several other research analysts have also commented on the stock. TheStreet raised shares of Conn’s from a c+ rating to a b- rating in a research note on Wednesday, April 17th. Zacks Investment Research raised shares of Conn’s from a sell rating to a hold rating in a research note on Wednesday, July 31st. Finally, ValuEngine lowered shares of Conn’s from a sell rating to a strong sell rating in a research note on Monday, June 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $36.00.

Shares of CONN opened at $18.25 on Friday. The stock has a fifty day simple moving average of $18.56. Conn’s has a fifty-two week low of $15.40 and a fifty-two week high of $42.65. The company has a market capitalization of $637.80 million, a PE ratio of 7.40, a PEG ratio of 0.32 and a beta of 2.21. The company has a debt-to-equity ratio of 1.90, a current ratio of 5.41 and a quick ratio of 4.28.

Conn’s (NASDAQ:CONN) last posted its quarterly earnings data on Friday, May 31st. The specialty retailer reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. The company had revenue of $353.50 million during the quarter, compared to analyst estimates of $366.66 million. Conn’s had a net margin of 5.22% and a return on equity of 14.38%. Conn’s’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.39 earnings per share. Analysts anticipate that Conn’s will post 2.74 earnings per share for the current year.

In related news, Director William E. Saunders, Jr. bought 10,000 shares of the stock in a transaction dated Wednesday, June 5th. The stock was purchased at an average cost of $17.97 per share, with a total value of $179,700.00. Following the completion of the purchase, the director now owns 43,743 shares of the company’s stock, valued at $786,061.71. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Norman Miller bought 11,765 shares of the stock in a transaction dated Tuesday, June 4th. The shares were bought at an average cost of $17.03 per share, with a total value of $200,357.95. Following the completion of the purchase, the chairman now directly owns 388,761 shares of the company’s stock, valued at approximately $6,620,599.83. The disclosure for this purchase can be found here. Insiders have acquired 27,647 shares of company stock valued at $480,228 over the last ninety days. 3.68% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its position in shares of Conn’s by 7.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 39,978 shares of the specialty retailer’s stock valued at $712,000 after buying an additional 2,696 shares in the last quarter. Rice Hall James & Associates LLC purchased a new position in shares of Conn’s during the 2nd quarter valued at approximately $1,295,000. Municipal Employees Retirement System of Michigan lifted its position in shares of Conn’s by 47.6% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 44,990 shares of the specialty retailer’s stock valued at $801,000 after buying an additional 14,510 shares in the last quarter. Aperio Group LLC purchased a new position in shares of Conn’s during the 2nd quarter valued at approximately $115,000. Finally, SG Americas Securities LLC purchased a new position in shares of Conn’s during the 2nd quarter valued at approximately $168,000. 76.88% of the stock is owned by hedge funds and other institutional investors.

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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