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

BidaskClub downgraded shares of Conn’s (NASDAQ:CONN) from a hold rating to a sell rating in a report issued on Saturday morning, BidAskClub reports.

CONN has been the subject of several other reports. KeyCorp set a $41.00 price objective on shares of Conn’s and gave the stock a buy rating in a research report on Wednesday, September 4th. Zacks Investment Research upgraded shares of Conn’s from a hold rating to a buy rating and set a $28.00 price objective for the company in a research report on Thursday, October 31st. Stifel Nicolaus reiterated a buy rating and set a $31.00 price objective (up from $28.00) on shares of Conn’s in a research report on Tuesday, September 3rd. Finally, ValuEngine cut shares of Conn’s from a hold rating to a sell rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $32.40.

Shares of CONN traded down $0.77 during trading hours on Friday, hitting $21.28. 28,559 shares of the stock were exchanged, compared to its average volume of 314,067. Conn’s has a fifty-two week low of $15.40 and a fifty-two week high of $29.43. The company has a debt-to-equity ratio of 2.01, a current ratio of 5.01 and a quick ratio of 3.97. The business has a 50-day moving average of $24.52 and a 200-day moving average of $21.65. The firm has a market capitalization of $642.52 million, a P/E ratio of 8.48, a price-to-earnings-growth ratio of 0.35 and a beta of 2.11.

Conn’s (NASDAQ:CONN) last posted its quarterly earnings data on Tuesday, September 3rd. The specialty retailer reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.11. Conn’s had a net margin of 5.35% and a return on equity of 14.27%. The company had revenue of $401.10 million during the quarter, compared to analysts’ expectations of $398.10 million. During the same period in the prior year, the company posted $0.57 earnings per share. Conn’s’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, analysts forecast that Conn’s will post 2.73 earnings per share for the current fiscal year.

In related news, VP Todd Renaud sold 3,000 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $24.67, for a total transaction of $74,010.00. Following the transaction, the vice president now directly owns 35,141 shares of the company’s stock, valued at $866,928.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian Daly sold 8,700 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $27.00, for a total transaction of $234,900.00. Following the transaction, the insider now directly owns 47,482 shares in the company, valued at $1,282,014. The disclosure for this sale can be found here. Corporate insiders own 3.68% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tyers Asset Management LLC boosted its stake in Conn’s by 229.5% during the second quarter. Tyers Asset Management LLC now owns 3,216 shares of the specialty retailer’s stock worth $57,000 after acquiring an additional 2,240 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in Conn’s by 218.2% during the second quarter. Riverhead Capital Management LLC now owns 3,500 shares of the specialty retailer’s stock worth $62,000 after acquiring an additional 2,400 shares in the last quarter. Elkfork Partners LLC boosted its stake in Conn’s by 229.5% during the second quarter. Elkfork Partners LLC now owns 4,422 shares of the specialty retailer’s stock worth $79,000 after acquiring an additional 3,080 shares in the last quarter. Meadow Creek Investment Management LLC boosted its stake in Conn’s by 229.5% during the second quarter. Meadow Creek Investment Management LLC now owns 5,628 shares of the specialty retailer’s stock worth $100,000 after acquiring an additional 3,920 shares in the last quarter. Finally, Aperio Group LLC bought a new position in Conn’s during the second quarter worth $115,000. 73.16% of the stock is currently owned by institutional investors and hedge funds.

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.

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