According to Zacks, “Conns Inc is a specialty retailer currently operating retail locations in Texas and Louisiana. It sells major home appliances, including refrigerators, freezers, washers, dryers and ranges, and a variety of consumer electronics, including projection, plasma and LCD televisions, camcorders, VCRs, DVD players and home theater products. They also sell home office equipment, lawn and garden products and bedding, and continue to introduce additional product categories for the home to help increase same store sales and to respond to their customers’ product needs. “
A number of other analysts have also recently weighed in on the stock. ValuEngine upgraded shares of Conn’s from a strong sell rating to a sell rating in a report on Thursday, February 28th. BidaskClub upgraded shares of Conn’s from a sell rating to a hold rating in a report on Thursday, June 13th. Finally, TheStreet upgraded shares of Conn’s from a c+ rating to a b- rating in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $37.50.
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, beating analysts’ consensus estimates of $0.53 by $0.05. Conn’s had a net margin of 5.22% and a return on equity of 14.38%. The business had revenue of $353.50 million for the quarter, compared to analysts’ expectations of $366.66 million. During the same period last year, the business earned $0.39 EPS. The company’s revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts forecast that Conn’s will post 2.74 EPS for the current year.
In related news, Director William E. Saunders, Jr. bought 10,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was bought at an average cost of $17.97 per share, for a total transaction of $179,700.00. Following the purchase, the director now directly owns 43,743 shares of the company’s stock, valued at $786,061.71. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd Renaud sold 2,500 shares of Conn’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 transaction of $62,525.00. Following the completion of the sale, the vice president now owns 38,538 shares of the company’s stock, valued at $963,835.38. The disclosure for this sale can be found here. Insiders purchased a total of 27,647 shares of company stock valued at $480,228 over the last quarter. 3.68% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Whittier Trust Co. purchased a new position in Conn’s during the 4th quarter worth approximately $93,000. Investors Research Corp purchased a new position in Conn’s during the 1st quarter worth approximately $106,000. Metropolitan Life Insurance Co. NY raised its position in Conn’s by 339.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,959 shares of the specialty retailer’s stock worth $131,000 after buying an additional 5,376 shares during the last quarter. Mason Street Advisors LLC purchased a new position in Conn’s during the 1st quarter worth approximately $179,000. Finally, State of Alaska Department of Revenue purchased a new position in Conn’s during the 1st quarter worth approximately $188,000. Institutional investors own 75.17% of the company’s stock.
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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