Zacks Investment Research Lowers Conn’s (NASDAQ:CONN) to Sell

Zacks Investment Research cut shares of Conn’s (NASDAQ:CONN) from a hold rating to a sell rating in a research note released on Monday morning, Zacks.com reports.

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 equities research analysts have also issued reports on CONN. BidaskClub raised DENTSPLY SIRONA from a buy rating to a strong-buy rating in a research note on Thursday, June 13th. ValuEngine lowered Intersect ENT from a buy rating to a hold rating in a research note on Monday, June 3rd. Finally, TheStreet raised Social Reality from a d+ rating to a c- rating in a research note on Wednesday, April 17th. Three research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $36.00.

Shares of NASDAQ:CONN traded down $0.03 during trading on Monday, hitting $17.72. 271,652 shares of the stock were exchanged, compared to its average volume of 535,486. Conn’s has a 12-month low of $15.40 and a 12-month high of $42.65. The company has a debt-to-equity ratio of 1.90, a quick ratio of 4.28 and a current ratio of 5.41. The company has a fifty day simple moving average of $18.37. The company has a market capitalization of $566.30 million, a P/E ratio of 7.06, a PEG ratio of 0.28 and a beta of 2.26.

Conn’s (NASDAQ:CONN) last posted its earnings results on Friday, May 31st. The specialty retailer reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. Conn’s had a return on equity of 14.38% and a net margin of 5.22%. The firm had revenue of $353.50 million for the quarter, compared to analyst estimates of $366.66 million. During the same quarter in the prior year, the company earned $0.39 EPS. Conn’s’s revenue was down 1.4% on a year-over-year basis. As a group, research analysts predict that Conn’s will post 2.74 EPS for the current year.

In other Conn’s news, VP Todd Renaud sold 2,500 shares of the business’s stock in a transaction 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 transaction, the vice president now directly owns 38,538 shares in the company, valued at approximately $963,835.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Norman Miller purchased 11,765 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was acquired at an average price of $17.03 per share, with a total value of $200,357.95. Following the completion of the acquisition, the chairman now directly owns 388,761 shares in the company, valued at approximately $6,620,599.83. The disclosure for this purchase can be found here. Insiders acquired a total of 27,647 shares of company stock valued at $480,228 over the last quarter. 3.68% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Crossmark Global Holdings Inc. increased its holdings in shares of Conn’s by 5.8% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 11,330 shares of the specialty retailer’s stock worth $202,000 after buying an additional 617 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Conn’s by 2.5% during the 4th quarter. Bank of America Corp DE now owns 42,163 shares of the specialty retailer’s stock worth $795,000 after buying an additional 1,011 shares during the last quarter. Stephens Inc. AR increased its holdings in shares of Conn’s by 1.3% during the 1st quarter. Stephens Inc. AR now owns 136,036 shares of the specialty retailer’s stock worth $3,110,000 after buying an additional 1,798 shares during the last quarter. Stone Ridge Asset Management LLC increased its holdings in shares of Conn’s by 30.2% during the 4th quarter. Stone Ridge Asset Management LLC now owns 11,704 shares of the specialty retailer’s stock worth $221,000 after buying an additional 2,718 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Conn’s by 60.4% during the 1st quarter. Victory Capital Management Inc. now owns 8,813 shares of the specialty retailer’s stock worth $201,000 after buying an additional 3,319 shares during the last quarter. Institutional investors own 75.17% of the company’s stock.

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.

Featured Article: Understanding each part of a balance sheet

Get a free copy of the Zacks research report on Conn’s (CONN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Conn's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conn's and related companies with MarketBeat.com's FREE daily email newsletter.