Conn’s (NASDAQ:CONN) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Conn’s (NASDAQ:CONN) from a hold rating to a strong-buy rating in a report issued on Tuesday, Zacks.com reports. They currently have $33.00 price objective on the specialty retailer’s stock.

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. “

Separately, TheStreet upgraded shares of Conn’s from a c- rating to a b- rating in a report on Thursday, June 3rd.

NASDAQ:CONN opened at $27.59 on Tuesday. The company has a market capitalization of $809.99 million, a PE ratio of 8.31 and a beta of 2.61. The firm has a fifty day moving average of $22.10. Conn’s has a twelve month low of $7.83 and a twelve month high of $31.48. The company has a current ratio of 3.74, a quick ratio of 2.81 and a debt-to-equity ratio of 0.81.

Conn’s (NASDAQ:CONN) last released its quarterly earnings results on Monday, June 7th. The specialty retailer reported $1.55 earnings per share for the quarter, beating the consensus estimate of $0.30 by $1.25. The business had revenue of $363.70 million for the quarter, compared to analysts’ expectations of $324.56 million. Conn’s had a net margin of 6.87% and a return on equity of 18.58%. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.89) earnings per share. Analysts predict that Conn’s will post 2.02 earnings per share for the current fiscal year.

In related news, major shareholder Curtis F. Bradbury, Jr. sold 4,017 shares of the company’s stock in a transaction dated Monday, June 7th. The shares were sold at an average price of $29.28, for a total value of $117,617.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Curtis F. Bradbury, Jr. sold 20,000 shares of the company’s stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $20.82, for a total transaction of $416,400.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,518 shares of company stock worth $1,260,473. 4.65% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the business. Vantage Consulting Group Inc purchased a new position in Conn’s in the 4th quarter worth about $28,000. FORA Capital LLC purchased a new position in Conn’s in the 1st quarter worth about $47,000. Captrust Financial Advisors raised its position in Conn’s by 9,410.0% in the 1st quarter. Captrust Financial Advisors now owns 2,853 shares of the specialty retailer’s stock worth $55,000 after buying an additional 2,823 shares during the last quarter. Clarus Group Inc. purchased a new position in Conn’s in the 1st quarter worth about $125,000. Finally, Quantbot Technologies LP purchased a new position in Conn’s in the 1st quarter worth about $151,000. 51.80% of the stock is 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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