Conn’s, Inc. (CONN) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Conn’s, Inc. (NASDAQ:CONN) from a hold rating to a sell rating in a research note published on Wednesday.

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. “

Conn’s (NASDAQ:CONN) opened at 10.30 on Wednesday. The company has a 50-day moving average of $11.59 and a 200-day moving average of $10.07. Conn’s has a one year low of $6.54 and a one year high of $21.48. The company’s market cap is $317.85 million.

Conn’s (NASDAQ:CONN) last announced its quarterly earnings results on Tuesday, December 6th. The company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.11. Conn’s had a negative return on equity of 1.82% and a negative net margin of 1.51%. The firm had revenue of $308.37 million for the quarter, compared to analysts’ expectations of $392.61 million. During the same period in the prior year, the business posted $0.02 earnings per share. The company’s revenue was down 4.7% on a year-over-year basis. Equities research analysts expect that Conn’s will post ($0.54) EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This article was originally posted by sleekmoney and is owned by of sleekmoney. If you are reading this article on another site, it was stolen and reposted in violation of United States and international copyright & trademark legislation. The correct version of this article can be viewed at http://sleekmoney.com/conns-inc-conn-downgraded-by-zacks-investment-research/1657487.html.

Large investors have recently made changes to their positions in the stock. Morgan Stanley raised its position in shares of Conn’s by 14.8% in the third quarter. Morgan Stanley now owns 2,403,669 shares of the company’s stock valued at $24,806,000 after buying an additional 310,670 shares during the last quarter. Stephens Inc. AR raised its position in shares of Conn’s by 270.8% in the third quarter. Stephens Inc. AR now owns 203,786 shares of the company’s stock valued at $2,103,000 after buying an additional 148,830 shares during the last quarter. Royce & Associates LP acquired a new position in shares of Conn’s during the fourth quarter valued at approximately $2,523,000. Wedbush Securities Inc. raised its position in shares of Conn’s by 28.8% in the second quarter. Wedbush Securities Inc. now owns 122,771 shares of the company’s stock valued at $923,000 after buying an additional 27,441 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Conn’s by 46.0% in the third quarter. California Public Employees Retirement System now owns 122,600 shares of the company’s stock valued at $1,265,000 after buying an additional 38,600 shares during the last quarter. Hedge funds and other institutional investors own 59.77% of the company’s stock.

About Conn’s

Conn’s, Inc is a specialty retailer that offers a selection of consumer goods and related services in addition to a credit solution for its core credit constrained consumers. The Company operates through two segments: retail and credit. The Retail segment includes product categories, such as furniture and mattress, including furniture and related accessories for the living room, dining room and bedroom; home appliance, including refrigerators, freezers, washers, dryers, dishwashers and ranges; Consumer electronics, including liquid-crystal-display (LED), organic LED (OLED), Ultra high definition (HD) and Internet-ready televisions, and home office, including computers, printers and accessories.

5 Day Chart for NASDAQ:CONN

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

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/conns-inc-conn-downgraded-by-zacks-investment-research/1657487.html

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

 

Leave a Reply

Your email address will not be published. Required fields are marked *