Conn’s (NASDAQ:CONN) Downgraded by Zacks Investment Research

Conn’s (NASDAQ:CONNGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday, 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. “

CONN has been the topic of several other reports. Jefferies Financial Group initiated coverage on Conn’s in a research report on Friday, April 1st. They issued a “buy” rating and a $24.00 price target on the stock. Stephens reduced their price target on Conn’s to $13.00 in a research report on Friday. Oppenheimer restated a “market perform” rating on shares of Conn’s in a research report on Tuesday, April 5th. TheStreet lowered Conn’s from a “b-” rating to a “c” rating in a report on Tuesday, March 29th. Finally, StockNews.com began coverage on Conn’s in a report on Thursday, March 31st. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Conn’s currently has a consensus rating of “Hold” and a consensus target price of $20.33.

Shares of NASDAQ:CONN traded down $0.36 during midday trading on Monday, hitting $10.81. The company had a trading volume of 830,619 shares, compared to its average volume of 578,400. Conn’s has a 12 month low of $10.15 and a 12 month high of $29.71. The company has a current ratio of 3.29, a quick ratio of 2.25 and a debt-to-equity ratio of 1.03. The stock has a market cap of $257.14 million, a price-to-earnings ratio of 4.64, a PEG ratio of 0.38 and a beta of 2.31. The firm has a fifty day simple moving average of $15.04 and a 200 day simple moving average of $19.31.

Conn’s (NASDAQ:CONNGet Rating) last posted its quarterly earnings results on Wednesday, June 1st. The specialty retailer reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.08. Conn’s had a return on equity of 11.49% and a net margin of 4.41%. The business had revenue of $339.80 million for the quarter, compared to analyst estimates of $360.78 million. During the same period last year, the company earned $1.55 EPS. The firm’s revenue was down 6.6% on a year-over-year basis. Equities analysts forecast that Conn’s will post 1.28 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CONN. Denali Advisors LLC acquired a new stake in shares of Conn’s in the 4th quarter valued at about $47,000. Captrust Financial Advisors raised its stake in shares of Conn’s by 53.5% in the 1st quarter. Captrust Financial Advisors now owns 4,856 shares of the specialty retailer’s stock valued at $75,000 after purchasing an additional 1,693 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Conn’s in the 3rd quarter valued at about $82,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Conn’s in the 1st quarter valued at about $158,000. Finally, MetLife Investment Management LLC increased its position in shares of Conn’s by 58.5% in the first quarter. MetLife Investment Management LLC now owns 10,714 shares of the specialty retailer’s stock valued at $165,000 after acquiring an additional 3,954 shares during the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

About Conn’s (Get Rating)

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 flat and other mattresses; and home appliances, such as refrigerators, freezers, washers, dryers, dishwashers, and ranges.

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