CONN'S (CONN) is Downgraded by Piper Jaffray to Neutral

CONN'S (CONN) was Downgraded by Piper Jaffray to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. Piper Jaffray advised their investors in a research report released on Jun 3, 2016.

On the company’s financial health, CONN'S reported $-0.31 EPS for the quarter, missing the analyst consensus estimate by $ -0.43 based on the information available during the earnings call on Jun 2, 2016. Analyst had a consensus of $0.12. The company had revenue of $389.11 million for the quarter, compared to analysts expectations of $392.40 million. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.

CONN'S opened for trading at $10.82 and hit $11.85 on the upside on Wednesday, eventually ending the session at $11.71, with a gain of 5.40% or 0.6 points. The heightened volatility saw the trading volume jump to 8,78,288 shares. Company has a market cap of $359 M.

In a different news, on Oct 19, 2015, David Schofman (director) purchased 1,000 shares at $22.11 per share price. According to the SEC, on Oct 7, 2015, Norman Miller (CEO) purchased 20,333 shares at $24.89 per share price. On May 19, 2015, Michael J Poppe (Chief Operating Officer) sold 10,000 shares at $40.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Conn’s Inc. is a retailer that offers a selection of durable consumer goods and related services in addition to a credit solution for its primary credit constrained consumers. The Company operates business through its retail stores and Website. The Company operates through two segments: retail and credit. Its product offerings include furniture and mattresses home appliances consumer electronics and home office products. The Company’s retail stores bear the Conn’s or Conn’s HomePlus name and deliver the same products and services to a common customer group. Its credit offering provides financing solutions to a population of credit constrained consumers who typically have limited banking options and have credit scores between 550 and 650.


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