Conn’s (CONN) Gets a Buy Rating from Oppenheimer
In a report released today, Brian Nagel from Oppenheimer maintained a Buy rating on Conn’s (CONN), with a price target of $40. The company’s shares opened today at $26.48.
“Shares of CONN are trading lower today following a generally in-line Q3:18 (Oct.) report and Q4 (Jan. 2019) guidance from the company. We look upon the pullback in shares as much more a function of a still edgy market than of any underlying issues CONN. CEO Norm Miller and his team continue to work tirelessly to rejuvenate the business model. Once again, trends suggest a much healthier credit business and indications of improved results at retail. In our view, the market continues to underestimate the now much-improved EPS power of the company. Our price target remains $40.”
According to TipRanks.com, Nagel is a 5-star analyst with an average return of 6.8% and a 59.8% success rate. Nagel covers the Services sector, focusing on stocks such as Weight Watchers International, Dick’s Sporting Goods, and Advance Auto Parts.
Currently, the analyst consensus on Conn’s is a Moderate Buy with an average price target of $43.
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Based on Conn’s’ latest earnings release for the quarter ending July 31, the company reported a quarterly net profit of $17.01 million. In comparison, last year the company had a net profit of $1.57 million.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock.
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Conn’s, Inc. is holding company, which engages in the retail and provision of consumer goods and related services in addition to proprietary credit solutions for its core credit-constrained consumers through retail stores and its website. It operates through the Retail and Credit segments.