Oppenheimer analyst Brian Nagel maintained a Buy rating on Conn’s (NASDAQ: CONN) today and set a price target of $40. The company’s shares opened today at $42.15, close to its 52-week high of $42.65.
Nagel noted:
“Since late 2017, we have recommended Outperform-rated Conn’s (CONN) as a compelling, smaller-cap turnaround opportunity within the retail sector. We scrutinized closely the Q2 (July) results and updated guidance reported today and come away with the view that, per several measures, recovery continues to take hold at CONN. Credit metrics have improved markedly, while retail margins continue to notch higher. Retail sales represent the “missing piece” for CONN. Comps +0.3% are by no means bad and indeed suggest an improving trajectory. But, given a sharp move higher in the shares lately, we surmise the market was expecting more. We very much stick with our positive call on CONN upon the view that management’s aggressive tweaks to its business model should, over time, drive meaningfully improved retail sales.”
According to TipRanks.com, Nagel is a 5-star analyst with an average return of 10.5% and a 66.2% success rate. Nagel covers the Services sector, focusing on stocks such as Weight Watchers International, Lululemon Athletica Inc, and Dick’s Sporting Goods.
Conn’s has an analyst consensus of Strong Buy, with a price target consensus of $42.50.
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The company has a one-year high of $42.65 and a one-year low of $18.55. Currently, Conn’s has an average volume of 487K.
Based on the recent corporate insider activity of 45 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.
