Conn’s (CONN) has expanded its footprint into the Ocala, Florida market by opening a new HomePlus showroom in the Boyd Market Center. The expansion brings to seven the number of the specialty retailer’s operating units in Florida with 152 stores spanning over 15 states.
The new store will offer Ocala’s residents affordable alternative home products while allowing Conn’s to tap into one of the fifth fastest-growing cities in the country. Some of the items that customers can access in the store include mattresses, furniture, and consumer electronics.
HomePlus is also offering its Low Payment Finder that enables flexible payment plans customized to customers’ needs. The flexible plans are tailored to customers’ individual credit needs. (See Conn’s stock analysis on TipRanks).
“We are excited for the continued expansion of our Florida footprint, as we open our seventh store within the state in less than a year,” said CEO Norm Miller.
“The new showroom in Ocala showcases our continued commitment to being a key player in the growing economy and we look forward to joining the community and helping our newest customers to Make It Happen,” added Miller.
On March 31, Oppenheimer analyst Brian Nagel assigned a Hold rating to CONN but did not provide a price target.
Consensus among analysts on Wall Street is a Moderate Buy based on 1 Buy and 2 Hold ratings. The average analyst price target of $21.50 implies 7.29% downside potential to current levels.
CONN scores a 5 out of 10 on TipRanks’ Smart Score rating system, implying its performance is likely to align with market expectations.
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