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Shares of Conn's Under Pressure, Down 1.4%

Published on Wed, 01/30/2013 - 11:30
By Mallory Stone

One of today's notable stocks in decline is Conn's (NASDAQ:CONN), down 1.4% to $27.95. The Dow Jones Industrial Average is now trading fractionally lower to 13,937 and the S&P is trading 0.2% lower to 1,505.

Conn's has overhead space with shares priced $27.95, or 20.4% below the average consensus analyst price target of $35.12. The stock should find resistance at its 50-day moving average (MA) of $28.52, as well as support at its 200-day MA of $22.18.

Conn's, Inc. is a specialty retailer of home appliances and consumer electronics through stores in Texas and Louisiana, and via its website. Conn's also offers home office equipment, lawn and garden products, and other home products such as bedding.

In the past 52 weeks, Conn's share prices have been bracketed by a low of $10.87 and a high of $31.35 and are now at $27.95, 157% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.7%.

By Mallory Stone