PROG (NYSE:PRG) raised to “hold” at Zacks Investment Research
According to Zacks, “PROG Holdings Inc. is a provider of lease-to-own solutions through e-commerce merchants. The Company also operates Vive Financial, a provider of a variety of second-look credit products. PROG Holdings Inc., formerly known as The Aaron’s Company Inc., is headquartered in Salt Lake City.”
Other analysts have also recently released reports on the stock. TheStreet reduced PROG’s shares from a “b-” rating to a “c+” rating in a Monday, February 7, research note. KeyCorp cut its price target on PROG shares from $64.00 to $55.00 and set an “overweight” rating for the company in a Thursday, Feb. 24 research note. Finally, Raymond James cut his price target on PROG shares from $55.00 to $42.00 and set an “outperform” rating for the company in a Thursday, Feb. 24 research note. Two analysts have rated the stock with a hold rating and two have issued a buy rating for the company’s stock. According to MarketBeat, the stock has an average buy rating and an average target price of $51.33.
Shares of PRG action opened at $26.47 on Friday. PROG has a 12-month low of $24.38 and a 12-month high of $56.73. The stock has a market capitalization of $1.46 billion, a P/E ratio of 7.29, a P/E/G ratio of 1.41 and a beta of 1.96. The company has a current ratio of 3.46, a quick ratio of 1.28 and a debt ratio of 0.87. The company has a 50-day simple moving average of $28.62 and a two-hundred-day simple moving average of $38.25.
PROG (New York Stock Exchange: PRG – Get a rating) last announced its results on Wednesday, April 27. The company reported EPS of $0.57 for the quarter, missing Zacks’ consensus estimate of $0.76 per ($0.19). The company posted revenue of $710.46 million for the quarter, compared to $719.20 million expected by analysts. PROG achieved a net margin of 9.10% and a return on equity of 27.16%. The company’s quarterly revenue was down 1.5% year over year. In the same period a year earlier, the company posted earnings per share of $1.22. As a group, stock analysts expect PROG to post earnings per share of 3.47 for the current year.
Hedge funds have recently increased or reduced their stakes in the company. Life Planning Partners Inc bought a new position in PROG during the fourth quarter worth $31,000. Point72 Hong Kong Ltd bought a new position in PROG during the third quarter worth $39,000. Quadrant Capital Group LLC increased its position in PROG by 298.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,255 shares of the company valued at $57,000 after purchasing an additional 940 shares in the last quarter. JJJ Advisors Inc. increased its position in PROG by 35.2% during the fourth quarter. JJJ Advisors Inc. now owns 1,499 shares of the company valued at $68,000 after buying 390 additional shares in the last quarter. Finally, Okabena Investment Services Inc. bought a new position in PROG during the fourth quarter at a value of $114,000. Institutional investors and hedge funds hold 92.19% of the company’s shares.
PROG company profile (Get a rating)
PROG Holdings, Inc (NYSE:PRG) is a Salt Lake City, Utah-based fintech holding company with three business segments: Progressive Leasing, which provides lease-to-own transactions primarily to distressed consumers credit through e-commerce and point-of-sale partners, through online, mobile and in-store solutions; Vive Financial, which offers consumers who may not qualify for traditional prime loans a variety of second-look revolving credit products through private label and branded credit cards; and Four Technologies, which offers consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options via four interest-free installments through its platform, Four.
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