Rent-A-Center (NASDAQ:RCII) Stock Rating Upgraded by StockNews.com
Rent-A-Center (NASDAQ:RCII – Get Rating) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.
Separately, Stephens lowered shares of Rent-A-Center from an “overweight” rating to an “equal weight” rating and set a $42.00 price target for the company. in a research report on Wednesday, June 29th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Rent-A-Center currently has an average rating of “Moderate Buy” and a consensus price target of $52.75.
Rent-A-Center Price Performance
Shares of RCII traded down $0.07 during mid-day trading on Monday, reaching $23.52. The stock had a trading volume of 408,762 shares, compared to its average volume of 1,014,245. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 18.38 and a beta of 1.65. Rent-A-Center has a 12 month low of $18.88 and a 12 month high of $67.76. The business has a fifty day moving average of $23.29 and a 200 day moving average of $28.82. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.73 and a current ratio of 3.25.
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Rent-A-Center (NASDAQ:RCII – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. Rent-A-Center had a net margin of 1.87% and a return on equity of 48.47%. The company’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.32 earnings per share. Equities analysts predict that Rent-A-Center will post 4.6 EPS for the current year.
Insider Buying and Selling
In related news, Director Jeffrey J. Brown bought 1,223 shares of the company’s stock in a transaction that occurred on Tuesday, July 12th. The stock was purchased at an average price of $20.69 per share, for a total transaction of $25,303.87. Following the completion of the transaction, the director now owns 75,669 shares in the company, valued at $1,565,591.61. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is owned by company insiders.
Institutional Investors Weigh In On Rent-A-Center
Hedge funds have recently bought and sold shares of the business. Citigroup Inc. raised its stake in Rent-A-Center by 7.9% during the fourth quarter. Citigroup Inc. now owns 55,315 shares of the company’s stock valued at $2,657,000 after purchasing an additional 4,069 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in Rent-A-Center during the fourth quarter valued at $264,000. Ieq Capital LLC purchased a new stake in Rent-A-Center during the first quarter valued at $50,808,000. State of New Jersey Common Pension Fund D raised its stake in Rent-A-Center by 43.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 61,769 shares of the company’s stock valued at $2,967,000 after purchasing an additional 18,791 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Rent-A-Center by 54.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,614 shares of the company’s stock valued at $366,000 after purchasing an additional 2,684 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.
Rent-A-Center Company Profile
Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a lease-to-own basis. The company operates in four segments: Rent-A-Center Business, Acima, Mexico, and Franchising. It offers furniture and accessories, appliances, consumer electronics, computers, tablets and smartphones, tools, tires, handbags, and other accessories under rental purchase agreements.
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