Rent-A-Center (NASDAQ:RCII – Get Rating) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a report released on Friday.
RCII has been the subject of a number of other research reports. KeyCorp dropped their price objective on Rent-A-Center from $41.00 to $37.00 and set an "overweight" rating for the company in a research note on Friday. Stephens downgraded 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 note on Wednesday, June 29th. Finally, Bank of America reduced their price objective on shares of Rent-A-Center from $37.00 to $30.00 in a research report on Friday.
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Rent-A-Center Price Performance
NASDAQ:RCII traded down $4.82 during trading hours on Friday, hitting $17.51. 4,221,499 shares of the stock traded hands, compared to its average volume of 938,509. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 24.66 and a beta of 1.61. Rent-A-Center has a 1 year low of $17.50 and a 1 year high of $58.79. The stock has a 50 day moving average price of $25.99 and a 200 day moving average price of $25.00. The company has a quick ratio of 0.83, a current ratio of 3.37 and a debt-to-equity ratio of 2.45.
Rent-A-Center (NASDAQ:RCII – Get Rating) last released its earnings results on Wednesday, August 3rd. The company reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.15. The company had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.06 billion. Rent-A-Center had a net
margin of 1.02% and a return on equity of 46.90%. During the same quarter in the previous year, the company earned $1.63 EPS. Sell-side analysts forecast that Rent-A-Center will post 4.2 EPS for the current fiscal year.
Insider Buying and Selling
In other news, Director Jeffrey J. Brown purchased 1,223 shares of the business's stock in a transaction on Tuesday, July 12th. The stock was acquired at an average price of $20.69 per share, for a total transaction of $25,303.87. Following the acquisition, the director now directly owns 75,669 shares of the company's stock, valued at approximately $1,565,591.61. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.00% of the stock is owned by company insiders.
Hedge Funds Weigh In On Rent-A-Center
Several institutional investors have recently bought and sold shares of RCII. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Rent-A-Center by 11.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 4,378 shares of the company's stock valued at $110,000 after purchasing an additional 441 shares during the last quarter. California Public Employees Retirement System boosted its stake in Rent-A-Center by 0.5% during the second quarter. California Public Employees Retirement System now owns 100,627 shares of the company's stock worth $1,957,000 after buying an additional 484 shares during the period. Legacy Wealth Asset Management LLC increased its position in Rent-A-Center by 5.5% during the first quarter. Legacy Wealth Asset Management LLC now owns 12,730 shares of the company's stock valued at $321,000 after acquiring an additional 664 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Rent-A-Center by 4.7% in the first quarter. SummerHaven Investment Management LLC now owns 16,832 shares of the company's stock valued at $424,000 after acquiring an additional 752 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in shares of Rent-A-Center by 7.1% in the first quarter. Teacher Retirement System of Texas now owns 12,346 shares of the company's stock valued at $311,000 after acquiring an additional 822 shares during the period. Institutional investors own 83.45% of the company's stock.
About Rent-A-Center
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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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