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 research note issued to investors on Friday.
A number of other equities research analysts have also weighed in on the company. KeyCorp lowered their target price on Rent-A-Center from $41.00 to $37.00 and set an "overweight" rating for the company in a research note on Friday. Bank of America lowered their price objective on Rent-A-Center from $37.00 to $30.00 in a research report on Friday. Finally, Stephens cut shares of Rent-A-Center from an "overweight" rating to an "equal weight" rating and set a $42.00 target price on the stock. in a report on Wednesday, June 29th.
Get Rent-A-Center alerts:Rent-A-Center Price Performance
Shares of RCII stock traded down $4.82 during trading hours on Friday, hitting $17.51. 4,221,499 shares of the company's stock were exchanged, compared to its average volume of 938,509. The company has a market capitalization of $1.04 billion, a PE ratio of 24.66 and a beta of 1.61. The company has a current ratio of 3.37, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. Rent-A-Center has a 12-month low of $17.50 and a 12-month high of $58.79. The business's 50 day simple moving average is $25.99 and its 200-day simple moving average is $25.00.
Rent-A-Center (NASDAQ:RCII – Get Rating) last released its earnings results on Wednesday, August 3rd. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.00 by $0.15. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates 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 last year, the firm earned $1.63 EPS. On average, equities research analysts anticipate that Rent-A-Center will post 4.2 earnings per share for the current year.Insiders Place Their Bets
In other Rent-A-Center news, Director Jeffrey J. Brown bought 1,223 shares of Rent-A-Center stock in a transaction dated Tuesday, July 12th. The shares were purchased at an average cost of $20.69 per share, with a total value of $25,303.87. Following the completion of the purchase, the director now owns 75,669 shares of the company's stock, valued at $1,565,591.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 11.00% of the company's stock.
Institutional Investors Weigh In On Rent-A-Center
Several institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its stake in Rent-A-Center by 2.1% in the first quarter. Envestnet Asset Management Inc. now owns 40,284 shares of the company's stock worth $1,015,000 after buying an additional 835 shares in the last quarter. Ieq Capital LLC bought a new position in shares of Rent-A-Center in the 1st quarter worth approximately $50,808,000. KBC Group NV lifted its stake in shares of Rent-A-Center by 187.9% in the 1st quarter. KBC Group NV now owns 53,097 shares of the company's stock valued at $1,338,000 after purchasing an additional 34,652 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of Rent-A-Center during the first quarter valued at approximately $547,000. Finally, Swiss National Bank grew its stake in Rent-A-Center by 6.7% in the first quarter. Swiss National Bank now owns 140,700 shares of the company's stock worth $3,544,000 after purchasing an additional 8,800 shares during the period. 83.45% of the stock is owned by hedge funds and other institutional investors.
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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