BidaskClub upgraded shares of Rent-A-Center Inc. (NASDAQ:RCII) from a buy rating to a strong-buy rating in a research report released on Saturday, August 5th.
RCII has been the subject of a number of other research reports. Loop Capital restated a sell rating and issued a $8.00 price target on shares of Rent-A-Center in a report on Tuesday, July 18th. Raymond James Financial, Inc. upgraded Rent-A-Center from a market perform rating to a strong-buy rating and set a $15.00 target price for the company in a research note on Wednesday, April 12th. Stifel Nicolaus reiterated a hold rating and set a $11.50 target price on shares of Rent-A-Center in a research note on Sunday, April 23rd. Zacks Investment Research cut Rent-A-Center from a hold rating to a sell rating in a research note on Tuesday, July 4th. Finally, Jefferies Group LLC reduced their target price on Rent-A-Center from $12.00 to $9.00 and set a hold rating for the company in a research note on Wednesday, May 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $11.00.
Rent-A-Center (NASDAQ RCII) traded up 1.05% on Friday, hitting $12.50. 1,595,548 shares of the stock traded hands. Rent-A-Center has a 12-month low of $7.76 and a 12-month high of $13.89. The firm’s 50-day moving average price is $12.65 and its 200-day moving average price is $10.87. The stock’s market cap is $666.26 million.
Rent-A-Center (NASDAQ:RCII) last released its quarterly earnings results on Wednesday, July 26th. The company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.08. The company had revenue of $667.64 million during the quarter, compared to analysts’ expectations of $667.04 million. Rent-A-Center had a negative return on equity of 43.47% and a negative net margin of 5.57%. The firm’s revenue was down 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 EPS. On average, equities research analysts anticipate that Rent-A-Center will post $0.06 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 20th. Investors of record on Monday, July 3rd were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend was Thursday, June 29th.
In other news, Director Steven L. Pepper acquired 45,000 shares of Rent-A-Center stock in a transaction that occurred on Tuesday, May 23rd. The shares were purchased at an average cost of $10.93 per share, for a total transaction of $491,850.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.40% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its position in shares of Rent-A-Center by 1.1% in the second quarter. Public Employees Retirement System of Ohio now owns 24,038 shares of the company’s stock valued at $282,000 after buying an additional 263 shares during the period. Piedmont Investment Advisors LLC bought a new stake in shares of Rent-A-Center during the second quarter valued at $136,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Rent-A-Center during the second quarter valued at $120,000. Tower Research Capital LLC TRC raised its stake in shares of Rent-A-Center by 174.0% in the second quarter. Tower Research Capital LLC TRC now owns 15,842 shares of the company’s stock valued at $185,000 after buying an additional 10,061 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Rent-A-Center during the second quarter valued at $132,000.
Rent-A-Center Company Profile
Rent-A-Center, Inc is a rent-to-own operator in North America. The Company provides an opportunity to obtain ownership of products, such as consumer electronics, appliances, computers (including tablets), smartphones and furniture (including accessories), under rental purchase agreements. The Company operates in four segments: Core U.S., Acceptance Now, Mexico, and Franchising.
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