PROG (NYSE:PRG) Raised to Strong-Buy at Zacks Research

PROG (NYSE:PRG) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Wall Street Zen upgraded PROG from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. B. Riley Financial reissued a “buy” rating on shares of PROG in a research note on Thursday, April 30th. Weiss Ratings downgraded shares of PROG from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. TD Cowen raised their price objective on shares of PROG from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Stephens raised their price objective on shares of PROG from $40.00 to $47.50 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.70.

PROG Trading Up 2.1%

PRG opened at $33.74 on Tuesday. The firm has a market cap of $1.35 billion, a P/E ratio of 9.22 and a beta of 1.83. PROG has a 12 month low of $25.80 and a 12 month high of $41.14. The company has a current ratio of 4.27, a quick ratio of 2.41 and a debt-to-equity ratio of 1.21. The stock has a 50-day moving average of $30.95 and a 200 day moving average of $31.23.

PROG (NYSE:PRG) last released its quarterly earnings results on Wednesday, April 29th. The fintech holding company reported $1.24 EPS for the quarter, topping the consensus estimate of $0.78 by $0.46. The company had revenue of $742.67 million during the quarter, compared to analyst estimates of $732.70 million. PROG had a return on equity of 21.94% and a net margin of 5.88%.The firm’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $0.90 earnings per share. PROG has set its Q2 2026 guidance at 1.050-1.050 EPS. As a group, research analysts forecast that PROG will post 4.7 EPS for the current year.

Institutional Trading of PROG

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its holdings in PROG by 142.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 62,609 shares of the fintech holding company’s stock valued at $1,926,000 after buying an additional 36,788 shares during the period. Vest Financial LLC purchased a new position in PROG during the third quarter valued at approximately $1,312,000. JPMorgan Chase & Co. increased its holdings in PROG by 7.5% during the third quarter. JPMorgan Chase & Co. now owns 485,574 shares of the fintech holding company’s stock valued at $15,713,000 after buying an additional 33,961 shares during the period. Denali Advisors LLC purchased a new position in PROG during the third quarter valued at approximately $2,686,000. Finally, Portolan Capital Management LLC purchased a new position in PROG during the third quarter valued at approximately $4,859,000. Institutional investors own 97.92% of the company’s stock.

PROG Company Profile

PROG Holdings, Inc, formerly known as Aaron’s, is a North American provider of lease-to-own and consumer finance solutions. The company operates through two primary segments: Aaron’s Business Solutions and Progressive Financial Services. Through Aaron’s Business Solutions, PROG offers customers access to furniture, electronics, home appliances and technology products via lease ownership arrangements, serving both individual consumers and small businesses.

The Progressive Financial Services segment provides lease-purchase and retail point-of-sale financing programs to customers with limited credit histories.