PROG (NYSE:PRG) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of PROG (NYSE:PRG) from a buy rating to a strong-buy rating in a research report released on Saturday morning.

PRG has been the topic of several other research reports. B. Riley Financial boosted their target price on PROG from $57.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday. Zacks Research cut PROG from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. TD Cowen boosted their price objective on PROG from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Weiss Ratings upgraded PROG from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 24th. Finally, Stephens raised their target price on PROG from $40.00 to $47.50 and gave the company an “overweight” rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, PROG currently has an average rating of “Moderate Buy” and a consensus price target of $49.44.

PROG Stock Performance

Shares of PRG opened at $43.88 on Friday. The firm has a market capitalization of $1.76 billion, a PE ratio of 12.12 and a beta of 1.78. The company has a quick ratio of 2.41, a current ratio of 4.03 and a debt-to-equity ratio of 1.10. The firm has a 50-day moving average price of $41.19 and a 200 day moving average price of $35.44. PROG has a 52-week low of $25.80 and a 52-week high of $47.73.

PROG (NYSE:PRG) last released its quarterly earnings results on Wednesday, July 29th. The fintech holding company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.24. The company had revenue of $719.72 million for the quarter, compared to the consensus estimate of $713.50 million. PROG had a net margin of 5.57% and a return on equity of 21.88%. PROG has set its Q3 2026 guidance at 1.000-1.200 EPS and its FY 2026 guidance at 4.750-5.000 EPS. On average, sell-side analysts anticipate that PROG will post 4.95 earnings per share for the current fiscal year.

PROG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, May 19th. PROG’s payout ratio is 15.47%.

Institutional Trading of PROG

A number of hedge funds have recently modified their holdings of PRG. First Trust Advisors LP boosted its stake in shares of PROG by 588.0% during the 1st quarter. First Trust Advisors LP now owns 840,029 shares of the fintech holding company’s stock valued at $24,100,000 after buying an additional 717,932 shares during the period. SG Americas Securities LLC increased its stake in shares of PROG by 113.5% in the fourth quarter. SG Americas Securities LLC now owns 40,807 shares of the fintech holding company’s stock worth $1,203,000 after acquiring an additional 21,698 shares during the last quarter. Dean Capital Management raised its holdings in shares of PROG by 310.2% during the first quarter. Dean Capital Management now owns 57,368 shares of the fintech holding company’s stock worth $1,646,000 after acquiring an additional 43,384 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of PROG by 30.0% during the first quarter. Bank of New York Mellon Corp now owns 612,601 shares of the fintech holding company’s stock worth $17,576,000 after acquiring an additional 141,221 shares in the last quarter. Finally, Moran Wealth Management LLC raised its holdings in shares of PROG by 91.2% during the fourth quarter. Moran Wealth Management LLC now owns 124,321 shares of the fintech holding company’s stock worth $3,666,000 after acquiring an additional 59,297 shares in the last quarter. Hedge funds and other 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.