Analysts Set PROG Holdings, Inc (NYSE:PRG) PT at $47.36

Shares of PROG Holdings, Inc (NYSE:PRG) have been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $47.3571.

A number of research firms recently weighed in on PRG. B. Riley Financial restated a “buy” rating on shares of PROG in a report on Thursday, April 30th. Loop Capital downgraded PROG from a “buy” rating to a “hold” rating and set a $48.00 price target for the company. in a research note on Wednesday, July 1st. Stephens boosted their price objective on PROG from $40.00 to $47.50 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Raymond James Financial reissued an “outperform” rating and issued a $45.00 price objective on shares of PROG in a research note on Thursday, April 30th. Finally, Wall Street Zen downgraded PROG from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 14th.

PROG Stock Performance

Shares of PRG stock opened at $45.07 on Wednesday. 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 firm has a fifty day simple moving average of $40.61 and a two-hundred day simple moving average of $35.22. PROG has a 12 month low of $25.80 and a 12 month high of $47.73. The firm has a market capitalization of $1.81 billion, a PE ratio of 12.31 and a beta of 1.78.

PROG (NYSE:PRG) last released its quarterly earnings data on Wednesday, April 29th. The fintech holding company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.46. The firm had revenue of $742.67 million for the quarter, compared to analyst estimates of $732.70 million. PROG had a net margin of 5.88% and a return on equity of 21.94%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $0.90 earnings per share. Analysts forecast that PROG will post 4.7 EPS for the current fiscal year.

PROG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were issued a dividend of $0.14 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.56 annualized dividend and a yield of 1.2%. PROG’s dividend payout ratio is 15.30%.

Hedge Funds Weigh In On PROG

Large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its holdings in PROG by 436.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,824,091 shares of the fintech holding company’s stock worth $53,792,000 after purchasing an additional 1,483,751 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of PROG by 588.0% in the 1st quarter. First Trust Advisors LP now owns 840,029 shares of the fintech holding company’s stock worth $24,100,000 after buying an additional 717,932 shares during the last quarter. UBS Group AG grew its holdings in shares of PROG by 102.4% in the third quarter. UBS Group AG now owns 823,663 shares of the fintech holding company’s stock valued at $26,654,000 after acquiring an additional 416,658 shares in the last quarter. LSV Asset Management grew its holdings in shares of PROG by 37.7% in the fourth quarter. LSV Asset Management now owns 1,159,874 shares of the fintech holding company’s stock valued at $34,205,000 after acquiring an additional 317,600 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of PROG by 62.7% during the first quarter. Millennium Management LLC now owns 673,405 shares of the fintech holding company’s stock valued at $17,913,000 after acquiring an additional 259,630 shares during the last quarter. 97.92% of the stock is currently owned by institutional investors.

About PROG

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.