PROG Holdings, Inc. (NYSE:PRG) Receives $53.83 Consensus Price Target from Brokerages

Shares of PROG Holdings, Inc. (NYSE:PRG) have earned an average recommendation of “Buy” from the seven analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $53.83.

Several equities research analysts recently issued reports on the company. Stephens reissued an “overweight” rating and set a $60.00 price target on shares of PROG in a research report on Thursday, January 2nd. Raymond James raised shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a report on Thursday, October 24th. Finally, TD Cowen raised shares of PROG to a “strong-buy” rating in a report on Friday, November 29th.

PROG Stock Down 1.8 %

Shares of PROG stock opened at $42.74 on Wednesday. The company has a quick ratio of 2.34, a current ratio of 4.97 and a debt-to-equity ratio of 0.94. The business has a 50-day moving average price of $42.92 and a 200 day moving average price of $45.08. PROG has a fifty-two week low of $27.84 and a fifty-two week high of $50.28. The firm has a market cap of $1.78 billion, a P/E ratio of 11.84 and a beta of 2.18.

Institutional Investors Weigh In On PROG

Several large investors have recently made changes to their positions in the company. Whittier Trust Co. acquired a new position in shares of PROG during the third quarter valued at $26,000. Financial Management Professionals Inc. acquired a new stake in shares of PROG during the 3rd quarter valued at $33,000. Summit Securities Group LLC purchased a new stake in shares of PROG during the fourth quarter valued at $38,000. GAMMA Investing LLC boosted its holdings in shares of PROG by 72.0% in the third quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock worth $39,000 after buying an additional 337 shares during the period. Finally, Sterling Capital Management LLC grew its position in PROG by 765.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,082 shares of the company’s stock worth $46,000 after purchasing an additional 957 shares in the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

About PROG

PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.