PROG Holdings, Inc (NYSE:PRG) Stock Has Consensus Target Price of $47.38 According to Brokerages

PROG Holdings, Inc (NYSE:PRG) has received an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $47.38.

A number of equities analysts have recently weighed in on the company. Weiss Ratings lowered PROG from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 30th. B. Riley Financial lifted their price target on PROG from $57.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Wall Street Zen downgraded PROG from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 6th. Zacks Research downgraded PROG from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Finally, KeyCorp upped their price objective on PROG from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, July 30th.

Institutional Investors Weigh In On PROG

Institutional investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its position in shares of PROG by 12.5% during the 2nd quarter. Wellington Management Group LLP now owns 697,324 shares of the fintech holding company’s stock valued at $32,502,000 after acquiring an additional 77,291 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of PROG during the 2nd quarter worth $31,229,000. First Trust Advisors LP increased its position in shares of PROG by 588.0% in the first quarter. First Trust Advisors LP now owns 840,029 shares of the fintech holding company’s stock worth $24,100,000 after purchasing an additional 717,932 shares during the period. Ancora Advisors LLC bought a new position in shares of PROG in the second quarter worth $22,288,000. Finally, Principal Financial Group Inc. raised its stake in PROG by 6.5% in the first quarter. Principal Financial Group Inc. now owns 292,744 shares of the fintech holding company’s stock valued at $8,399,000 after purchasing an additional 17,789 shares in the last quarter. Institutional investors own 97.92% of the company’s stock.

PROG Stock Down 2.5%

PROG stock opened at $38.91 on Friday. The stock has a market cap of $1.55 billion, a P/E ratio of 10.49 and a beta of 1.83. The company has a quick ratio of 2.25, a current ratio of 3.81 and a debt-to-equity ratio of 1.07. PROG has a twelve month low of $25.18 and a twelve month high of $47.73. The company’s 50-day moving average price is $33.95 and its two-hundred day moving average price is $35.76.

PROG (NYSE:PRG) last issued its quarterly earnings data on Wednesday, October 28th. The fintech holding company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.03). PROG had a return on equity of 22.01% and a net margin of 5.46%. The company had revenue of $725.78 million for the quarter, compared to analyst estimates of $735.28 million. As a group, analysts expect that PROG will post 4.77 EPS for the current year.

About PROG

PROG Holdings, Inc is a financial technology company that provides consumer payment and lease-to-own solutions through its operating businesses. Its services are designed to help consumers acquire household goods and other merchandise through retail stores, e-commerce websites and other merchant channels.

The company’s primary business is Progressive Leasing, a lease-to-own provider that gives consumers an alternative to traditional credit when purchasing products such as furniture, appliances, electronics, mattresses and other household merchandise.