Rent-A-Center (NASDAQ:RCII) had its price target raised by stock analysts at Raymond James from $65.00 to $70.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “strong-buy” rating on the stock. Raymond James’ price target suggests a potential upside of 21.51% from the stock’s previous close.
RCII has been the topic of a number of other research reports. Zacks Investment Research cut shares of Rent-A-Center from a “strong-buy” rating to a “hold” rating and set a $60.00 target price on the stock. in a research report on Tuesday, April 27th. KeyCorp boosted their price objective on shares of Rent-A-Center from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, February 26th. Finally, Loop Capital boosted their price objective on shares of Rent-A-Center from $65.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, May 3rd. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Rent-A-Center has a consensus rating of “Buy” and a consensus target price of $59.50.
NASDAQ RCII opened at $57.61 on Thursday. The company has a market capitalization of $3.82 billion, a P/E ratio of 16.70 and a beta of 1.68. The company has a fifty day moving average of $57.87 and a 200-day moving average of $47.35. Rent-A-Center has a 52-week low of $23.15 and a 52-week high of $64.79. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.74 and a current ratio of 2.40.
In other news, EVP Anthony J. Blasquez sold 19,972 shares of the company’s stock in a transaction that occurred on Friday, February 26th. The shares were sold at an average price of $54.07, for a total value of $1,079,886.04. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey J. Brown bought 26,996 shares of the company’s stock in a transaction dated Friday, February 26th. The stock was purchased at an average price of $55.56 per share, for a total transaction of $1,499,897.76. The disclosure for this purchase can be found here. Insiders have sold 51,344 shares of company stock worth $2,899,369 in the last three months. 0.80% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of RCII. Norges Bank bought a new position in shares of Rent-A-Center in the fourth quarter worth approximately $25,783,000. BlackRock Inc. lifted its position in Rent-A-Center by 6.5% during the fourth quarter. BlackRock Inc. now owns 7,735,401 shares of the company’s stock valued at $296,186,000 after purchasing an additional 469,755 shares during the period. Hood River Capital Management LLC lifted its position in Rent-A-Center by 40.6% during the fourth quarter. Hood River Capital Management LLC now owns 1,464,904 shares of the company’s stock valued at $56,091,000 after purchasing an additional 422,933 shares during the period. Kennedy Capital Management Inc. bought a new position in Rent-A-Center during the first quarter valued at approximately $20,107,000. Finally, Canada Pension Plan Investment Board bought a new position in Rent-A-Center during the fourth quarter valued at approximately $10,805,000. Hedge funds and other institutional investors own 93.94% of the company’s stock.
Rent-A-Center Company Profile
Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a lease-to-own basis. The company operates in four segments: Rent-A-Center Business, Preferred Lease, Mexico, and Franchising. It offers furniture and accessories, appliances, consumer electronics, computers, tablets and smartphones, tools, tires, handbags, and other accessories under rental purchase agreements.
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