FirstCash (NYSE:FCFS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “FirstCash Inc. is an operator of pawn stores. The company focuses on serving cash and credit constrained consumers through its retail pawn locations, which buy and sell jewelry, consumer electronics, power tools, household appliances, sporting goods, musical instruments and other merchandise. It operates primarily in the U.S., Mexico, Guatemala and El Salvador. FirstCash, Inc., formerly known as First Cash Financial Services Inc., is based in Arlington, United States. “
A number of other analysts have also recently weighed in on FCFS. ValuEngine cut FirstCash from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Wedbush set a $75.00 price target on FirstCash and gave the company a “buy” rating in a research note on Monday, January 8th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. FirstCash presently has a consensus rating of “Buy” and a consensus target price of $71.83.
FirstCash (NYSE:FCFS) last announced its quarterly earnings data on Thursday, February 1st. The credit services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.10. FirstCash had a return on equity of 8.86% and a net margin of 8.08%. The business had revenue of $480.21 million for the quarter, compared to analysts’ expectations of $467.32 million. During the same period last year, the firm earned $0.77 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. sell-side analysts expect that FirstCash will post 3.31 earnings per share for the current fiscal year.
In other news, insider Thomas Brent Stuart acquired 1,080 shares of the company’s stock in a transaction on Monday, February 5th. The shares were bought at an average price of $73.64 per share, with a total value of $79,531.20. Following the completion of the acquisition, the insider now owns 8,283 shares in the company, valued at approximately $609,960.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO R Douglas Orr sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $73.43, for a total value of $367,150.00. Following the transaction, the chief financial officer now directly owns 172,000 shares in the company, valued at approximately $12,629,960. The disclosure for this sale can be found here. Company insiders own 2.75% of the company’s stock.
Several hedge funds have recently modified their holdings of the business. William Blair Investment Management LLC grew its holdings in shares of FirstCash by 1.4% during the fourth quarter. William Blair Investment Management LLC now owns 1,928,144 shares of the credit services provider’s stock worth $130,053,000 after purchasing an additional 26,240 shares during the last quarter. Earnest Partners LLC grew its holdings in shares of FirstCash by 1.6% during the third quarter. Earnest Partners LLC now owns 1,474,115 shares of the credit services provider’s stock worth $93,090,000 after buying an additional 22,690 shares during the last quarter. Grandeur Peak Global Advisors LLC grew its holdings in shares of FirstCash by 1.6% during the fourth quarter. Grandeur Peak Global Advisors LLC now owns 881,589 shares of the credit services provider’s stock worth $59,463,000 after buying an additional 13,800 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of FirstCash by 99.2% during the fourth quarter. Renaissance Technologies LLC now owns 678,224 shares of the credit services provider’s stock worth $45,746,000 after buying an additional 337,700 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of FirstCash by 1.5% during the fourth quarter. Wells Fargo & Company MN now owns 422,596 shares of the credit services provider’s stock worth $28,504,000 after buying an additional 6,313 shares during the last quarter. 96.24% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION NOTICE: This news story was first published by Markets Daily and is the property of of Markets Daily. If you are viewing this news story on another publication, it was illegally stolen and republished in violation of U.S. & international copyright law. The legal version of this news story can be read at https://www.themarketsdaily.com/2018/03/14/firstcash-fcfs-stock-rating-lowered-by-zacks-investment-research.html.
FirstCash Company Profile
FirstCash, Inc, formerly First Cash Financial Services, Inc, is an operator of retail-based pawn stores in the United States and Latin America. The Company’s primary business is the operation of full-service pawn stores, which make small pawn loans secured by personal property, such as consumer electronics, jewelry, power tools, household appliances, sporting goods and musical instruments.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for FirstCash Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstCash and related companies with MarketBeat.com's FREE daily email newsletter.