Upbound Group’s (UPBD) Outperform Rating Reaffirmed at Raymond James

Raymond James restated their outperform rating on shares of Upbound Group (NASDAQ:UPBD) in a research note released on Friday,Benzinga reports. Raymond James currently has a $35.00 price target on the stock, down from their previous price target of $40.00.

Separately, Loop Capital reduced their price target on Upbound Group from $33.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.60.

Upbound Group Stock Up 1.9 %

UPBD opened at $24.16 on Friday. The firm has a market cap of $1.40 billion, a P/E ratio of 10.93 and a beta of 1.90. The business’s fifty day simple moving average is $23.09 and its 200 day simple moving average is $27.94. Upbound Group has a 52 week low of $19.69 and a 52 week high of $38.72. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.08.

Upbound Group (NASDAQ:UPBD) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.06. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.13 billion. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 earnings per share. As a group, equities research analysts anticipate that Upbound Group will post 4.28 EPS for the current fiscal year.

Upbound Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Wednesday, April 2nd were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 6.46%. The ex-dividend date was Wednesday, April 2nd. Upbound Group’s dividend payout ratio is currently 70.59%.

Insider Activity

In other news, Director Jeffrey J. Brown purchased 1,694 shares of the stock in a transaction on Tuesday, April 22nd. The stock was purchased at an average price of $19.89 per share, with a total value of $33,693.66. Following the completion of the transaction, the director now owns 88,074 shares in the company, valued at approximately $1,751,791.86. The trade was a 1.96 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Fahmi Karam acquired 11,500 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was purchased at an average price of $25.82 per share, for a total transaction of $296,930.00. Following the completion of the acquisition, the chief financial officer now owns 164,672 shares in the company, valued at approximately $4,251,831.04. This trade represents a 7.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Upbound Group

Several large investors have recently made changes to their positions in UPBD. New York State Teachers Retirement System increased its holdings in Upbound Group by 0.4% in the 4th quarter. New York State Teachers Retirement System now owns 80,938 shares of the company’s stock valued at $2,361,000 after purchasing an additional 360 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Upbound Group by 12.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,785 shares of the company’s stock valued at $110,000 after buying an additional 429 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Upbound Group by 59.9% during the 1st quarter. TD Private Client Wealth LLC now owns 1,311 shares of the company’s stock valued at $31,000 after buying an additional 491 shares during the period. CWM LLC raised its holdings in shares of Upbound Group by 35.5% during the 1st quarter. CWM LLC now owns 1,880 shares of the company’s stock valued at $45,000 after buying an additional 493 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in Upbound Group by 2.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 24,100 shares of the company’s stock worth $577,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 90.30% of the company’s stock.

Upbound Group Company Profile

Upbound Group, Inc leases household durable goods to customers on a lease-to-own basis in the United States, Puerto Rico, and Mexico. It operates through four segments: Rent-A-Center, Acima, Mexico, and Franchising. The company's brands, such as Rent-A-Center and Acima that facilitate consumer transactions across a range of store-based and virtual channels.