FirstCash (NASDAQ:FCFS) Given New $235.00 Price Target at TD Cowen

FirstCash (NASDAQ:FCFS) had its price target cut by stock analysts at TD Cowen from $242.00 to $235.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen‘s price objective would indicate a potential upside of 28.15% from the company’s current price.

FCFS has been the topic of a number of other research reports. Weiss Ratings upgraded FirstCash from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Canaccord Genuity Group boosted their price objective on FirstCash from $252.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, October 15th. Loop Capital upgraded FirstCash from a “hold” rating to a “buy” rating and set a $255.00 price objective on the stock in a research report on Monday, August 10th. Wall Street Zen downgraded FirstCash from a “buy” rating to a “hold” rating in a report on Saturday, October 10th. Finally, Stephens restated an “overweight” rating and set a $250.00 price target on shares of FirstCash in a report on Thursday, October 1st. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $251.25.

FirstCash Stock Down 0.8%

FCFS stock opened at $183.37 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.51 and a current ratio of 4.89. FirstCash has a fifty-two week low of $146.77 and a fifty-two week high of $238.93. The stock’s 50 day simple moving average is $217.31 and its 200 day simple moving average is $216.31. The company has a market cap of $7.95 billion, a P/E ratio of 20.91 and a beta of 0.55.

FirstCash (NASDAQ:FCFS) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.05. FirstCash had a net margin of 9.42% and a return on equity of 19.65%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $1.86 EPS. FirstCash’s revenue was up 17.7% compared to the same quarter last year. On average, research analysts expect that FirstCash will post 11.59 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Thomas Stuart sold 5,348 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $214.63, for a total value of $1,147,841.24. Following the transaction, the chief operating officer owned 135,498 shares of the company’s stock, valued at approximately $29,081,935.74. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO R. Orr sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $216.00, for a total value of $432,000.00. Following the transaction, the chief financial officer owned 34,734 shares of the company’s stock, valued at approximately $7,502,544. The trade was a 5.44% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 14,098 shares of company stock valued at $3,051,281. 2.86% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FirstCash

Hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC raised its holdings in shares of FirstCash by 827.6% in the third quarter. Sterling Capital Management LLC now owns 1,345 shares of the company’s stock worth $284,000 after buying an additional 1,200 shares during the period. Inspire Investing LLC grew its stake in FirstCash by 10.2% in the third quarter. Inspire Investing LLC now owns 2,359 shares of the company’s stock valued at $498,000 after purchasing an additional 218 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of FirstCash in the 3rd quarter worth $57,000. Crossmark Global Holdings Inc. grew its holdings in shares of FirstCash by 11.6% during the third quarter. Crossmark Global Holdings Inc. now owns 1,996 shares of the company’s stock valued at $422,000 after buying an additional 207 shares during the last quarter. Finally, MBM Wealth Consultants LLC increased its stake in shares of FirstCash by 5.7% in the third quarter. MBM Wealth Consultants LLC now owns 6,662 shares of the company’s stock worth $1,407,000 after acquiring an additional 358 shares during the period. Hedge funds and other institutional investors own 80.30% of the company’s stock.

FirstCash News Summary

Here are the key news stories impacting FirstCash this week:

• Positive Sentiment: FirstCash delivered record third-quarter revenue of $1.10 billion, up 17.7% year over year, while adjusted EPS of $2.68 exceeded analysts’ $2.63 estimate. GAAP EPS rose 25% to $2.33, and net income increased 22% to $101 million. FirstCash Reports Record Third Quarter Operating Results
• Positive Sentiment: The core pawn business remained the primary catalyst: U.S., Latin American and U.K. pawn revenue and segment earnings each grew 28%. Pawn receivables reached a record $908 million, while the company added 14 stores during the quarter and 42 year to date.
• Positive Sentiment: Management maintained a favorable outlook, calling for continued double-digit pawn revenue growth and operating-margin expansion in the fourth quarter. The potential Ramsdens acquisition could add more than 175 U.K. locations, although it still requires antitrust approval. Can FirstCash Keep Its Pawn Business Momentum?
• Positive Sentiment: The board raised the quarterly dividend 9.5% to $0.46 per share, equal to $1.84 annually, and FirstCash repurchased $123 million of stock in the quarter, bringing year-to-date buybacks to $250 million.
• Neutral Sentiment: American First Finance remains a drag on the consolidated picture. Third-quarter transaction volume fell 15% and net revenue declined 20%, reflecting weakness in furniture and other discretionary retail, though charge-off rates improved modestly.
• Negative Sentiment: The Law Offices of Frank R. Cruz said it is investigating potential securities-law violations related to FirstCash’s disclosures. The announcement does not establish wrongdoing, but it adds legal and headline risk after the stock’s recent decline. Law Offices of Frank R. Cruz Investigation

FirstCash Company Profile

FirstCash Holdings, Inc is a specialty financial services and retail company that operates pawn stores in the United States and Mexico. Through its pawn operations, the company provides short-term, collateral-backed loans to consumers who pledge personal property as security. Customers can reclaim their pledged items by repaying the loan and applicable fees within the required period.

The company also generates revenue by selling merchandise that has been forfeited on pawn loans or acquired through other purchasing activities.