PROG Holdings, Inc (PRG) – What Are Investment Firms Thinking About This Stock?

Shares of PROG Holdings, Inc (NYSE:PRG) have been assigned an average rating of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $47.38.

Several research firms have weighed in on PRG. Zacks Research downgraded shares of PROG from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Jefferies Financial Group reduced their price objective on shares of PROG from $60.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, October 7th. B. Riley Financial boosted their target price on shares of PROG from $57.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Stephens decreased their target price on shares of PROG from $55.00 to $49.00 and set an “overweight” rating for the company in a research report on Thursday, October 29th. Finally, Loop Capital upgraded shares of PROG from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Thursday, October 8th.

PROG Stock Performance

Shares of PROG stock opened at $36.71 on Friday. The business has a 50-day simple moving average of $33.97 and a 200 day simple moving average of $35.68. PROG has a one year low of $25.18 and a one year high of $47.73. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.81 and a quick ratio of 2.25. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 9.89 and a beta of 1.83.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new stake in shares of PROG in the 2nd quarter worth approximately $34,000. Allworth Financial LP grew its holdings in PROG by 61.9% during the second quarter. Allworth Financial LP now owns 897 shares of the fintech holding company’s stock valued at $42,000 after purchasing an additional 343 shares during the period. Ameritas Advisory Services LLC bought a new position in PROG during the second quarter valued at $44,000. Sterling Capital Management LLC grew its holdings in PROG by 99.2% during the third quarter. Sterling Capital Management LLC now owns 1,006 shares of the fintech holding company’s stock valued at $31,000 after purchasing an additional 501 shares during the period. Finally, Global Assets Advisory LLC purchased a new stake in PROG in the first quarter worth $38,000. Hedge funds and other institutional investors own 97.92% of the company’s stock.

PROG Company Profile

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.