PROG (NYSE:PRG) had its target price cut by stock analysts at Truist Securities from $65.00 to $58.00 in a research note issued on Monday, Stock Target Advisor reports. Truist Securities’ target price points to a potential upside of 33.70% from the company’s current price.
Other analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of PROG from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 3rd. Northcoast Research reaffirmed a “neutral” rating on shares of PROG in a report on Thursday, March 4th. Truist reduced their target price on shares of PROG from $65.00 to $58.00 in a report on Monday. Finally, Morgan Stanley raised their target price on shares of PROG from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday, December 15th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $59.20.
Shares of PRG opened at $43.38 on Monday. The firm has a market capitalization of $2.94 billion, a PE ratio of -13.64, a PEG ratio of 0.86 and a beta of 1.95. PROG has a 1 year low of $22.11 and a 1 year high of $67.20. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.01 and a quick ratio of 1.16. The stock’s 50-day simple moving average is $46.41.
In other PROG news, VP George M. Sewell sold 958 shares of the stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $49.49, for a total value of $47,411.42. Following the transaction, the vice president now directly owns 3,244 shares in the company, valued at $160,545.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.78% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new position in shares of PROG during the fourth quarter worth approximately $26,000. Ellevest Inc. purchased a new position in shares of PROG during the fourth quarter worth approximately $43,000. Parkside Financial Bank & Trust purchased a new position in shares of PROG during the fourth quarter worth approximately $54,000. Bartlett & Co. LLC purchased a new position in shares of PROG during the fourth quarter worth approximately $55,000. Finally, First National Bank of South Miami purchased a new position in shares of PROG during the fourth quarter worth approximately $84,000. Institutional investors and hedge funds own 92.49% of the company’s stock.
PROG Company Profile
PROG Holdings, Inc operates as an omnichannel provider of lease-purchase solutions to underserved and credit-challenged customers. It operates in two segments, Progressive Leasing and Vive. The Progressive Leasing segment offers lease-purchase solutions to customers for various merchandize in the furniture, appliances, electronics, jewelry, mobile phones and accessories, mattresses, and automobile electronics and accessories markets through point-of-sale and e-commerce retail partners, as well in-store, mobile, and online solutions.
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