Rent-A-Center (NASDAQ:RCII) Now Covered by Analysts at StockNews.com

Posted by Lars Charter on Mar 19th, 2023

StockNews.com initiated coverage on shares of Rent-A-Center (NASDAQ:RCII – Get Rating) in a research report released on Wednesday morning. The brokerage issued a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. Loop Capital downgraded shares of Rent-A-Center from a buy rating to a hold rating and set a $30.00 target price for the company. in a research note on Monday, February 6th. Raymond James boosted their price objective on shares of Rent-A-Center from $28.00 to $31.00 and gave the stock an outperform rating in a research report on Monday, February 27th. Finally, Craig Hallum began coverage on Rent-A-Center in a research report on Monday, December 5th. They issued a buy rating and a $40.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $34.50.

Rent-A-Center Stock Performance

The company has a market capitalization of $1.49 billion, a PE ratio of 133.90 and a beta of 1.82. The company has a quick ratio of 0.93, a current ratio of 3.33 and a debt-to-equity ratio of 2.61. Rent-A-Center has a one year low of $16.82 and a one year high of $31.91. The firm has a 50-day moving average price of $25.89 and a 200 day moving average price of $23.98.

Rent-A-Center (NASDAQ:RCII – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.11. The firm had revenue of $990.50 million during the quarter, compared to analysts’ expectations of $990.45 million. Rent-A-Center had a return on equity of 40.50% and a net margin of 0.29%. The business’s revenue was down 15.4% on a year-over-year basis. During the same period last year, the firm posted $1.08 EPS. As a group, analysts forecast that Rent-A-Center will post 2.8 EPS for the current fiscal year.

Insider Buying and Selling

In other Rent-A-Center news, Director Jeffrey J. Brown acquired 1,084 shares of the business’s stock in a transaction that occurred on Tuesday, January 10th. The shares were acquired at an average cost of $24.20 per share, for a total transaction of $26,232.80. Following the completion of the acquisition, the director now directly owns 78,228 shares of the company’s stock, valued at approximately $1,893,117.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.00% of the stock is currently owned by insiders.

Institutional Trading of Rent-A-Center

Several institutional investors and hedge funds have recently made changes to their positions in the business. Aigen Investment Management LP acquired a new stake in shares of Rent-A-Center during the third quarter worth $422,000. Secure Asset Management LLC raised its position in shares of Rent-A-Center by 26.4% in the 3rd quarter. Secure Asset Management LLC now owns 19,662 shares of the company’s stock valued at $344,000 after acquiring an additional 4,102 shares during the period. FMR LLC raised its position in shares of Rent-A-Center by 34.4% in the 2nd quarter. FMR LLC now owns 7,855,208 shares of the company’s stock valued at $152,784,000 after acquiring an additional 2,011,123 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in Rent-A-Center by 2.0% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 44,667 shares of the company’s stock worth $782,000 after acquiring an additional 877 shares during the last quarter. Finally, Carolina Wealth Advisors LLC grew its holdings in Rent-A-Center by 1.2% during the third quarter. Carolina Wealth Advisors LLC now owns 184,685 shares of the company’s stock valued at $3,234,000 after purchasing an additional 2,182 shares during the period. Institutional investors own 86.08% of the company’s stock.

Rent-A-Center Company Profile

(Get Rating)

Rent-A-Center, Inc engages in the provision of furniture, electronics, appliances, computers, and smartphones through flexible rental purchase agreements. It operates through the following segments: Rent-A-Center Business, Preferred Lease, Mexico, and Franchising. The Rent-A-Center Business segment consists of company-owned rent-to-own stores in the United States and Puerto Rico.