PROG (NYSE:PRG) Receives Overweight Rating from Stephens

PROG (NYSE:PRG)‘s stock had its “overweight” rating reiterated by research analysts at Stephens in a research report issued on Thursday,Benzinga reports. They presently have a $60.00 target price on the stock. Stephens’ price target points to a potential upside of 40.38% from the company’s current price.

A number of other equities research analysts also recently commented on the company. KeyCorp lifted their target price on PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Jefferies Financial Group boosted their price objective on shares of PROG from $50.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. TD Cowen raised shares of PROG to a “strong-buy” rating in a research note on Friday, November 29th. Finally, Raymond James upgraded shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price objective on the stock in a report on Thursday, October 24th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $53.83.

PROG Trading Up 1.0 %

Shares of PRG stock opened at $42.74 on Thursday. The company has a current ratio of 4.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.94. PROG has a twelve month low of $27.84 and a twelve month high of $50.28. The company’s 50-day moving average price is $45.62 and its 200-day moving average price is $43.62. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 11.84 and a beta of 2.15.

PROG (NYSE:PRG) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.01. The company had revenue of $606.10 million for the quarter, compared to analyst estimates of $601.86 million. PROG had a net margin of 6.55% and a return on equity of 24.56%. PROG’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 EPS. As a group, equities analysts predict that PROG will post 3.36 earnings per share for the current year.

Insider Buying and Selling at PROG

In related news, insider Michael Todd King sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $46.97, for a total transaction of $70,455.00. Following the sale, the insider now directly owns 37,017 shares in the company, valued at approximately $1,738,688.49. This represents a 3.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian Garner sold 5,000 shares of PROG stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $49.29, for a total transaction of $246,450.00. Following the completion of the transaction, the chief financial officer now owns 107,720 shares of the company’s stock, valued at $5,309,518.80. This represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,207 shares of company stock valued at $5,759,152 in the last 90 days. Company insiders own 2.74% of the company’s stock.

Institutional Investors Weigh In On PROG

A number of large investors have recently modified their holdings of PRG. FMR LLC raised its position in shares of PROG by 1.3% during the 3rd quarter. FMR LLC now owns 2,430,318 shares of the company’s stock worth $117,846,000 after acquiring an additional 30,030 shares in the last quarter. State Street Corp boosted its holdings in PROG by 6.9% in the third quarter. State Street Corp now owns 1,776,377 shares of the company’s stock valued at $86,137,000 after purchasing an additional 114,498 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in PROG by 0.8% in the second quarter. D. E. Shaw & Co. Inc. now owns 896,075 shares of the company’s stock valued at $31,076,000 after purchasing an additional 6,803 shares during the last quarter. American Century Companies Inc. raised its holdings in PROG by 14.1% during the second quarter. American Century Companies Inc. now owns 684,705 shares of the company’s stock worth $23,746,000 after purchasing an additional 84,497 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of PROG by 1.6% during the 3rd quarter. Wellington Management Group LLP now owns 414,305 shares of the company’s stock worth $20,090,000 after buying an additional 6,517 shares during the last quarter. 97.92% of the stock is owned by hedge funds and other institutional investors.

About PROG

PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.