PROG Holdings, Inc. (NYSE:PRG) Receives Average Rating of “Moderate Buy” from Analysts

PROG Holdings, Inc. (NYSE:PRG) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $50.40.

A number of research analysts have recently issued reports on PRG shares. TD Cowen raised their price target on shares of PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and lifted their target price for the company from $41.00 to $55.00 in a research note on Monday, August 19th. KeyCorp upped their target price on PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Finally, Jefferies Financial Group raised their price target on PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st.

Institutional Trading of PROG

Several hedge funds have recently added to or reduced their stakes in the business. Jupiter Asset Management Ltd. raised its stake in shares of PROG by 83.6% during the first quarter. Jupiter Asset Management Ltd. now owns 260,713 shares of the company’s stock valued at $8,979,000 after purchasing an additional 118,698 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of PROG by 45.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 63,994 shares of the company’s stock worth $2,199,000 after acquiring an additional 19,924 shares during the period. Keeley Teton Advisors LLC boosted its holdings in shares of PROG by 35.3% in the first quarter. Keeley Teton Advisors LLC now owns 49,574 shares of the company’s stock valued at $1,707,000 after acquiring an additional 12,928 shares in the last quarter. Sei Investments Co. acquired a new position in shares of PROG during the first quarter valued at approximately $815,000. Finally, Vanguard Group Inc. increased its stake in shares of PROG by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 5,638,231 shares of the company’s stock valued at $174,278,000 after acquiring an additional 105,101 shares during the period. Institutional investors own 97.92% of the company’s stock.

PROG Stock Up 1.5 %

NYSE:PRG opened at $49.50 on Thursday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.80 and a current ratio of 3.87. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 20.20 and a beta of 2.11. PROG has a one year low of $26.39 and a one year high of $50.28. The stock has a 50-day simple moving average of $46.39 and a 200 day simple moving average of $39.27.

PROG (NYSE:PRG) last issued its earnings results on Wednesday, July 24th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.70 by $0.22. The company had revenue of $592.16 million during the quarter, compared to analyst estimates of $573.23 million. PROG had a return on equity of 26.30% and a net margin of 4.57%. The business’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 EPS. Sell-side analysts predict that PROG will post 3.34 EPS for the current fiscal year.

PROG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Tuesday, August 20th. PROG’s dividend payout ratio (DPR) is 19.59%.

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.