Rent-A-Center Shares Down 11.1% Following Analyst Downgrade (RCII)
Shares of Rent-A-Center (NASDAQ:RCII) fell 11.1% during trading on Friday after Canaccord Genuity lowered their price target on the stock from $28.00 to $24.00, American Banking & Market News reports. Canaccord Genuity currently has a hold rating on the stock. Rent-A-Center traded as low as $25.31 and last traded at $25.83, with a volume of 2,248,395 shares changing hands. The stock had previously closed at $29.06.
RCII has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Rent-A-Center in a research note on Monday. They now have a $30.00 price target on the stock. Separately, analysts at TheStreet upgraded shares of Rent-A-Center from a “hold” rating to a “buy” rating in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $31.33.
The stock’s 50-day moving average is $28.71 and its 200-day moving average is $28.02. The company has a market cap of $1.363 billion and a P/E ratio of 14.15.
Rent-A-Center (NASDAQ:RCII) last released its earnings data on Monday, April 21st. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.01. The company had revenue of $833.00 million for the quarter, compared to the consensus estimate of $840.31 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. Analysts expect that Rent-A-Center will post $2.32 EPS for the current fiscal year.
Rent-A-Center, Inc is a rent-to-own operator in North America. It provides the customers the ownership of durable products, such as consumer electronics, appliances, computers, furniture and accessories, under rental purchase agreements with no long-term obligation.
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