Rent-A-Center Inc. (RCII) Given Consensus Recommendation of “Hold” by Analysts
Shares of Rent-A-Center Inc. (NASDAQ:RCII) have been assigned a consensus rating of “Hold” from the nine research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $10.75.
Several brokerages have recently commented on RCII. Stephens downgraded Rent-A-Center from an “equal weight” rating to an “underweight” rating in a research note on Friday, March 31st. Northcoast Research upgraded Rent-A-Center from a “neutral” rating to a “buy” rating in a research note on Friday, March 31st. Zacks Investment Research upgraded Rent-A-Center from a “sell” rating to a “hold” rating in a research note on Tuesday, March 21st. Stifel Nicolaus restated a “hold” rating and issued a $11.50 target price (up from $8.50) on shares of Rent-A-Center in a research note on Monday, April 17th. Finally, Loop Capital restated a “hold” rating and issued a $8.00 target price on shares of Rent-A-Center in a research note on Wednesday, April 12th.
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In related news, Director Steven L. Pepper purchased 45,000 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was acquired at an average price of $10.93 per share, for a total transaction of $491,850.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mark E. Speese purchased 100,000 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were bought at an average price of $11.70 per share, with a total value of $1,170,000.00. Following the purchase, the chairman now directly owns 844,627 shares in the company, valued at approximately $9,882,135.90. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,840,233 shares of company stock valued at $16,325,615 in the last quarter. Company insiders own 3.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new position in Rent-A-Center during the fourth quarter worth about $654,000. Comerica Bank increased its position in Rent-A-Center by 5.4% in the fourth quarter. Comerica Bank now owns 56,417 shares of the company’s stock worth $586,000 after buying an additional 2,898 shares during the period. State Street Corp increased its position in Rent-A-Center by 8.8% in the fourth quarter. State Street Corp now owns 1,593,327 shares of the company’s stock worth $17,927,000 after buying an additional 128,770 shares during the period. Martingale Asset Management L P increased its position in Rent-A-Center by 4.9% in the fourth quarter. Martingale Asset Management L P now owns 108,258 shares of the company’s stock worth $1,218,000 after buying an additional 5,014 shares during the period. Finally, Federated Investors Inc. PA increased its position in Rent-A-Center by 32.2% in the fourth quarter. Federated Investors Inc. PA now owns 149,442 shares of the company’s stock worth $1,681,000 after buying an additional 36,379 shares during the period. Institutional investors and hedge funds own 96.81% of the company’s stock.
Rent-A-Center (NASDAQ RCII) traded down 2.05% on Tuesday, reaching $11.48. The company’s stock had a trading volume of 921,332 shares. Rent-A-Center has a 52-week low of $7.76 and a 52-week high of $13.73. The stock’s market cap is $610.69 million. The firm’s 50-day moving average price is $11.80 and its 200-day moving average price is $10.34.
Rent-A-Center (NASDAQ:RCII) last issued its earnings results on Monday, May 1st. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.06. The company had revenue of $742 million during the quarter, compared to the consensus estimate of $733.43 million. Rent-A-Center had a negative return on equity of 30.44% and a negative net margin of 4.77%. The firm’s revenue for the quarter was down 11.2% compared to the same quarter last year. During the same period last year, the business posted $0.48 EPS. On average, equities analysts expect that Rent-A-Center will post $0.34 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 20th. Shareholders of record on Monday, July 3rd will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, June 29th. This represents a $0.32 dividend on an annualized basis and a yield of 2.79%.
Rent-A-Center, Inc is a rent-to-own operator in North America. The Company provides an opportunity to obtain ownership of products, such as consumer electronics, appliances, computers (including tablets), smartphones and furniture (including accessories), under rental purchase agreements. The Company operates in four segments: Core U.S., Acceptance Now, Mexico, and Franchising.
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