Rent-A-Center Inc. (NASDAQ:RCII) Rating Increased to Buy at BidaskClub
Rent-A-Center Inc. (NASDAQ:RCII) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Sunday.
RCII has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Rent-A-Center from a “sell” rating to a “hold” rating in a research note on Tuesday, March 21st. Northcoast Research upgraded shares of Rent-A-Center from a “neutral” rating to a “buy” rating in a research note on Friday, March 31st. Janney Montgomery Scott initiated coverage on shares of Rent-A-Center in a research note on Thursday, April 6th. They set a “buy” rating and a $12.00 target price for the company. Loop Capital reiterated a “hold” rating and set a $8.00 target price on shares of Rent-A-Center in a research note on Wednesday, April 12th. Finally, Raymond James Financial, Inc. upgraded shares of Rent-A-Center from a “market perform” rating to a “strong-buy” rating and set a $15.00 target price for the company in a research note on Wednesday, April 12th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $10.75.
Shares of Rent-A-Center (NASDAQ:RCII) traded down 0.32% during mid-day trading on Friday, hitting $12.45. The stock had a trading volume of 1,260,791 shares. The stock’s 50-day moving average is $11.74 and its 200 day moving average is $10.36. The firm’s market cap is $662.29 million. Rent-A-Center has a 12 month low of $7.76 and a 12 month high of $13.73.
Rent-A-Center (NASDAQ:RCII) last posted its quarterly earnings results on Monday, May 1st. The company reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.06. The business had revenue of $742 million during the quarter, compared to the consensus estimate of $733.43 million. Rent-A-Center had a negative net margin of 4.77% and a negative return on equity of 30.44%. The company’s quarterly revenue was down 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.48 earnings per share. Equities research analysts predict that Rent-A-Center will post $0.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 20th. Investors 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 dividend yield of 2.57%.
In other news, Director Steven L. Pepper bought 45,000 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was purchased at an average price of $10.93 per share, for a total transaction of $491,850.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark E. Speese purchased 100,000 shares of Rent-A-Center stock in a transaction that occurred on Wednesday, May 10th. The stock was bought at an average cost of $11.70 per share, with a total value of $1,170,000.00. Following the completion of the transaction, the chairman now owns 844,627 shares of the company’s stock, valued at $9,882,135.90. The disclosure for this purchase can be found here. Insiders own 3.40% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Mason Street Advisors LLC boosted its stake in shares of Rent-A-Center by 7.1% in the first quarter. Mason Street Advisors LLC now owns 12,439 shares of the company’s stock worth $110,000 after buying an additional 825 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Rent-A-Center by 77.1% in the second quarter. State of Alaska Department of Revenue now owns 10,448 shares of the company’s stock worth $122,000 after buying an additional 4,548 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Rent-A-Center during the first quarter worth $130,000. Wedbush Securities Inc. bought a new stake in shares of Rent-A-Center during the first quarter worth $146,000. Finally, Stevens Capital Management LP bought a new stake in shares of Rent-A-Center during the first quarter worth $154,000.
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.
Receive News & Ratings for Rent-A-Center Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rent-A-Center Inc. and related companies with MarketBeat.com's FREE daily email newsletter.