Loop Capital Reiterates Sell Rating for Rent-A-Center Inc. (NASDAQ:RCII)
Rent-A-Center Inc. (NASDAQ:RCII)‘s stock had its “sell” rating restated by investment analysts at Loop Capital in a research report issued to clients and investors on Tuesday. They currently have a $8.00 price target on the stock. Loop Capital’s price objective would indicate a potential downside of 36.00% from the company’s previous close.
A number of other research analysts also recently commented on RCII. BidaskClub raised shares of Rent-A-Center from a “hold” rating to a “buy” rating in a research report on Sunday. Zacks Investment Research downgraded shares of Rent-A-Center from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Stephens downgraded shares of Rent-A-Center from an “equal weight” rating to an “underweight” rating in a research report on Friday, March 31st. Northcoast Research raised shares of Rent-A-Center from a “neutral” rating to a “buy” rating in a research report on Friday, March 31st. Finally, Stifel Nicolaus reissued a “hold” rating and set a $11.50 target price (up previously from $8.50) on shares of Rent-A-Center in a research report on Monday, April 17th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $10.75.
Shares of Rent-A-Center (RCII) traded down 0.48% during midday trading on Tuesday, reaching $12.44. 973,198 shares of the company’s stock were exchanged. Rent-A-Center has a 12-month low of $7.76 and a 12-month high of $13.73. The company’s market cap is $661.76 million. The stock’s 50 day moving average price is $11.74 and its 200 day moving average price is $10.36.
Rent-A-Center (NASDAQ:RCII) last posted its earnings results on Monday, May 1st. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. The business had revenue of $742 million for 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 revenue for the quarter was down 11.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 EPS. Equities analysts anticipate that Rent-A-Center will post $0.34 earnings per share for the current fiscal year.
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In related news, Chairman Mark E. Speese bought 100,000 shares of the company’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 transaction, the chairman now owns 844,627 shares in the company, valued at $9,882,135.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven L. Pepper bought 45,000 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were bought at an average cost of $10.93 per share, for a total transaction of $491,850.00. The disclosure for this purchase can be found here. 3.40% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Thompson Siegel & Walmsley LLC boosted its stake in shares of Rent-A-Center by 55.7% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 814,441 shares of the company’s stock valued at $12,193,000 after buying an additional 291,424 shares during the last quarter. Retirement Systems of Alabama boosted its stake in shares of Rent-A-Center by 1.3% in the fourth quarter. Retirement Systems of Alabama now owns 68,189 shares of the company’s stock valued at $1,021,000 after buying an additional 905 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of Rent-A-Center by 0.6% in the fourth quarter. Nationwide Fund Advisors now owns 132,473 shares of the company’s stock valued at $1,983,000 after buying an additional 810 shares during the last quarter. TFS Capital LLC acquired a new stake in shares of Rent-A-Center during the fourth quarter valued at approximately $5,710,000. Finally, California State Teachers Retirement System boosted its stake in shares of Rent-A-Center by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 98,297 shares of the company’s stock valued at $1,472,000 after buying an additional 1,548 shares during the last quarter.
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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