Rent-A-Center Inc. (RCII) Downgraded by BidaskClub to “Buy”
Rent-A-Center Inc. (NASDAQ:RCII) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.
Several other brokerages also recently issued reports on RCII. Loop Capital reissued a “sell” rating and set a $8.00 price objective on shares of Rent-A-Center in a research note on Tuesday, July 18th. Zacks Investment Research downgraded shares of Rent-A-Center from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Jefferies Group LLC reduced their price objective on shares of Rent-A-Center from $12.00 to $9.00 and set a “hold” rating on the stock in a research note on Wednesday, May 3rd. Finally, Stifel Nicolaus reissued a “hold” rating and set a $13.00 price objective (up previously from $11.50) on shares of Rent-A-Center in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $11.00.
Shares of Rent-A-Center (RCII) opened at 13.05 on Thursday. The stock’s market capitalization is $695.58 million. Rent-A-Center has a 1-year low of $7.76 and a 1-year high of $13.89. The stock’s 50 day moving average is $12.60 and its 200 day moving average is $10.83.
Rent-A-Center (NASDAQ:RCII) last announced its quarterly earnings results on Wednesday, July 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.08. Rent-A-Center had a negative net margin of 5.57% and a negative return on equity of 43.47%. The business had revenue of $667.64 million during the quarter, compared to analysts’ expectations of $667.04 million. During the same period last year, the company earned $0.41 EPS. The firm’s revenue for the quarter was down 10.9% on a year-over-year basis. On average, equities analysts forecast that Rent-A-Center will post $0.06 EPS for the current year.
In other Rent-A-Center news, Director Steven L. Pepper acquired 45,000 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was bought at an average price of $10.93 per share, with a total value of $491,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.40% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Engaged Capital LLC raised its stake in Rent-A-Center by 290.2% in the first quarter. Engaged Capital LLC now owns 8,983,609 shares of the company’s stock valued at $79,685,000 after buying an additional 6,681,233 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in Rent-A-Center by 682.2% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,956,302 shares of the company’s stock valued at $33,258,000 after buying an additional 2,578,360 shares during the last quarter. Nomura Holdings Inc. raised its stake in Rent-A-Center by 11,161.3% in the first quarter. Nomura Holdings Inc. now owns 1,925,688 shares of the company’s stock valued at $17,122,000 after buying an additional 1,908,588 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Rent-A-Center by 636.5% in the third quarter. JPMorgan Chase & Co. now owns 1,929,963 shares of the company’s stock valued at $24,394,000 after buying an additional 1,667,921 shares during the last quarter. Finally, Norges Bank acquired a new stake in Rent-A-Center during the fourth quarter valued at about $16,127,000.
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.
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