Zacks Investment Research Upgrades FirstCash Inc (FCFS) to “Buy”
FirstCash Inc (NASDAQ:FCFS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage presently has a $65.00 price objective on the credit services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.17% from the company’s current price.
According to Zacks, “FirstCash Inc. is an operator of pawn stores. The company focuses on serving cash and credit constrained consumers through its retail pawn locations, which buy and sell jewelry, consumer electronics, power tools, household appliances, sporting goods, musical instruments and other merchandise. It operates primarily in the U.S., Mexico, Guatemala and El Salvador. FirstCash, Inc., formerly known as First Cash Financial Services Inc., is based in Arlington, United States. “
FCFS has been the subject of several other reports. BidaskClub lowered shares of FirstCash from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Wedbush increased their price target on shares of FirstCash from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, May 24th. CL King lowered shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Stephens increased their price target on shares of FirstCash from $51.00 to $62.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 21st. Finally, Janney Montgomery Scott lowered shares of FirstCash from a “buy” rating to a “neutral” rating and decreased their price target for the company from $58.55 to $58.00 in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $61.00.
FirstCash (NASDAQ:FCFS) traded down 0.60% during mid-day trading on Thursday, reaching $57.95. 170,800 shares of the company’s stock were exchanged. The firm has a market capitalization of $2.77 billion, a P/E ratio of 31.38 and a beta of 0.90. The company’s 50-day moving average is $58.75 and its 200 day moving average is $53.68. FirstCash has a one year low of $39.80 and a one year high of $60.75.
FirstCash (NASDAQ:FCFS) last released its quarterly earnings results on Thursday, July 27th. The credit services provider reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.05. The business had revenue of $416.60 million during the quarter, compared to analyst estimates of $410.65 million. FirstCash had a net margin of 3.66% and a return on equity of 4.10%. The company’s quarterly revenue was up 128.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 earnings per share. Equities analysts predict that FirstCash will post $2.66 earnings per share for the current fiscal year.
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Several institutional investors and hedge funds have recently bought and sold shares of FCFS. BlackRock Inc. increased its holdings in shares of FirstCash by 77,659.7% during the first quarter. BlackRock Inc. now owns 5,898,853 shares of the credit services provider’s stock valued at $289,930,000 after acquiring an additional 5,891,267 shares in the last quarter. Park West Asset Management LLC increased its holdings in shares of FirstCash by 247.3% during the first quarter. Park West Asset Management LLC now owns 949,415 shares of the credit services provider’s stock valued at $46,664,000 after acquiring an additional 676,019 shares in the last quarter. Fiduciary Management Inc. WI increased its holdings in shares of FirstCash by 27.6% during the first quarter. Fiduciary Management Inc. WI now owns 3,029,034 shares of the credit services provider’s stock valued at $148,877,000 after acquiring an additional 654,624 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of FirstCash by 98.6% during the first quarter. Wellington Management Group LLP now owns 1,267,147 shares of the credit services provider’s stock valued at $62,280,000 after acquiring an additional 629,104 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new position in shares of FirstCash during the first quarter valued at about $15,612,000.
FirstCash, Inc, formerly First Cash Financial Services, Inc, is an operator of retail-based pawn stores in the United States and Latin America. The Company’s primary business is the operation of full-service pawn stores, which make small pawn loans secured by personal property, such as consumer electronics, jewelry, power tools, household appliances, sporting goods and musical instruments.
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