FirstCash Inc (FCFS) Downgraded by Zacks Investment Research
FirstCash Inc (NASDAQ:FCFS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
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. “
Several other equities analysts have also recently weighed in on the company. Stephens lifted their price objective on FirstCash from $51.00 to $62.00 and gave the company an “equal weight” rating in a report on Wednesday, June 21st. Wedbush boosted their price target on FirstCash from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, May 24th. BidaskClub raised FirstCash from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. CL King cut FirstCash from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Finally, Janney Montgomery Scott cut FirstCash from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $58.55 to $58.00 in a report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. FirstCash presently has a consensus rating of “Hold” and an average price target of $61.00.
Shares of FirstCash (NASDAQ:FCFS) traded up 1.08% during mid-day trading on Tuesday, hitting $60.65. The stock had a trading volume of 172,815 shares. The firm has a market cap of $2.89 billion, a PE ratio of 32.84 and a beta of 0.90. FirstCash has a 52 week low of $39.80 and a 52 week high of $60.80. The stock has a 50 day moving average price of $58.89 and a 200 day moving average price of $54.14.
FirstCash (NASDAQ:FCFS) last announced its quarterly earnings data on Thursday, July 27th. The credit services provider reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.05. The firm had revenue of $416.60 million during the quarter, compared to analysts’ expectations of $410.65 million. FirstCash had a return on equity of 4.10% and a net margin of 3.66%. The company’s quarterly revenue was up 128.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 EPS. Equities research analysts expect that FirstCash will post $2.66 EPS for the current fiscal year.
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Several institutional investors have recently bought and sold shares of FCFS. Newfoundland Capital Management acquired a new position in shares of FirstCash during the 1st quarter worth $201,000. Ameritas Investment Partners Inc. acquired a new position in FirstCash in the 1st quarter worth about $202,000. BlueCrest Capital Management Ltd acquired a new position in FirstCash in the 1st quarter worth about $202,000. AlphaOne Investment Services LLC acquired a new position in FirstCash in the 2nd quarter worth about $207,000. Finally, Riverhead Capital Management LLC increased its holdings in FirstCash by 74.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,663 shares of the credit services provider’s stock worth $214,000 after purchasing an additional 1,563 shares in the last quarter.
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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