Wedbush Boosts FirstCash Inc (FCFS) Price Target to $66.00
FirstCash Inc (NASDAQ:FCFS) had its price target boosted by research analysts at Wedbush from $62.00 to $66.00 in a research report issued to clients and investors on Thursday. The firm currently has an “outperform” rating on the credit services provider’s stock. Wedbush’s target price would indicate a potential upside of 5.01% from the stock’s current price.
A number of other equities research analysts also recently commented on FCFS. Stephens lifted their price target on shares of FirstCash from $51.00 to $62.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 21st. BidaskClub upgraded shares of FirstCash from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Zacks Investment Research upgraded shares of FirstCash from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Tuesday, July 11th. Janney Montgomery Scott downgraded shares of 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. Finally, CL King downgraded shares of FirstCash from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $64.00.
FirstCash (NASDAQ FCFS) traded down 0.676% during mid-day trading on Thursday, hitting $62.425. 24,511 shares of the stock traded hands. FirstCash has a 12-month low of $39.80 and a 12-month high of $63.60. The firm’s 50-day moving average is $60.09 and its 200-day moving average is $55.52. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 33.798 and a beta of 0.90.
FirstCash (NASDAQ:FCFS) last issued its quarterly earnings results on Thursday, July 27th. The credit services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. The business had revenue of $416.60 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 earnings per share. Equities research analysts expect that FirstCash will post $2.66 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in FirstCash by 1.0% during the second quarter. BlackRock Inc. now owns 5,957,256 shares of the credit services provider’s stock valued at $347,308,000 after buying an additional 58,403 shares in the last quarter. Vanguard Group Inc. lifted its position in FirstCash by 1.2% during the second quarter. Vanguard Group Inc. now owns 4,199,210 shares of the credit services provider’s stock valued at $244,815,000 after buying an additional 51,576 shares in the last quarter. William Blair Investment Management LLC lifted its position in FirstCash by 5.0% during the second quarter. William Blair Investment Management LLC now owns 1,887,660 shares of the credit services provider’s stock valued at $110,051,000 after buying an additional 90,041 shares in the last quarter. FMR LLC lifted its position in FirstCash by 14.4% during the first quarter. FMR LLC now owns 1,710,218 shares of the credit services provider’s stock valued at $84,057,000 after buying an additional 215,693 shares in the last quarter. Finally, Earnest Partners LLC lifted its position in FirstCash by 1.5% during the second quarter. Earnest Partners LLC now owns 1,451,425 shares of the credit services provider’s stock valued at $84,618,000 after buying an additional 21,038 shares in the last quarter.
FirstCash Company Profile
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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