FirstCash Inc (FCFS) Rating Increased to Buy at Zacks Investment Research
FirstCash Inc (NASDAQ:FCFS) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report issued on Monday. The firm currently has a $72.00 price objective on the credit services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.74% from the company’s previous close.
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 a number of other reports. BidaskClub cut FirstCash from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Credit Suisse Group assumed coverage on FirstCash in a research report on Wednesday, October 4th. They issued an “outperform” rating and a $73.00 price objective for the company. CL King cut FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Janney Montgomery Scott cut FirstCash from a “buy” rating to a “neutral” rating and cut their price objective for the company from $58.55 to $58.00 in a research report on Monday, July 17th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $73.00 price objective on shares of FirstCash in a research report on Thursday, October 12th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $65.14.
FirstCash (NASDAQ FCFS) traded down 1.78% during midday trading on Monday, reaching $63.30. The company had a trading volume of 163,630 shares. FirstCash has a 52-week low of $39.80 and a 52-week high of $64.85. The company’s 50-day moving average is $61.16 and its 200 day moving average is $57.41. The company has a market cap of $3.02 billion, a PE ratio of 34.27 and a beta of 0.90.
FirstCash (NASDAQ:FCFS) last released its quarterly earnings data on Thursday, October 26th. The credit services provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. FirstCash had a return on equity of 4.10% and a net margin of 3.66%. The company had revenue of $435.40 million during the quarter, compared to analysts’ expectations of $418.57 million. During the same period last year, the firm posted $0.58 earnings per share. The business’s revenue was up 66.7% on a year-over-year basis. On average, equities research analysts forecast that FirstCash will post $2.65 EPS for the current year.
FirstCash announced that its board has authorized a stock buyback program on Thursday, October 26th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the credit services provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
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Large investors have recently added to or reduced their stakes in the stock. OppenheimerFunds Inc. lifted its holdings in FirstCash by 70.6% during the 1st quarter. OppenheimerFunds Inc. now owns 18,926 shares of the credit services provider’s stock worth $930,000 after purchasing an additional 7,835 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in FirstCash by 81.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 17,552 shares of the credit services provider’s stock worth $1,023,000 after purchasing an additional 7,878 shares during the last quarter. Heartland Advisors Inc. lifted its holdings in FirstCash by 11.7% during the 2nd quarter. Heartland Advisors Inc. now owns 274,659 shares of the credit services provider’s stock worth $16,013,000 after purchasing an additional 28,844 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in FirstCash by 1.0% during the 2nd quarter. Principal Financial Group Inc. now owns 377,060 shares of the credit services provider’s stock worth $21,982,000 after purchasing an additional 3,760 shares during the last quarter. Finally, Hosking Partners LLP lifted its holdings in FirstCash by 1.6% during the 2nd quarter. Hosking Partners LLP now owns 164,540 shares of the credit services provider’s stock worth $9,593,000 after purchasing an additional 2,649 shares during 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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