Zacks Investment Research Downgrades FirstCash (FCFS) to Hold

FirstCash (NYSE:FCFS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

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. “

A number of other equities analysts also recently weighed in on FCFS. BidaskClub downgraded shares of FirstCash from a “hold” rating to a “sell” rating in a report on Thursday, September 14th. Credit Suisse Group started coverage on shares of FirstCash in a report on Wednesday, October 4th. They issued an “outperform” rating and a $73.00 price target on the stock. Wedbush boosted their price target on shares of FirstCash from $62.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, October 5th. Jefferies Group reissued a “buy” rating and issued a $73.00 price target on shares of FirstCash in a report on Thursday, October 12th. Finally, ValuEngine downgraded shares of FirstCash from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $65.71.

Shares of FirstCash (NYSE FCFS) traded down $1.20 during trading hours on Friday, hitting $68.60. 222,000 shares of the company were exchanged, compared to its average volume of 190,175. The company has a quick ratio of 4.30, a current ratio of 6.57 and a debt-to-equity ratio of 0.20. The stock has a market cap of $3,272.40, a P/E ratio of 29.32 and a beta of 0.79. FirstCash has a 52 week low of $39.80 and a 52 week high of $70.25.

FirstCash (NYSE:FCFS) last issued its quarterly earnings results on Thursday, October 26th. The credit services provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. The company had revenue of $435.40 million for the quarter, compared to the consensus estimate of $418.57 million. FirstCash had a net margin of 6.41% and a return on equity of 8.45%. The firm’s quarterly revenue was up 66.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 EPS. analysts predict that FirstCash will post 2.65 EPS for the current year.

A number of institutional investors have recently made changes to their positions in the stock. Insight Capital Research & Management Inc. bought a new stake in FirstCash in the 3rd quarter valued at about $913,000. California Public Employees Retirement System raised its stake in FirstCash by 3.9% in the 3rd quarter. California Public Employees Retirement System now owns 166,423 shares of the credit services provider’s stock valued at $10,510,000 after acquiring an additional 6,211 shares during the period. Zions Bancorporation bought a new stake in FirstCash in the 3rd quarter valued at about $230,000. Earnest Partners LLC raised its stake in FirstCash by 1.6% in the 3rd quarter. Earnest Partners LLC now owns 1,474,115 shares of the credit services provider’s stock valued at $93,090,000 after acquiring an additional 22,690 shares during the period. Finally, Grandeur Peak Global Advisors LLC bought a new stake in FirstCash in the 3rd quarter valued at about $54,801,000. Institutional investors and hedge funds own 95.69% of the company’s stock.

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About FirstCash

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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