FirstCash (NASDAQ:FCFS) Downgraded by Wall Street Zen to Buy

FirstCash (NASDAQ:FCFS) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Sunday.

A number of other research analysts also recently issued reports on FCFS. TD Cowen reissued a “buy” rating on shares of FirstCash in a research report on Friday, October 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of FirstCash in a research report on Monday, December 29th. Canaccord Genuity Group set a $217.00 price objective on shares of FirstCash in a report on Friday, February 6th. Finally, Zacks Research downgraded FirstCash from a “strong-buy” rating to a “hold” rating in a report on Friday, January 2nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $169.40.

FirstCash Stock Performance

NASDAQ:FCFS opened at $181.89 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.36 and a current ratio of 4.55. FirstCash has a fifty-two week low of $109.51 and a fifty-two week high of $188.75. The business has a 50 day moving average price of $167.19 and a 200-day moving average price of $156.23. The firm has a market cap of $8.00 billion, a PE ratio of 24.51 and a beta of 0.49.

FirstCash (NASDAQ:FCFS) last announced its quarterly earnings results on Thursday, February 5th. The company reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.10. FirstCash had a net margin of 9.02% and a return on equity of 17.99%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the firm earned $2.12 EPS. The company’s revenue was up 19.8% on a year-over-year basis. Equities research analysts predict that FirstCash will post 7.7 earnings per share for the current year.

FirstCash announced that its board has authorized a stock repurchase program on Thursday, October 30th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at FirstCash

In other FirstCash news, insider Howard F. Hambleton sold 4,000 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $163.74, for a total value of $654,960.00. Following the sale, the insider directly owned 26,581 shares of the company’s stock, valued at approximately $4,352,372.94. The trade was a 13.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO R Douglas Orr sold 4,000 shares of the stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $175.37, for a total transaction of $701,480.00. Following the sale, the chief financial officer directly owned 111,289 shares in the company, valued at $19,516,751.93. This trade represents a 3.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 50,500 shares of company stock valued at $8,150,640 in the last ninety days. Corporate insiders own 2.93% of the company’s stock.

Institutional Trading of FirstCash

A number of institutional investors and hedge funds have recently modified their holdings of FCFS. Sequoia Financial Advisors LLC bought a new position in shares of FirstCash during the 2nd quarter valued at $336,000. Drive Wealth Management LLC purchased a new stake in FirstCash during the second quarter valued at $230,000. Squarepoint Ops LLC lifted its holdings in FirstCash by 685.2% in the second quarter. Squarepoint Ops LLC now owns 37,896 shares of the company’s stock valued at $5,121,000 after acquiring an additional 33,070 shares during the period. Bank of New York Mellon Corp lifted its holdings in FirstCash by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 388,635 shares of the company’s stock valued at $52,520,000 after acquiring an additional 6,633 shares during the period. Finally, Intech Investment Management LLC boosted its position in FirstCash by 26.0% in the second quarter. Intech Investment Management LLC now owns 33,462 shares of the company’s stock worth $4,522,000 after purchasing an additional 6,907 shares during the last quarter. Institutional investors own 80.30% of the company’s stock.

FirstCash Company Profile

FirstCash, Inc (NASDAQ: FCFS) is a leading integrated operator of pawn stores and provider of short-term consumer loan services in the United States and Mexico. Through its retail pawn outlets, FirstCash offers collateral-based loans secured by personal property, enabling customers to access liquidity without a credit history or traditional bank account. The company also purchases, trades and sells a broad range of secondhand merchandise, including electronics, jewelry and power tools, through its network of conveniently located stores.

In addition to its pawn-broking activities, FirstCash provides unsecured consumer loans designed to meet urgent cash needs.