PROG (NYSE:PRG) Raised to “Strong-Buy” at Wall Street Zen

PROG (NYSE:PRG) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

Several other equities analysts also recently issued reports on the stock. TD Cowen boosted their price target on shares of PROG from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Zacks Research raised shares of PROG from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Stephens boosted their price target on shares of PROG from $40.00 to $47.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings downgraded shares of PROG from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Finally, B. Riley Financial reissued a “buy” rating on shares of PROG in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, PROG currently has an average rating of “Moderate Buy” and an average price target of $43.70.

PROG Stock Performance

Shares of PRG opened at $35.24 on Friday. PROG has a 1 year low of $25.80 and a 1 year high of $41.14. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 9.63 and a beta of 1.82. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.41 and a current ratio of 4.27. The firm has a fifty day moving average of $32.53 and a 200-day moving average of $31.81.

PROG (NYSE:PRG) last announced its quarterly earnings results on Wednesday, April 29th. The fintech holding company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.46. PROG had a net margin of 5.88% and a return on equity of 21.94%. The company had revenue of $742.67 million during the quarter, compared to the consensus estimate of $732.70 million. During the same quarter in the previous year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. PROG has set its Q2 2026 guidance at 1.050-1.050 EPS. As a group, equities analysts anticipate that PROG will post 4.7 earnings per share for the current year.

Institutional Investors Weigh In On PROG

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Segall Bryant & Hamill LLC bought a new stake in shares of PROG during the first quarter valued at about $837,000. Bank of America Corp DE raised its position in PROG by 4.7% in the first quarter. Bank of America Corp DE now owns 151,827 shares of the fintech holding company’s stock worth $4,356,000 after acquiring an additional 6,760 shares in the last quarter. Amundi raised its position in PROG by 23.6% in the first quarter. Amundi now owns 9,589 shares of the fintech holding company’s stock worth $275,000 after acquiring an additional 1,832 shares in the last quarter. California State Teachers Retirement System raised its position in PROG by 27.5% in the first quarter. California State Teachers Retirement System now owns 49,601 shares of the fintech holding company’s stock worth $1,423,000 after acquiring an additional 10,701 shares in the last quarter. Finally, Empowered Funds LLC raised its position in PROG by 30.4% in the first quarter. Empowered Funds LLC now owns 174,335 shares of the fintech holding company’s stock worth $5,002,000 after acquiring an additional 40,605 shares in the last quarter. 97.92% of the stock is currently owned by institutional investors.

PROG Company Profile

PROG Holdings, Inc, formerly known as Aaron’s, is a North American provider of lease-to-own and consumer finance solutions. The company operates through two primary segments: Aaron’s Business Solutions and Progressive Financial Services. Through Aaron’s Business Solutions, PROG offers customers access to furniture, electronics, home appliances and technology products via lease ownership arrangements, serving both individual consumers and small businesses.

The Progressive Financial Services segment provides lease-purchase and retail point-of-sale financing programs to customers with limited credit histories.