PROG Holdings, Inc. (NYSE:PRG) Given Average Recommendation of “Buy” by Brokerages

Shares of PROG Holdings, Inc. (NYSE:PRG) have earned an average recommendation of “Buy” from the seven analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $53.83.

Several brokerages have recently weighed in on PRG. KeyCorp lifted their target price on shares of PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. TD Cowen raised PROG to a “strong-buy” rating in a report on Friday, November 29th. Jefferies Financial Group increased their target price on PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Raymond James upgraded PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a research note on Thursday, October 24th. Finally, Stephens assumed coverage on PROG in a research report on Wednesday, November 13th. They issued an “overweight” rating and a $60.00 price objective for the company.

PROG Stock Performance

Shares of PRG opened at $41.73 on Tuesday. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 11.56 and a beta of 2.15. PROG has a 52-week low of $27.84 and a 52-week high of $50.28. The company has a quick ratio of 2.34, a current ratio of 4.97 and a debt-to-equity ratio of 0.94. The stock has a 50 day moving average price of $46.46 and a 200 day moving average price of $43.25.

PROG (NYSE:PRG) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.01. PROG had a net margin of 6.55% and a return on equity of 24.56%. The business had revenue of $606.10 million during the quarter, compared to analysts’ expectations of $601.86 million. During the same quarter in the prior year, the business posted $0.90 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. Research analysts predict that PROG will post 3.36 EPS for the current fiscal year.

PROG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th were given a $0.12 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.15%. PROG’s payout ratio is currently 13.30%.

Insider Buying and Selling at PROG

In other PROG news, insider Michael Todd King sold 1,500 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $46.97, for a total transaction of $70,455.00. Following the completion of the transaction, the insider now directly owns 37,017 shares of the company’s stock, valued at approximately $1,738,688.49. This trade represents a 3.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian Garner sold 5,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $49.29, for a total value of $246,450.00. Following the transaction, the chief financial officer now directly owns 107,720 shares of the company’s stock, valued at $5,309,518.80. This represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,207 shares of company stock worth $5,759,152 over the last ninety days. Company insiders own 2.74% of the company’s stock.

Institutional Trading of PROG

Several institutional investors have recently made changes to their positions in PRG. Burney Co. boosted its position in PROG by 24.2% during the second quarter. Burney Co. now owns 86,401 shares of the company’s stock valued at $2,996,000 after purchasing an additional 16,810 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of PROG by 8.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,115 shares of the company’s stock valued at $351,000 after buying an additional 805 shares during the last quarter. Panagora Asset Management Inc. grew its stake in shares of PROG by 6.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 116,027 shares of the company’s stock valued at $4,024,000 after buying an additional 6,516 shares in the last quarter. nVerses Capital LLC acquired a new position in PROG in the second quarter worth approximately $73,000. Finally, Guidance Capital Inc. raised its position in PROG by 7.0% during the second quarter. Guidance Capital Inc. now owns 15,658 shares of the company’s stock valued at $543,000 after acquiring an additional 1,029 shares in the last quarter. 97.92% of the stock is currently owned by institutional investors and hedge funds.

About PROG

PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.