Upbound Group, Inc. (NASDAQ:UPBD) Receives $39.17 Consensus Price Target from Brokerages

Upbound Group, Inc. (NASDAQ:UPBD) has been given an average rating of “Moderate Buy” by the six analysts that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $39.17.

Several research firms have issued reports on UPBD. Loop Capital lowered their target price on shares of Upbound Group from $36.00 to $33.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Stephens started coverage on shares of Upbound Group in a report on Wednesday, November 13th. They issued an “overweight” rating and a $38.00 price target on the stock. TD Cowen raised shares of Upbound Group to a “strong-buy” rating in a report on Friday, November 29th. Finally, Jefferies Financial Group reduced their target price on Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Tuesday, October 1st.

Insider Activity at Upbound Group

In related news, Director Jeffrey J. Brown purchased 1,065 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was acquired at an average price of $29.25 per share, with a total value of $31,151.25. Following the completion of the acquisition, the director now owns 85,234 shares of the company’s stock, valued at approximately $2,493,094.50. This trade represents a 1.27 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of UPBD. Ieq Capital LLC lifted its stake in Upbound Group by 112.7% in the 2nd quarter. Ieq Capital LLC now owns 4,827,021 shares of the company’s stock worth $148,190,000 after purchasing an additional 2,557,906 shares in the last quarter. State Street Corp grew its holdings in Upbound Group by 2.2% during the 3rd quarter. State Street Corp now owns 2,028,224 shares of the company’s stock valued at $64,883,000 after buying an additional 43,814 shares in the last quarter. Geode Capital Management LLC increased its stake in Upbound Group by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,217,880 shares of the company’s stock worth $38,968,000 after acquiring an additional 54,427 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Upbound Group by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 914,047 shares of the company’s stock worth $29,240,000 after acquiring an additional 33,167 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Upbound Group by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 761,765 shares of the company’s stock valued at $23,386,000 after purchasing an additional 15,219 shares in the last quarter. Institutional investors own 90.30% of the company’s stock.

Upbound Group Price Performance

Upbound Group stock opened at $30.01 on Friday. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.02. The business’s 50 day simple moving average is $31.63 and its 200 day simple moving average is $31.65. Upbound Group has a 12 month low of $26.50 and a 12 month high of $38.72. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 20.70 and a beta of 2.03.

Upbound Group (NASDAQ:UPBD) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.89 by $0.06. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. The company’s revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 earnings per share. Sell-side analysts forecast that Upbound Group will post 3.8 EPS for the current year.

Upbound Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Wednesday, December 18th will be paid a dividend of $0.39 per share. The ex-dividend date is Wednesday, December 18th. This is a positive change from Upbound Group’s previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a yield of 5.20%. Upbound Group’s payout ratio is currently 107.59%.

About Upbound Group

Upbound Group, Inc leases household durable goods to customers on a lease-to-own basis in the United States, Puerto Rico, and Mexico. It operates through four segments: Rent-A-Center, Acima, Mexico, and Franchising. The company's brands, such as Rent-A-Center and Acima that facilitate consumer transactions across a range of store-based and virtual channels.