Rent-A-Center Inc (NASDAQ:RCII)‘s stock had its “hold” rating reaffirmed by stock analysts at Stifel Nicolaus in a note issued to investors on Sunday, April 23rd. They presently have a $11.50 target price on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 4.17% from the company’s previous close.
RCII has been the topic of several other reports. Zacks Investment Research raised shares of Rent-A-Center from a “sell” rating to a “hold” rating in a report on Tuesday, March 21st. Northcoast Research raised shares of Rent-A-Center from a “neutral” rating to a “buy” rating in a report on Friday, March 31st. Stephens assumed coverage on shares of Rent-A-Center in a report on Thursday, January 12th. They set an “equal weight” rating on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $9.00 price objective (down from $11.00) on shares of Rent-A-Center in a report on Thursday, January 19th. Finally, Janney Montgomery Scott assumed coverage on shares of Rent-A-Center in a report on Thursday, April 6th. They set a “buy” rating and a $12.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $13.07.
Shares of Rent-A-Center (NASDAQ:RCII) traded up 1.10% on Friday, hitting $11.04. 865,362 shares of the stock were exchanged. The company has a 50-day moving average price of $10.85 and a 200-day moving average price of $10.26. Rent-A-Center has a one year low of $7.76 and a one year high of $13.73. The firm’s market capitalization is $587.28 million.
Rent-A-Center (NASDAQ:RCII) last posted its quarterly earnings results on Monday, May 1st. The company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.06. The company had revenue of $742 million during the quarter, compared to analyst estimates of $733.43 million. Rent-A-Center had a negative net margin of 28.44% and a positive return on equity of 16.57%. The firm’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 earnings per share. Equities research analysts expect that Rent-A-Center will post $0.36 earnings per share for the current year.
In other news, major shareholder Engaged Capital Llc purchased 1,695,233 shares of the stock in a transaction dated Thursday, March 23rd. The shares were purchased at an average cost of $8.65 per share, with a total value of $14,663,765.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark E. Speese purchased 100,000 shares of the stock in a transaction dated Wednesday, May 10th. The stock was purchased at an average cost of $11.70 per share, for a total transaction of $1,170,000.00. Following the completion of the acquisition, the chairman now owns 844,627 shares of the company’s stock, valued at approximately $9,882,135.90. The disclosure for this purchase can be found here. Over the last three months, insiders bought 1,800,233 shares of company stock worth $15,877,265. Insiders own 3.40% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Rent-A-Center by 3.2% in the first quarter. Vanguard Group Inc. now owns 7,115,980 shares of the company’s stock worth $63,118,000 after buying an additional 223,478 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Rent-A-Center by 8.5% in the third quarter. BlackRock Fund Advisors now owns 3,711,500 shares of the company’s stock worth $46,913,000 after buying an additional 291,330 shares in the last quarter. Frontier Capital Management Co. LLC increased its stake in shares of Rent-A-Center by 7.4% in the first quarter. Frontier Capital Management Co. LLC now owns 3,174,144 shares of the company’s stock worth $28,155,000 after buying an additional 217,842 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Rent-A-Center by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,276,061 shares of the company’s stock worth $20,190,000 after buying an additional 23,437 shares in the last quarter. Finally, Brandes Investment Partners LP increased its stake in shares of Rent-A-Center by 5.9% in the first quarter. Brandes Investment Partners LP now owns 2,023,427 shares of the company’s stock worth $17,948,000 after buying an additional 113,195 shares in the last quarter. 96.78% of the stock is currently owned by institutional investors and hedge funds.
Rent-A-Center Company Profile
Rent-A-Center, Inc is a rent-to-own operator in North America. The Company provides an opportunity to obtain ownership of products, such as consumer electronics, appliances, computers (including tablets), smartphones and furniture (including accessories), under rental purchase agreements. The Company operates in four segments: Core U.S., Acceptance Now, Mexico, and Franchising.
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