Zacks Investment Research upgraded shares of FirstCash Inc (NASDAQ:FCFS) from a hold rating to a buy rating in a research report report published on Tuesday. Zacks Investment Research currently has $65.00 price target on the credit services provider’s stock.
According to Zacks, “FirstCash Inc. is an operator of pawn stores. The company focuses on serving cash and credit constrained consumers through its retail pawn locations, which buy and sell jewelry, consumer electronics, power tools, household appliances, sporting goods, musical instruments and other merchandise. It operates primarily in the U.S., Mexico, Guatemala and El Salvador. FirstCash, Inc., formerly known as First Cash Financial Services Inc., is based in Arlington, United States. “
Other equities research analysts have also recently issued research reports about the stock. Wedbush boosted their target price on shares of FirstCash from $55.00 to $60.00 and gave the company an outperform rating in a report on Wednesday, May 24th. TheStreet raised shares of FirstCash from a c+ rating to a b rating in a report on Monday, April 17th. BidaskClub raised shares of FirstCash from a buy rating to a strong-buy rating in a report on Tuesday, June 27th. Stephens boosted their target price on shares of FirstCash from $51.00 to $62.00 and gave the company an equal weight rating in a report on Wednesday, June 21st. Finally, Jefferies Group LLC reissued a buy rating and set a $60.00 target price on shares of FirstCash in a report on Friday, April 7th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. FirstCash presently has an average rating of Buy and a consensus target price of $57.86.
Shares of FirstCash (FCFS) traded down 0.85% during trading on Tuesday, hitting $58.05. The stock had a trading volume of 249,679 shares. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 29.29 and a beta of 0.90. The company’s 50 day moving average price is $54.91 and its 200 day moving average price is $48.52. FirstCash has a 52 week low of $39.80 and a 52 week high of $59.35.
FirstCash (NASDAQ:FCFS) last posted its quarterly earnings data on Thursday, April 27th. The credit services provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.60 by $0.08. FirstCash had a return on equity of 8.92% and a net margin of 7.29%. The business had revenue of $447.60 million for the quarter, compared to the consensus estimate of $435.14 million. During the same quarter in the prior year, the business earned $0.48 earnings per share. FirstCash’s revenue for the quarter was up 144.3% on a year-over-year basis. Analysts predict that FirstCash will post $2.59 earnings per share for the current year.
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FirstCash declared that its board has authorized a stock repurchase program on Monday, May 15th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the credit services provider to buy up to 4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
In other news, CFO R Douglas Orr sold 7,500 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $55.00, for a total value of $412,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 15,000 shares of company stock worth $800,000.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FCFS. Great West Life Assurance Co. Can boosted its position in FirstCash by 5.8% in the first quarter. Great West Life Assurance Co. Can now owns 68,119 shares of the credit services provider’s stock valued at $3,345,000 after buying an additional 3,739 shares during the last quarter. Russell Investments Group Ltd. boosted its position in FirstCash by 5.6% in the first quarter. Russell Investments Group Ltd. now owns 239,205 shares of the credit services provider’s stock valued at $11,758,000 after buying an additional 12,670 shares during the last quarter. Profit Investment Management LLC boosted its position in FirstCash by 33.2% in the first quarter. Profit Investment Management LLC now owns 36,410 shares of the credit services provider’s stock valued at $1,790,000 after buying an additional 9,065 shares during the last quarter. State of Alaska Department of Revenue boosted its position in FirstCash by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 5,350 shares of the credit services provider’s stock valued at $262,000 after buying an additional 110 shares during the last quarter. Finally, Rice Hall James & Associates LLC purchased a new position in FirstCash during the first quarter valued at $11,172,000.
FirstCash Company Profile
FirstCash, Inc, formerly First Cash Financial Services, Inc, is an operator of retail-based pawn stores in the United States and Latin America. The Company’s primary business is the operation of full-service pawn stores, which make small pawn loans secured by personal property, such as consumer electronics, jewelry, power tools, household appliances, sporting goods and musical instruments.
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