FirstCash Inc (NASDAQ:FCFS) Upgraded to “Buy” by Zacks Investment Research

FirstCash Inc (NASDAQ:FCFS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, July 11th. The brokerage currently has a $65.00 price objective on the credit services provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 11.78% from the company’s current price.

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. “

FCFS has been the subject of several other reports. BidaskClub raised shares of FirstCash from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Jefferies Group LLC reiterated a “buy” rating and issued a $60.00 price target on shares of FirstCash in a research note on Friday, April 7th. Wedbush lifted their price target on shares of FirstCash from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 4th. Stephens lifted their price target on shares of FirstCash from $51.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 21st. Finally, TheStreet upgraded shares of FirstCash from a “c+” rating to a “b” rating in a research note on Monday, April 17th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $57.86.

Shares of FirstCash (NASDAQ:FCFS) opened at 58.15 on Tuesday. FirstCash has a 1-year low of $39.80 and a 1-year high of $60.75. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 31.48 and a beta of 0.90. The stock has a 50 day moving average price of $58.25 and a 200 day moving average price of $51.13.

FirstCash (NASDAQ:FCFS) last issued its quarterly earnings results on Thursday, July 27th. The credit services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. FirstCash had a net margin of 7.29% and a return on equity of 8.92%. The company had revenue of $416.60 million during the quarter, compared to analysts’ expectations of $410.65 million. During the same period last year, the company posted $0.51 EPS. FirstCash’s revenue was up 128.9% on a year-over-year basis. Analysts forecast that FirstCash will post $2.66 earnings per share for the current year.

FirstCash declared that its board has approved a stock repurchase program on Monday, May 15th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the credit services provider to buy up to 4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

TRADEMARK VIOLATION WARNING: “FirstCash Inc (NASDAQ:FCFS) Upgraded to “Buy” by Zacks Investment Research” was originally posted by Community Financial News and is owned by of Community Financial News. If you are viewing this story on another publication, it was stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this story can be viewed at https://www.com-unik.info/2017/08/12/firstcash-inc-nasdaqfcfs-upgraded-by-zacks-investment-research-to-buy-updated-updated-updated.html.

In related 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 transaction of $412,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Several large investors have recently made changes to their positions in FCFS. Tyers Asset Management LLC increased its stake in shares of FirstCash by 14.9% in the first quarter. Tyers Asset Management LLC now owns 2,380 shares of the credit services provider’s stock valued at $117,000 after buying an additional 308 shares in the last quarter. Flinton Capital Management LLC increased its stake in shares of FirstCash by 14.9% in the first quarter. Flinton Capital Management LLC now owns 2,890 shares of the credit services provider’s stock valued at $142,000 after buying an additional 374 shares in the last quarter. Newfoundland Capital Management purchased a new stake in shares of FirstCash during the first quarter valued at $201,000. Ameritas Investment Partners Inc. purchased a new stake in shares of FirstCash during the first quarter valued at $202,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of FirstCash during the first quarter valued at $202,000.

About FirstCash

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.

Get a free copy of the Zacks research report on FirstCash (FCFS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for FirstCash (NASDAQ:FCFS)

What are top analysts saying about FirstCash Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for FirstCash Inc and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit