Jefferies Group LLC Lowers Rent-A-Center Inc. (RCII) Price Target to $11.00

Rent-A-Center Inc. (NASDAQ:RCII) had its price objective lowered by investment analysts at Jefferies Group LLC from $12.00 to $11.00 in a report issued on Wednesday. The firm currently has a “hold” rating on the stock. Jefferies Group LLC’s price objective indicates a potential upside of 10.66% from the company’s previous close.

Several other research analysts also recently commented on RCII. Zacks Investment Research downgraded shares of Rent-A-Center from a “buy” rating to a “hold” rating in a report on Wednesday. Stifel Nicolaus reaffirmed a “hold” rating and issued a $10.50 price objective on shares of Rent-A-Center in a report on Wednesday. Loop Capital set a $8.00 price objective on shares of Rent-A-Center and gave the stock a “sell” rating in a report on Tuesday. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Rent-A-Center in a report on Wednesday, October 25th. Finally, BidaskClub raised shares of Rent-A-Center from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $11.21.

Shares of Rent-A-Center (NASDAQ:RCII) traded up 1.258% during midday trading on Wednesday, hitting $10.065. The company had a trading volume of 1,457,154 shares. The company’s market capitalization is $536.47 million. The company’s 50-day moving average price is $11.07 and its 200 day moving average price is $11.78. Rent-A-Center has a 12-month low of $7.76 and a 12-month high of $13.89.

Rent-A-Center (NASDAQ:RCII) last released its quarterly earnings data on Monday, October 30th. The company reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.07). The business had revenue of $643.97 million during the quarter, compared to the consensus estimate of $649.09 million. Rent-A-Center had a negative return on equity of 0.65% and a negative net margin of 6.35%. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the business posted $0.11 earnings per share. Equities research analysts predict that Rent-A-Center will post $0.10 earnings per share for the current fiscal year.

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A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Rent-A-Center by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 7,115,980 shares of the company’s stock valued at $63,118,000 after purchasing an additional 223,478 shares during the period. Frontier Capital Management Co. LLC boosted its holdings in Rent-A-Center by 2.2% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 3,215,402 shares of the company’s stock valued at $36,913,000 after purchasing an additional 68,605 shares during the period. Arlington Value Capital LLC boosted its holdings in Rent-A-Center by 85.2% in the 2nd quarter. Arlington Value Capital LLC now owns 2,722,514 shares of the company’s stock valued at $31,907,000 after purchasing an additional 1,252,756 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Rent-A-Center by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,276,061 shares of the company’s stock valued at $20,190,000 after purchasing an additional 23,437 shares during the period. Finally, Brandes Investment Partners LP boosted its holdings in Rent-A-Center by 2.4% in the 2nd quarter. Brandes Investment Partners LP now owns 2,072,495 shares of the company’s stock valued at $24,290,000 after purchasing an additional 49,068 shares during the period.

About Rent-A-Center

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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