Brokerages Set FirstCash Inc (FCFS) Target Price at $95.75

FirstCash Inc (NYSE:FCFS) has been assigned a consensus rating of “Buy” from the seven ratings firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $95.75.

Several research firms have recently commented on FCFS. Zacks Investment Research downgraded shares of FirstCash from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Barclays initiated coverage on shares of FirstCash in a report on Wednesday, September 26th. They set an “overweight” rating and a $95.00 price target on the stock. ValuEngine cut shares of FirstCash from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, Wedbush upgraded shares of FirstCash from a “neutral” rating to an “outperform” rating and set a $90.00 price target on the stock in a report on Friday, October 26th.

In other FirstCash news, CFO R Douglas Orr sold 2,500 shares of the business’s stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $85.00, for a total value of $212,500.00. Following the transaction, the chief financial officer now directly owns 157,500 shares in the company, valued at $13,387,500. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.83% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlueMountain Capital Management LLC raised its position in shares of FirstCash by 34.2% in the second quarter. BlueMountain Capital Management LLC now owns 6,845 shares of the credit services provider’s stock valued at $615,000 after purchasing an additional 1,745 shares during the period. Zions Bancorporation bought a new stake in shares of FirstCash in the second quarter valued at approximately $327,000. BlackRock Inc. raised its position in shares of FirstCash by 5.6% in the second quarter. BlackRock Inc. now owns 6,376,093 shares of the credit services provider’s stock valued at $572,893,000 after purchasing an additional 337,895 shares during the period. Integrated Investment Consultants LLC bought a new stake in shares of FirstCash in the second quarter valued at approximately $387,000. Finally, Federated Investors Inc. PA bought a new stake in shares of FirstCash in the second quarter valued at approximately $1,689,000. 95.30% of the stock is currently owned by institutional investors.

Shares of NYSE:FCFS traded up $0.76 during midday trading on Monday, hitting $89.05. 268,742 shares of the company’s stock were exchanged, compared to its average volume of 282,090. FirstCash has a 12 month low of $65.55 and a 12 month high of $95.40.

FirstCash (NYSE:FCFS) last posted its earnings results on Thursday, October 25th. The credit services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.80 by $0.01. The business had revenue of $429.88 million for the quarter, compared to the consensus estimate of $440.46 million.

The business also recently announced a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Thursday, November 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.12%. This is a boost from FirstCash’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, November 14th.

FirstCash declared that its board has authorized a share buyback plan on Thursday, October 25th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the credit services provider to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

FirstCash Company Profile

FirstCash, Inc operates retail-based pawn and consumer finance stores in the United States and Mexico. Its pawn stores lend money on the collateral of pledged personal property, including consumer electronics, jewelry, power tools, household appliances, sporting goods, and musical instruments; and retails previously owned merchandise acquired through pawn forfeitures, as well as through purchases from the general public.

Further Reading: Dow Jones Industrial Average (DJIA)

Analyst Recommendations for FirstCash (NYSE:FCFS)

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