FirstCash (FCFS) Rating Increased to Hold at Zacks Investment Research

FirstCash (NYSE:FCFS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

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 stock traded down $0.87 during trading on Tuesday, hitting $88.89. 225,500 shares of the company traded hands, compared to its average volume of 209,967. FirstCash has a 1 year low of $66.28 and a 1 year high of $95.40.

FirstCash (NYSE:FCFS) last announced its quarterly earnings results on Thursday, January 31st. The credit services provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.01. The company had revenue of $481.21 million for the quarter, compared to analysts’ expectations of $489.76 million.

In other news, Director Daniel R. Feehan sold 3,907 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $89.66, for a total value of $350,301.62. Following the completion of the sale, the director now directly owns 56,008 shares in the company, valued at $5,021,677.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel R. Feehan sold 11,093 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $88.84, for a total value of $985,502.12. Following the completion of the sale, the director now owns 56,008 shares of the company’s stock, valued at $4,975,750.72. The disclosure for this sale can be found here. Insiders sold 22,500 shares of company stock valued at $2,004,554 over the last 90 days. Company insiders own 2.83% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc boosted its stake in shares of FirstCash by 1.1% in the third quarter. Vanguard Group Inc now owns 4,466,507 shares of the credit services provider’s stock worth $366,254,000 after acquiring an additional 49,593 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of FirstCash by 1.1% in the third quarter. Vanguard Group Inc. now owns 4,466,507 shares of the credit services provider’s stock worth $366,254,000 after acquiring an additional 49,593 shares during the last quarter. FMR LLC boosted its stake in shares of FirstCash by 145.6% in the fourth quarter. FMR LLC now owns 1,749,457 shares of the credit services provider’s stock worth $126,572,000 after acquiring an additional 1,037,258 shares during the last quarter. APG Asset Management N.V. boosted its stake in shares of FirstCash by 2.2% in the fourth quarter. APG Asset Management N.V. now owns 839,300 shares of the credit services provider’s stock worth $53,119,000 after acquiring an additional 18,200 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of FirstCash by 5.8% in the fourth quarter. Bank of America Corp DE now owns 757,055 shares of the credit services provider’s stock worth $54,772,000 after acquiring an additional 41,815 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

About FirstCash

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: Dividend

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