BidaskClub upgraded shares of Rent-A-Center (NASDAQ:RCII) from a sell rating to a hold rating in a research report released on Saturday morning.
RCII has been the topic of several other research reports. Janney Montgomery Scott downgraded shares of Rent-A-Center from a buy rating to a neutral rating in a research note on Monday, June 18th. Stephens raised shares of Rent-A-Center from an underweight rating to an equal rating in a research note on Monday, June 18th. Stifel Nicolaus upped their price objective on shares of Rent-A-Center from $9.00 to $12.00 and gave the company a hold rating in a research note on Tuesday, June 12th. TheStreet raised shares of Rent-A-Center from a d+ rating to a c- rating in a research note on Monday, July 9th. Finally, Zacks Investment Research raised shares of Rent-A-Center from a hold rating to a buy rating and set a $17.00 price objective on the stock in a research note on Wednesday, July 4th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Rent-A-Center has a consensus rating of Hold and an average target price of $11.00.
Shares of RCII opened at $14.30 on Friday. The company has a current ratio of 2.60, a quick ratio of 0.67 and a debt-to-equity ratio of 2.15. The company has a market cap of $769.44 million, a P/E ratio of -26.50 and a beta of 0.59. Rent-A-Center has a 1 year low of $7.22 and a 1 year high of $14.94.
Rent-A-Center (NASDAQ:RCII) last announced its quarterly earnings data on Monday, July 30th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.24. The business had revenue of $655.70 million for the quarter, compared to the consensus estimate of $645.49 million. Rent-A-Center had a net margin of 0.61% and a negative return on equity of 3.42%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. On average, equities analysts predict that Rent-A-Center will post 0.75 EPS for the current year.
In other Rent-A-Center news, insider Engaged Capital Llc sold 4,450,000 shares of the stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $14.67, for a total transaction of $65,281,500.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.88% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Northern Trust Corp raised its stake in Rent-A-Center by 4.5% during the second quarter. Northern Trust Corp now owns 593,701 shares of the company’s stock worth $8,739,000 after purchasing an additional 25,637 shares during the period. Exane Asset Management purchased a new position in Rent-A-Center during the second quarter worth approximately $2,617,000. Public Employees Retirement System of Ohio raised its stake in Rent-A-Center by 506.9% during the second quarter. Public Employees Retirement System of Ohio now owns 84,111 shares of the company’s stock worth $1,238,000 after purchasing an additional 70,252 shares during the period. Bank of America Corp DE raised its stake in Rent-A-Center by 249.1% during the second quarter. Bank of America Corp DE now owns 216,006 shares of the company’s stock worth $3,180,000 after purchasing an additional 154,135 shares during the period. Finally, OppenheimerFunds Inc. raised its stake in Rent-A-Center by 55.1% during the second quarter. OppenheimerFunds Inc. now owns 284,913 shares of the company’s stock worth $4,193,000 after purchasing an additional 101,271 shares during the period. 95.96% of the stock is currently owned by institutional investors.
Rent-A-Center Company Profile
Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a rent-to-own basis. The company operates through four segments: Core U.S., Acceptance Now, Mexico, and Franchising. It offers durable products, such as consumer electronics; appliances; computers, including tablets; smartphones; and furniture, including accessories under rental purchase agreements.
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