FirstCash (NYSE:FCFS) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of FirstCash (NYSE:FCFS) from a hold rating to a sell rating in a report published on Tuesday morning, 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. “

A number of other analysts have also commented on FCFS. Jefferies Financial Group set a €110.00 ($127.91) price target on Airbus and gave the company a buy rating in a research note on Friday, June 14th. Barclays reissued a hold rating and set a $23.00 price target on shares of Cypress Semiconductor in a research note on Thursday, June 6th. Finally, JMP Securities lowered their price objective on Tesla from $374.00 to $369.00 and set a market outperform rating for the company in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $106.00.

Shares of FCFS stock opened at $103.08 on Tuesday. The company’s 50-day moving average price is $98.59. FirstCash has a 12 month low of $66.28 and a 12 month high of $104.05.

FirstCash (NYSE:FCFS) last announced its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.08. The firm had revenue of $467.60 million for the quarter, compared to analyst estimates of $453.90 million. During the same period in the previous year, the business posted $0.90 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year.

In other news, CFO R Douglas Orr sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $96.94, for a total transaction of $727,050.00. Following the completion of the transaction, the chief financial officer now directly owns 142,500 shares in the company, valued at $13,813,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.83% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in shares of FirstCash by 6.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,304 shares of the credit services provider’s stock worth $311,000 after acquiring an additional 265 shares during the last quarter. New York State Common Retirement Fund increased its holdings in FirstCash by 0.3% in the first quarter. New York State Common Retirement Fund now owns 437,964 shares of the credit services provider’s stock worth $37,884,000 after purchasing an additional 1,400 shares in the last quarter. Texas Permanent School Fund increased its holdings in FirstCash by 3.1% in the first quarter. Texas Permanent School Fund now owns 29,580 shares of the credit services provider’s stock worth $2,559,000 after purchasing an additional 897 shares in the last quarter. Bank of America Corp DE increased its holdings in 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 purchasing an additional 41,815 shares in the last quarter. Finally, Norges Bank bought a new stake in FirstCash in the fourth quarter worth approximately $45,598,000. Institutional investors own 95.30% of the company’s stock.

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.

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