PROG (NYSE:PRG – Get Free Report) had its price objective raised by investment analysts at Loop Capital from $31.00 to $35.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Loop Capital’s price target would indicate a potential upside of 0.23% from the stock’s previous close.
Several other equities analysts also recently commented on PRG. TD Cowen boosted their price target on shares of PROG from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday. Stephens upgraded shares of PROG from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, PROG has a consensus rating of “Moderate Buy” and an average price target of $39.60.
Check Out Our Latest Analysis on PROG
PROG Trading Down 2.1 %
PROG (NYSE:PRG – Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.83 by $0.08. The business had revenue of $641.87 million during the quarter, compared to the consensus estimate of $632.24 million. PROG had a net margin of 5.77% and a return on equity of 28.83%. As a group, sell-side analysts forecast that PROG will post 2.83 EPS for the current fiscal year.
Institutional Investors Weigh In On PROG
A number of institutional investors and hedge funds have recently made changes to their positions in PRG. AE Wealth Management LLC purchased a new stake in shares of PROG in the third quarter valued at about $443,000. SG Americas Securities LLC purchased a new position in PROG during the third quarter worth about $1,901,000. Counterpoint Mutual Funds LLC raised its holdings in PROG by 19.0% during the third quarter. Counterpoint Mutual Funds LLC now owns 3,572 shares of the company’s stock worth $119,000 after purchasing an additional 570 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in PROG by 152.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 63,390 shares of the company’s stock worth $2,105,000 after buying an additional 38,244 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in PROG by 27.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,310 shares of the company’s stock worth $309,000 after buying an additional 2,020 shares during the period. 97.92% of the stock is owned by hedge funds and other institutional investors.
PROG Company Profile
PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.
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