Upbound Group, Inc. (NASDAQ:UPBD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Upbound Group, Inc. (NASDAQ:UPBD) have received an average rating of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $32.25.

UPBD has been the topic of several recent research reports. BTIG Research reduced their price target on Upbound Group from $40.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Wall Street Zen downgraded shares of Upbound Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Upbound Group in a research report on Monday, December 29th. Zacks Research raised shares of Upbound Group from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Finally, TD Cowen reissued a “buy” rating on shares of Upbound Group in a research note on Thursday, January 8th.

Insiders Place Their Bets

In other news, Director Jeffrey J. Brown acquired 2,502 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was acquired at an average price of $17.68 per share, for a total transaction of $44,235.36. Following the completion of the acquisition, the director owned 92,972 shares in the company, valued at $1,643,744.96. This trade represents a 2.77% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Upbound Group

Hedge funds and other institutional investors have recently modified their holdings of the business. FNY Investment Advisers LLC purchased a new position in Upbound Group during the 3rd quarter valued at about $32,000. Quarry LP lifted its holdings in shares of Upbound Group by 913.1% during the third quarter. Quarry LP now owns 1,388 shares of the company’s stock valued at $33,000 after purchasing an additional 1,251 shares during the last quarter. Security National Bank purchased a new stake in shares of Upbound Group in the 3rd quarter worth approximately $57,000. GAMMA Investing LLC grew its stake in shares of Upbound Group by 414.1% in the 2nd quarter. GAMMA Investing LLC now owns 2,617 shares of the company’s stock worth $66,000 after buying an additional 2,108 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Upbound Group during the 2nd quarter valued at approximately $95,000. 90.30% of the stock is owned by hedge funds and other institutional investors.

Upbound Group Trading Up 1.6%

Shares of UPBD opened at $18.90 on Friday. The company has a debt-to-equity ratio of 2.25, a current ratio of 3.16 and a quick ratio of 0.98. Upbound Group has a 1-year low of $15.82 and a 1-year high of $30.62. The company has a market capitalization of $1.09 billion, a P/E ratio of 13.03 and a beta of 1.85. The firm’s 50 day simple moving average is $18.49 and its 200 day simple moving average is $21.27.

Upbound Group (NASDAQ:UPBD) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. Upbound Group had a return on equity of 36.08% and a net margin of 1.85%.The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the business posted $0.95 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Sell-side analysts forecast that Upbound Group will post 4.28 earnings per share for the current fiscal year.

Upbound Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Wednesday, December 17th were given a dividend of $0.39 per share. The ex-dividend date was Wednesday, December 17th. This represents a $1.56 annualized dividend and a dividend yield of 8.3%. Upbound Group’s payout ratio is currently 107.59%.

Upbound Group Company Profile

Upbound Group, Inc leases household durable goods to customers on a lease-to-own basis in the United States, Puerto Rico, and Mexico. It operates through four segments: Rent-A-Center, Acima, Mexico, and Franchising. The company's brands, such as Rent-A-Center and Acima that facilitate consumer transactions across a range of store-based and virtual channels. It offers furniture comprising mattresses, tires, consumer electronics, appliances, tools, handbags, computers, smartphones, and accessories.