PROG (NYSE:PRG) Rating Lowered to Buy at Wall Street Zen

PROG (NYSE:PRG) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group raised shares of PROG from a “hold” rating to a “buy” rating and increased their price target for the stock from $33.00 to $60.00 in a research note on Wednesday, July 8th. KeyCorp upped their price objective on PROG from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Loop Capital cut PROG from a “buy” rating to a “hold” rating and set a $48.00 target price on the stock. in a report on Wednesday, July 1st. B. Riley Financial boosted their price target on PROG from $57.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, TD Cowen raised their price objective on PROG from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.44.

PROG Stock Up 0.2%

Shares of NYSE:PRG opened at $39.19 on Friday. The company has a current ratio of 4.03, a quick ratio of 2.29 and a debt-to-equity ratio of 1.10. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 10.83 and a beta of 1.79. The stock’s 50-day moving average price is $43.19 and its two-hundred day moving average price is $36.71. PROG has a 12-month low of $25.80 and a 12-month high of $47.73.

PROG (NYSE:PRG) last posted its quarterly earnings data on Wednesday, July 29th. The fintech holding company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.24. The company had revenue of $719.72 million during the quarter, compared to the consensus estimate of $713.50 million. PROG had a net margin of 5.57% and a return on equity of 21.88%. PROG has set its Q3 2026 guidance at 1.000-1.200 EPS and its FY 2026 guidance at 4.750-5.000 EPS. On average, research analysts forecast that PROG will post 4.95 EPS for the current year.

Insider Buying and Selling at PROG

In related news, insider Michael Todd King sold 1,070 shares of PROG stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $46.00, for a total transaction of $49,220.00. Following the transaction, the insider owned 60,825 shares in the company, valued at approximately $2,797,950. The trade was a 1.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO George M. Sewell sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $45.53, for a total transaction of $91,060.00. Following the sale, the chief accounting officer directly owned 28,385 shares of the company’s stock, valued at approximately $1,292,369.05. This trade represents a 6.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,000 shares of company stock worth $183,060 in the last 90 days. Company insiders own 3.72% of the company’s stock.

Institutional Investors Weigh In On PROG

Several institutional investors and hedge funds have recently modified their holdings of the stock. Ameritas Advisory Services LLC purchased a new stake in shares of PROG during the 2nd quarter valued at about $44,000. Quarry LP boosted its holdings in PROG by 82.8% in the 4th quarter. Quarry LP now owns 1,117 shares of the fintech holding company’s stock worth $33,000 after acquiring an additional 506 shares during the period. Global Assets Advisory LLC purchased a new position in PROG in the 1st quarter worth approximately $38,000. Federation des caisses Desjardins du Quebec acquired a new stake in PROG in the fourth quarter valued at approximately $44,000. Finally, WealthCollab LLC grew its position in PROG by 61.9% in the second quarter. WealthCollab LLC now owns 2,092 shares of the fintech holding company’s stock valued at $61,000 after acquiring an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 97.92% of the company’s stock.

About PROG

PROG Holdings, Inc, formerly known as Aaron’s, is a North American provider of lease-to-own and consumer finance solutions. The company operates through two primary segments: Aaron’s Business Solutions and Progressive Financial Services. Through Aaron’s Business Solutions, PROG offers customers access to furniture, electronics, home appliances and technology products via lease ownership arrangements, serving both individual consumers and small businesses.

The Progressive Financial Services segment provides lease-purchase and retail point-of-sale financing programs to customers with limited credit histories.