KeyCorp Trims PROG (NYSE:PRG) Target Price to $40.00

PROG (NYSE:PRGGet Rating) had its price objective cut by KeyCorp from $50.00 to $40.00 in a report issued on Friday, Stock Target Advisor reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price objective indicates a potential upside of 141.40% from the stock’s previous close.

Separately, Raymond James dropped their price target on PROG from $55.00 to $42.00 and set an “outperform” rating for the company in a research report on Thursday, February 24th.

NYSE PRG opened at $16.57 on Friday. The firm has a market capitalization of $895.44 million, a P/E ratio of 5.60, a PEG ratio of 0.84 and a beta of 1.87. The business has a fifty day simple moving average of $26.99 and a 200 day simple moving average of $33.76. PROG has a 12 month low of $16.22 and a 12 month high of $51.05. The company has a current ratio of 3.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.93.

PROG (NYSE:PRGGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.17). PROG had a return on equity of 24.37% and a net margin of 7.17%. The firm had revenue of $710.46 million during the quarter, compared to analysts’ expectations of $719.20 million. During the same period last year, the business posted $1.22 EPS. The company’s revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts predict that PROG will post 3.34 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in PROG by 38.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,941 shares of the company’s stock valued at $403,000 after buying an additional 2,470 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of PROG by 313.1% during the 4th quarter. Marshall Wace LLP now owns 350,096 shares of the company’s stock worth $15,793,000 after acquiring an additional 265,342 shares during the last quarter. Vulcan Value Partners LLC increased its holdings in shares of PROG by 34.6% in the 4th quarter. Vulcan Value Partners LLC now owns 2,063,667 shares of the company’s stock valued at $93,092,000 after acquiring an additional 530,587 shares during the period. Comerica Bank increased its holdings in shares of PROG by 4.5% in the 3rd quarter. Comerica Bank now owns 323,695 shares of the company’s stock valued at $15,197,000 after acquiring an additional 14,086 shares during the period. Finally, DGS Capital Management LLC acquired a new stake in shares of PROG in the 4th quarter worth $247,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

About PROG (Get Rating)

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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