Rent-A-Center (NASDAQ:RCII) Downgraded to Hold at StockNews.com

Rent-A-Center (NASDAQ:RCII – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Other research analysts have also issued reports about the stock. Raymond James reaffirmed a “maintains” rating on shares of Rent-A-Center in a research note on Wednesday, July 27th. Stephens downgraded shares of Rent-A-Center from an “overweight” rating to an “equal weight” rating and set a $42.00 price objective for the company. in a report on Wednesday, June 29th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Rent-A-Center has a consensus rating of “Moderate Buy” and an average price target of $52.75.

Rent-A-Center Stock Performance

Shares of Rent-A-Center stock opened at $24.02 on Tuesday. The company has a 50 day moving average of $22.97 and a 200-day moving average of $28.01. The company has a market cap of $1.42 billion, a PE ratio of 18.77 and a beta of 1.67. Rent-A-Center has a 1-year low of $18.88 and a 1-year high of $67.76. The company has a current ratio of 3.25, a quick ratio of 0.73 and a debt-to-equity ratio of 2.68.

Rent-A-Center (NASDAQ:RCII – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.03. Rent-A-Center had a net margin of 1.87% and a return on equity of 48.47%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the company posted $1.32 EPS. The company’s revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts forecast that Rent-A-Center will post 4.47 earnings per share for the current fiscal year.

Insider Transactions at Rent-A-Center

In related news, Director Jeffrey J. Brown bought 1,223 shares of the firm’s stock in a transaction that occurred on Tuesday, July 12th. The shares were bought at an average cost of $20.69 per share, with a total value of $25,303.87. Following the acquisition, the director now owns 75,669 shares in the company, valued at $1,565,591.61. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RCII. Allspring Global Investments Holdings LLC purchased a new stake in shares of Rent-A-Center during the fourth quarter valued at $877,000. State of New Jersey Common Pension Fund D lifted its position in Rent-A-Center by 43.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 61,769 shares of the company’s stock valued at $2,967,000 after acquiring an additional 18,791 shares during the last quarter. Yousif Capital Management LLC purchased a new position in Rent-A-Center during the 4th quarter worth $2,576,000. CWM LLC acquired a new stake in Rent-A-Center in the 4th quarter worth approximately $92,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Rent-A-Center during the fourth quarter valued at $222,000. 81.66% of the stock is currently owned by institutional investors.

About Rent-A-Center

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Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a lease-to-own basis. The company operates in four segments: Rent-A-Center Business, Acima, Mexico, and Franchising. It offers furniture and accessories, appliances, consumer electronics, computers, tablets and smartphones, tools, tires, handbags, and other accessories under rental purchase agreements.

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