Zacks Investment Research Lowers FirstCash (NYSE:FCFS) to Sell
According to Zacks, “FirstCash Inc. is an operator of pawn stores. The company focuses on serving cash and credit constrained consumers through its retail pawn locations, which buy and sell jewelry, consumer electronics, power tools, household appliances, sporting goods, musical instruments and other merchandise. It operates primarily in the U.S., Mexico, Guatemala and El Salvador. FirstCash, Inc., formerly known as First Cash Financial Services Inc., is based in Arlington, United States. “
Several other equities analysts also recently weighed in on the stock. Barclays restated a hold rating and set a $23.00 target price on shares of Cypress Semiconductor in a report on Thursday, June 6th. Jefferies Financial Group set a €110.00 ($127.91) price target on shares of Airbus and gave the stock a buy rating in a report on Friday, June 14th. Finally, JMP Securities lowered their price target on shares of Tesla from $374.00 to $369.00 and set a market outperform rating for the company in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $106.00.
FirstCash (NYSE:FCFS) last posted its earnings results on Wednesday, April 24th. The credit services provider reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.08. The business had revenue of $467.60 million for the quarter, compared to analysts’ expectations of $453.90 million. During the same quarter last year, the business posted $0.90 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year.
In other news, CFO R Douglas Orr sold 7,500 shares of FirstCash stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $96.94, for a total transaction of $727,050.00. Following the completion of the sale, the chief financial officer now directly owns 142,500 shares in the company, valued at $13,813,950. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.83% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Manchester Capital Management LLC purchased a new stake in FirstCash in the first quarter valued at approximately $38,000. Howe & Rusling Inc. purchased a new stake in FirstCash in the first quarter valued at approximately $87,000. Advisor Group Inc. grew its holdings in FirstCash by 18.0% in the fourth quarter. Advisor Group Inc. now owns 2,339 shares of the credit services provider’s stock valued at $170,000 after purchasing an additional 356 shares during the period. Caxton Associates LP purchased a new stake in FirstCash in the fourth quarter valued at approximately $229,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in FirstCash in the first quarter valued at approximately $230,000. Institutional investors and hedge funds own 95.30% of the company’s stock.
FirstCash, Inc operates retail-based pawn and consumer finance stores in the United States and Mexico. Its pawn stores lend money on the collateral of pledged personal property, including consumer electronics, jewelry, power tools, household appliances, sporting goods, and musical instruments; and retails previously owned merchandise acquired through pawn forfeitures, as well as through purchases from the general public.
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