Brokerages Set Rent-A-Center Inc (NASDAQ:RCII) Target Price at $29.75
Rent-A-Center Inc (NASDAQ:RCII) has been given an average rating of “Buy” by the nine research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $29.75.
Several research firms recently commented on RCII. Stifel Nicolaus boosted their price target on Rent-A-Center from $19.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. KeyCorp restated a “hold” rating on shares of Rent-A-Center in a research note on Wednesday, April 8th. ValuEngine upgraded Rent-A-Center from a “strong sell” rating to a “sell” rating in a research note on Monday, March 9th. BidaskClub cut Rent-A-Center from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, Stephens upgraded Rent-A-Center from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $23.00 to $33.00 in a research note on Thursday, May 14th.
RCII stock traded up $0.59 during trading on Friday, reaching $27.72. 151,034 shares of the stock traded hands, compared to its average volume of 468,554. The business’s 50 day moving average price is $25.47 and its 200-day moving average price is $23.83. Rent-A-Center has a 52-week low of $11.69 and a 52-week high of $31.14. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.25 and a quick ratio of 0.93. The firm has a market capitalization of $1.47 billion, a PE ratio of 7.23 and a beta of 1.54.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Friday, July 10th will be given a $0.29 dividend. The ex-dividend date is Thursday, July 9th. This represents a $1.16 dividend on an annualized basis and a yield of 4.19%. Rent-A-Center’s dividend payout ratio (DPR) is 51.79%.
In related news, Director Christopher B. Hetrick acquired 8,725 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $23.80 per share, for a total transaction of $207,655.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at $119,000. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey J. Brown acquired 20,000 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were bought at an average price of $23.01 per share, with a total value of $460,200.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $460,200. The disclosure for this purchase can be found here. Corporate insiders own 0.80% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its holdings in shares of Rent-A-Center by 1.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 39,238 shares of the company’s stock valued at $1,132,000 after purchasing an additional 430 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of Rent-A-Center by 25.5% in the first quarter. Mutual of America Capital Management LLC now owns 2,187 shares of the company’s stock valued at $31,000 after purchasing an additional 445 shares in the last quarter. Mason Street Advisors LLC lifted its holdings in shares of Rent-A-Center by 3.5% in the fourth quarter. Mason Street Advisors LLC now owns 17,164 shares of the company’s stock valued at $495,000 after purchasing an additional 579 shares in the last quarter. Chesapeake Wealth Management lifted its holdings in shares of Rent-A-Center by 1.7% in the first quarter. Chesapeake Wealth Management now owns 39,355 shares of the company’s stock valued at $556,000 after purchasing an additional 658 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Rent-A-Center by 0.6% in the first quarter. Legal & General Group Plc now owns 141,449 shares of the company’s stock valued at $2,000,000 after purchasing an additional 810 shares in the last quarter. Institutional investors own 98.13% of the company’s stock.
Rent-A-Center Company Profile
Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a rent-to-own basis. The company operates through four segments: Core U.S., Acceptance Now, Mexico, and Franchising. It offers durable products, such as consumer electronics; appliances; computers, including tablets; smartphones; wheels and tires; and furniture, including accessories under rental purchase agreements.
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