Franchise Group, Inc. (NASDAQ:FRG) Short Interest Up 20.4% in April
Franchise Group, Inc. (NASDAQ:FRG) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 703,400 shares, an increase of 20.4% from the March 31st total of 584,000 shares. Based on an average daily volume of 0 shares, the short-interest ratio is presently ∞ days.
A number of research firms have recently issued reports on FRG. B. Riley boosted their target price on Franchise Group from $38.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, March 11th. DA Davidson upped their price objective on Franchise Group from $40.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, March 11th. Barrington Research upped their price objective on Franchise Group from $40.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, March 11th. They noted that the move was a valuation call. Oppenheimer began coverage on Franchise Group in a report on Tuesday, April 27th. They set an “outperform” rating and a $50.00 price objective on the stock. Finally, Zacks Investment Research raised Franchise Group from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Tuesday, March 16th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Franchise Group has an average rating of “Buy” and a consensus target price of $44.43.
Large investors have recently modified their holdings of the company. Wells Fargo & Company MN lifted its position in shares of Franchise Group by 4.2% in the fourth quarter. Wells Fargo & Company MN now owns 915,515 shares of the company’s stock valued at $27,877,000 after acquiring an additional 37,228 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Franchise Group by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 167,577 shares of the company’s stock worth $5,103,000 after buying an additional 2,764 shares during the period. Victory Capital Management Inc. lifted its position in Franchise Group by 27.0% during the fourth quarter. Victory Capital Management Inc. now owns 44,080 shares of the company’s stock worth $1,342,000 after buying an additional 9,367 shares during the period. Hodges Capital Management Inc. purchased a new position in Franchise Group during the first quarter worth about $374,000. Finally, Citigroup Inc. lifted its position in Franchise Group by 319.0% during the fourth quarter. Citigroup Inc. now owns 4,391 shares of the company’s stock worth $134,000 after buying an additional 3,343 shares during the period. Institutional investors and hedge funds own 43.32% of the company’s stock.
Franchise Group (NASDAQ:FRG) last posted its earnings results on Tuesday, March 9th. The company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.24. The company had revenue of $496.32 million for the quarter, compared to the consensus estimate of $498.13 million. Franchise Group had a return on equity of 12.37% and a net margin of 0.94%. Analysts anticipate that Franchise Group will post 2.7 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st were given a $0.375 dividend. The ex-dividend date was Tuesday, March 30th. This represents a $1.50 annualized dividend and a dividend yield of 3.86%.
About Franchise Group
Franchise Group, Inc operates as a retailer, franchisor operator, and acquirer of franchised and franchisable businesses. It operates through 4 segments: Liberty Tax, Buddy's, Sears Outlet, and Vitamin Shoppe. The company provides tax preparation services in the United States and Canada; and franchises and operates rent-to-own stores that lease durable goods, such as electronics, residential furniture, appliances, and household accessories to customers.
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