FirstCash (NASDAQ:FCFS) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of FirstCash (NASDAQ:FCFS) from a hold rating to a strong-buy rating in a report issued on Wednesday,Zacks.com reports.

A number of other analysts have also issued reports on FCFS. Wall Street Zen lowered FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 15th. Canaccord Genuity Group increased their price target on FirstCash from $242.00 to $252.00 and gave the company a “buy” rating in a report on Friday, April 24th. Weiss Ratings downgraded FirstCash from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday. Finally, TD Cowen upped their target price on FirstCash from $205.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, FirstCash currently has an average rating of “Buy” and an average price target of $198.00.

FirstCash Stock Up 1.2%

Shares of NASDAQ:FCFS opened at $218.22 on Wednesday. The company has a 50 day moving average of $197.12 and a two-hundred day moving average of $175.22. The company has a market capitalization of $9.57 billion, a price-to-earnings ratio of 27.35 and a beta of 0.47. FirstCash has a 52-week low of $119.21 and a 52-week high of $227.26. The company has a quick ratio of 3.42, a current ratio of 4.77 and a debt-to-equity ratio of 0.98.

FirstCash (NASDAQ:FCFS) last released its quarterly earnings results on Thursday, April 23rd. The company reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.39. FirstCash had a net margin of 9.15% and a return on equity of 18.68%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the firm posted $2.07 EPS. The firm’s quarterly revenue was up 25.7% on a year-over-year basis. As a group, analysts forecast that FirstCash will post 11.3 earnings per share for the current fiscal year.

FirstCash Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, May 15th. FirstCash’s dividend payout ratio is 21.05%.

Insider Transactions at FirstCash

In related news, COO Thomas Brent Stuart sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $182.53, for a total value of $1,825,300.00. Following the completion of the sale, the chief operating officer directly owned 150,846 shares of the company’s stock, valued at $27,533,920.38. The trade was a 6.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Howard F. Hambleton sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $185.12, for a total value of $740,480.00. Following the sale, the insider owned 35,406 shares in the company, valued at $6,554,358.72. The trade was a 10.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 26,500 shares of company stock valued at $4,783,985. Insiders own 2.93% of the company’s stock.

Institutional Investors Weigh In On FirstCash

A number of institutional investors have recently made changes to their positions in the company. Root Financial Partners LLC bought a new position in FirstCash during the third quarter worth $25,000. Harbor Investment Advisory LLC bought a new stake in FirstCash during the first quarter valued at $26,000. Rothschild Investment LLC increased its stake in FirstCash by 127.8% during the third quarter. Rothschild Investment LLC now owns 180 shares of the company’s stock valued at $29,000 after purchasing an additional 101 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of FirstCash by 490.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 195 shares of the company’s stock worth $31,000 after purchasing an additional 162 shares during the period. Finally, Community Bank N.A. acquired a new stake in shares of FirstCash during the third quarter worth $32,000. 80.30% of the stock is currently owned by institutional investors.

About FirstCash

FirstCash, Inc (NASDAQ: FCFS) is a leading integrated operator of pawn stores and provider of short-term consumer loan services in the United States and Mexico. Through its retail pawn outlets, FirstCash offers collateral-based loans secured by personal property, enabling customers to access liquidity without a credit history or traditional bank account. The company also purchases, trades and sells a broad range of secondhand merchandise, including electronics, jewelry and power tools, through its network of conveniently located stores.

In addition to its pawn-broking activities, FirstCash provides unsecured consumer loans designed to meet urgent cash needs.