PROG (NYSE:PRG) Downgraded by Zacks Research to “Hold”

PROG (NYSE:PRG) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

PRG has been the topic of a number of other research reports. Loop Capital downgraded PROG from a “buy” rating to a “hold” rating in a research report on Wednesday. Weiss Ratings raised shares of PROG from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 24th. TD Cowen raised their target price on shares of PROG from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Wall Street Zen cut PROG from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 14th. Finally, B. Riley Financial restated a “buy” rating on shares of PROG in a research note on Thursday, April 30th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.70.

PROG Stock Performance

Shares of PRG stock opened at $46.72 on Monday. PROG has a 12 month low of $25.80 and a 12 month high of $47.60. The company’s fifty day simple moving average is $36.18 and its 200-day simple moving average is $33.18. The firm has a market cap of $1.87 billion, a PE ratio of 12.77 and a beta of 1.82. The company has a quick ratio of 2.41, a current ratio of 4.27 and a debt-to-equity ratio of 1.21.

PROG (NYSE:PRG) last released its earnings results on Wednesday, April 29th. The fintech holding company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.46. PROG had a net margin of 5.88% and a return on equity of 21.94%. The business had revenue of $742.67 million during the quarter, compared to the consensus estimate of $732.70 million. During the same quarter last year, the firm earned $0.90 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. PROG has set its Q2 2026 guidance at 1.050-1.050 EPS. Equities research analysts expect that PROG will post 4.7 EPS for the current fiscal year.

Hedge Funds Weigh In On PROG

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRG. Goldman Sachs Group Inc. raised its stake in shares of PROG by 436.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,824,091 shares of the fintech holding company’s stock valued at $53,792,000 after acquiring an additional 1,483,751 shares during the last quarter. State Street Corp grew its holdings in PROG by 5.6% during the 4th quarter. State Street Corp now owns 1,679,355 shares of the fintech holding company’s stock worth $49,524,000 after acquiring an additional 89,035 shares during the period. LSV Asset Management grew its stake in PROG by 37.7% in the fourth quarter. LSV Asset Management now owns 1,159,874 shares of the fintech holding company’s stock valued at $34,205,000 after acquiring an additional 317,600 shares during the period. First Trust Advisors LP increased its position in shares of PROG by 588.0% during the first quarter. First Trust Advisors LP now owns 840,029 shares of the fintech holding company’s stock worth $24,100,000 after acquiring an additional 717,932 shares in the last quarter. Finally, UBS Group AG boosted its stake in PROG by 102.4% during the 3rd quarter. UBS Group AG now owns 823,663 shares of the fintech holding company’s stock valued at $26,654,000 after purchasing an additional 416,658 shares during the last quarter. 97.92% of the stock is currently owned by institutional investors and hedge funds.

PROG Company Profile

PROG Holdings, Inc, formerly known as Aaron’s, is a North American provider of lease-to-own and consumer finance solutions. The company operates through two primary segments: Aaron’s Business Solutions and Progressive Financial Services. Through Aaron’s Business Solutions, PROG offers customers access to furniture, electronics, home appliances and technology products via lease ownership arrangements, serving both individual consumers and small businesses.

The Progressive Financial Services segment provides lease-purchase and retail point-of-sale financing programs to customers with limited credit histories.