FirstCash (NASDAQ:FCFS) Price Target Raised to $242.00

FirstCash (NASDAQ:FCFS) had its price objective increased by TD Cowen from $240.00 to $242.00 in a research report released on Tuesday, Marketbeat Ratings reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Stephens reissued an “overweight” rating and set a $250.00 target price on shares of FirstCash in a report on Thursday, October 1st. Loop Capital raised FirstCash from a “hold” rating to a “buy” rating and set a $255.00 price target for the company in a report on Monday, August 10th. Wall Street Zen upgraded FirstCash from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Weiss Ratings lowered FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, August 21st. Finally, Zacks Research lowered FirstCash from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, FirstCash presently has an average rating of “Moderate Buy” and an average target price of $249.75.

FirstCash Price Performance

Shares of NASDAQ:FCFS opened at $211.49 on Tuesday. The firm has a market capitalization of $9.17 billion, a PE ratio of 24.14 and a beta of 0.55. The company has a quick ratio of 3.51, a current ratio of 4.89 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average price of $216.47 and a two-hundred day moving average price of $214.93. FirstCash has a twelve month low of $146.77 and a twelve month high of $238.93.

FirstCash (NASDAQ:FCFS) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.11. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. FirstCash had a net margin of 9.42% and a return on equity of 19.65%. The company’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.34 earnings per share. Equities analysts forecast that FirstCash will post 11.85 EPS for the current year.

FirstCash Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, August 14th. FirstCash’s dividend payout ratio is 19.18%.

Insider Activity

In other FirstCash news, Director James Graves sold 3,750 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $221.20, for a total value of $829,500.00. Following the completion of the transaction, the director directly owned 11,929 shares of the company’s stock, valued at $2,638,694.80. This trade represents a 23.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Thomas Stuart sold 5,348 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $214.63, for a total transaction of $1,147,841.24. Following the completion of the transaction, the chief operating officer directly owned 135,498 shares of the company’s stock, valued at approximately $29,081,935.74. The trade was a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 14,098 shares of company stock valued at $3,051,281. 2.86% of the stock is owned by company insiders.

Institutional Investors Weigh In On FirstCash

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of FirstCash during the second quarter worth about $1,088,429,000. Bank of America Corp DE purchased a new stake in FirstCash in the second quarter valued at approximately $248,059,000. Bank of New York Mellon Corp purchased a new stake in FirstCash in the second quarter valued at approximately $69,779,000. Atlas FRM LLC purchased a new stake in FirstCash in the second quarter valued at approximately $58,406,400. Finally, Azora Capital LP bought a new stake in FirstCash during the second quarter valued at approximately $45,580,000. Institutional investors own 80.30% of the company’s stock.

FirstCash Company Profile

FirstCash Holdings, Inc operates pawn stores and related consumer financial services businesses in the United States and Latin America. Its pawn stores provide collateral-based loans to consumers, while also buying and selling secondhand merchandise such as jewelry, electronics, tools, sporting goods and other personal property.

The company serves customers through pawn locations in the United States and Mexico, as well as selected markets in Central and South America. Its operations are designed to provide short-term, non-recourse credit secured by personal property, along with retail opportunities for value-conscious consumers.