PROG (NYSE:PRG) PT Raised to $35.00

PROG (NYSE:PRG) had its price target hoisted by research analysts at Loop Capital from $31.00 to $35.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Loop Capital’s price objective would suggest a potential upside of 3.02% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Stephens upgraded PROG from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 2nd. TD Cowen boosted their target price on PROG from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.60.

PROG Trading Down 2.7 %

Shares of NYSE PRG opened at $33.98 on Thursday. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 13.87 and a beta of 2.08. The business has a 50 day simple moving average of $32.36 and a 200 day simple moving average of $30.72. PROG has a 52 week low of $26.39 and a 52 week high of $44.81. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.49 and a current ratio of 3.91.

PROG (NYSE:PRG) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.83 by $0.08. PROG had a return on equity of 26.67% and a net margin of 4.71%. The business had revenue of $641.87 million during the quarter, compared to analysts’ expectations of $632.24 million. On average, research analysts predict that PROG will post 2.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Assenagon Asset Management S.A. lifted its holdings in shares of PROG by 719.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 178,859 shares of the company’s stock worth $5,529,000 after buying an additional 157,024 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of PROG by 33.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 145,706 shares of the company’s stock worth $4,839,000 after buying an additional 36,776 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of PROG by 161.0% during the third quarter. Victory Capital Management Inc. now owns 107,286 shares of the company’s stock worth $3,563,000 after buying an additional 66,185 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new position in shares of PROG in the third quarter valued at $921,000. Finally, Nomura Holdings Inc. raised its stake in shares of PROG by 621.5% in the third quarter. Nomura Holdings Inc. now owns 144,294 shares of the company’s stock valued at $4,792,000 after purchasing an additional 124,294 shares in the last quarter. 97.92% of the stock is currently owned by institutional investors and hedge funds.

About PROG

PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.