Wall Street Zen Downgrades FirstCash (NASDAQ:FCFS) to Buy

FirstCash (NASDAQ:FCFS) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Sunday.

Other equities research analysts also recently issued reports about the company. Weiss Ratings reiterated a “buy (b)” rating on shares of FirstCash in a report on Monday, December 29th. TD Cowen reiterated a “buy” rating on shares of FirstCash in a research report on Friday, October 31st. Canaccord Genuity Group set a $217.00 target price on shares of FirstCash in a research note on Friday, February 6th. Finally, Zacks Research lowered shares of FirstCash from a “strong-buy” rating to a “hold” rating in a report on Friday, January 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, FirstCash presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.40.

FirstCash Stock Performance

Shares of FCFS opened at $181.89 on Friday. The company has a market cap of $8.00 billion, a PE ratio of 24.51 and a beta of 0.49. FirstCash has a one year low of $109.51 and a one year high of $188.75. The company has a debt-to-equity ratio of 0.97, a current ratio of 4.55 and a quick ratio of 3.36. The firm has a 50-day moving average of $167.19 and a 200-day moving average of $156.23.

FirstCash (NASDAQ:FCFS) last announced its earnings results on Thursday, February 5th. The company reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.10. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.01 billion. FirstCash had a net margin of 9.02% and a return on equity of 17.99%. FirstCash’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.12 earnings per share. As a group, equities analysts forecast that FirstCash will post 7.7 earnings per share for the current year.

FirstCash declared that its board has authorized a share buyback plan on Thursday, October 30th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at FirstCash

In other news, insider Howard F. Hambleton sold 2,000 shares of the stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $177.65, for a total value of $355,300.00. Following the completion of the sale, the insider owned 39,406 shares in the company, valued at $7,000,475.90. This represents a 4.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Randel G. Owen sold 1,500 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $152.20, for a total transaction of $228,300.00. Following the transaction, the director owned 7,651 shares in the company, valued at approximately $1,164,482.20. This trade represents a 16.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 50,500 shares of company stock valued at $8,150,640 in the last three months. Insiders own 2.93% of the company’s stock.

Hedge Funds Weigh In On FirstCash

Several institutional investors have recently modified their holdings of FCFS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in FirstCash by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,946 shares of the company’s stock worth $2,761,000 after purchasing an additional 1,021 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in FirstCash by 9.7% in the first quarter. Goldman Sachs Group Inc. now owns 389,509 shares of the company’s stock valued at $46,866,000 after acquiring an additional 34,364 shares during the last quarter. Jane Street Group LLC grew its position in shares of FirstCash by 237.2% during the 1st quarter. Jane Street Group LLC now owns 62,057 shares of the company’s stock valued at $7,467,000 after acquiring an additional 43,653 shares during the period. Blair William & Co. IL purchased a new position in FirstCash in the second quarter valued at approximately $248,000. Finally, IFP Advisors Inc grew its holdings in FirstCash by 181.6% during the second quarter. IFP Advisors Inc now owns 290 shares of the company’s stock valued at $39,000 after purchasing an additional 187 shares during the period. 80.30% of the stock is 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.