Upbound Group (NASDAQ:UPBD) Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of Upbound Group (NASDAQ:UPBD) from a hold rating to a strong sell rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other research analysts have also recently commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Upbound Group in a research report on Monday, December 29th. BTIG Research cut their price objective on Upbound Group from $40.00 to $28.00 and set a “buy” rating for the company in a report on Friday, October 31st. Wall Street Zen downgraded shares of Upbound Group from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Upbound Group in a research report on Thursday, January 8th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.25.

Upbound Group Trading Up 2.4%

Shares of NASDAQ:UPBD opened at $20.31 on Thursday. The company’s 50-day moving average price is $18.87 and its two-hundred day moving average price is $20.92. The company has a debt-to-equity ratio of 2.25, a current ratio of 3.16 and a quick ratio of 0.98. Upbound Group has a one year low of $15.82 and a one year high of $30.20. The stock has a market capitalization of $1.18 billion, a PE ratio of 14.01 and a beta of 1.88.

Upbound Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Wednesday, December 17th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend was Wednesday, December 17th. Upbound Group’s dividend payout ratio is currently 107.59%.

Insider Transactions at Upbound Group

In related news, Director Jeffrey J. Brown acquired 2,502 shares of the business’s stock in a transaction on Tuesday, January 6th. The stock was purchased at an average cost of $17.68 per share, for a total transaction of $44,235.36. Following the completion of the transaction, the director directly owned 92,972 shares of the company’s stock, valued at approximately $1,643,744.96. The trade was a 2.77% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is owned by company insiders.

Institutional Trading of Upbound Group

Hedge funds have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co boosted its stake in Upbound Group by 4.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 53,807 shares of the company’s stock valued at $945,000 after purchasing an additional 2,372 shares during the period. Inspire Advisors LLC boosted its position in shares of Upbound Group by 20.3% in the fourth quarter. Inspire Advisors LLC now owns 133,069 shares of the company’s stock valued at $2,337,000 after acquiring an additional 22,449 shares during the period. Bragg Financial Advisors Inc boosted its position in shares of Upbound Group by 12.1% in the fourth quarter. Bragg Financial Advisors Inc now owns 1,105,047 shares of the company’s stock valued at $19,405,000 after acquiring an additional 119,158 shares during the period. Rafferty Asset Management LLC grew its stake in shares of Upbound Group by 40.9% in the fourth quarter. Rafferty Asset Management LLC now owns 19,203 shares of the company’s stock valued at $337,000 after acquiring an additional 5,577 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Upbound Group by 20.1% during the fourth quarter. First Trust Advisors LP now owns 124,928 shares of the company’s stock worth $2,194,000 after acquiring an additional 20,918 shares during the period. 90.30% of the stock is owned by institutional investors and hedge funds.

Upbound Group Company Profile

Upbound Group, Inc leases household durable goods to customers on a lease-to-own basis in the United States, Puerto Rico, and Mexico. It operates through four segments: Rent-A-Center, Acima, Mexico, and Franchising. The company's brands, such as Rent-A-Center and Acima that facilitate consumer transactions across a range of store-based and virtual channels. It offers furniture comprising mattresses, tires, consumer electronics, appliances, tools, handbags, computers, smartphones, and accessories.