KeyCorp Boosts PROG (NYSE:PRG) Price Target to $55.00

PROG (NYSE:PRG) had its price target upped by stock analysts at KeyCorp from $46.00 to $55.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target suggests a potential upside of 20.06% from the stock’s current price.

A number of other research firms have also recently issued reports on PRG. Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and raised their target price for the company from $41.00 to $55.00 in a research note on Monday, August 19th. TD Cowen boosted their price objective on PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, BTIG Research initiated coverage on PROG in a research report on Friday, June 7th. They set a “neutral” rating for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.20.

PROG Stock Up 1.8 %

Shares of NYSE:PRG opened at $45.81 on Tuesday. The company has a current ratio of 3.87, a quick ratio of 1.80 and a debt-to-equity ratio of 1.02. PROG has a 12-month low of $26.39 and a 12-month high of $47.85. The company has a fifty day simple moving average of $40.87 and a 200 day simple moving average of $36.38. The firm has a market cap of $1.94 billion, a PE ratio of 18.70 and a beta of 2.11.

PROG (NYSE:PRG) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.22. PROG had a net margin of 4.57% and a return on equity of 26.30%. The company had revenue of $592.16 million for the quarter, compared to the consensus estimate of $573.23 million. During the same period last year, the firm posted $0.92 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. On average, equities research analysts anticipate that PROG will post 3.34 EPS for the current fiscal year.

Institutional Trading of PROG

Several institutional investors have recently modified their holdings of the company. Algert Global LLC raised its position in PROG by 136.0% in the second quarter. Algert Global LLC now owns 63,051 shares of the company’s stock worth $2,187,000 after acquiring an additional 36,336 shares in the last quarter. Millennium Management LLC raised its holdings in shares of PROG by 497.6% in the 2nd quarter. Millennium Management LLC now owns 160,896 shares of the company’s stock worth $5,580,000 after purchasing an additional 133,972 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake in PROG by 0.8% during the second quarter. D. E. Shaw & Co. Inc. now owns 896,075 shares of the company’s stock valued at $31,076,000 after purchasing an additional 6,803 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in PROG during the second quarter worth approximately $88,000. Finally, Cubist Systematic Strategies LLC acquired a new position in PROG in the second quarter worth approximately $123,000. Institutional investors and hedge funds own 97.92% of the company’s stock.

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.