PROG Holdings, Inc. (NYSE:PRG) Given Average Rating of “Moderate Buy” by Analysts

PROG Holdings, Inc. (NYSE:PRG) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $47.20.

PRG has been the subject of several recent research reports. BTIG Research began coverage on PROG in a report on Friday, June 7th. They set a “neutral” rating for the company. TD Cowen upped their target price on shares of PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Loop Capital raised shares of PROG from a “hold” rating to a “buy” rating and raised their price target for the company from $41.00 to $55.00 in a research report on Monday, August 19th. Finally, KeyCorp upped their price objective on shares of PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th.

Institutional Trading of PROG

Several hedge funds have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its position in PROG by 218.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 66,542 shares of the company’s stock worth $2,057,000 after purchasing an additional 45,631 shares during the period. Janney Montgomery Scott LLC bought a new position in PROG in the 4th quarter worth approximately $430,000. Norges Bank purchased a new position in PROG in the 4th quarter valued at approximately $12,666,000. Dynamic Technology Lab Private Ltd bought a new stake in PROG during the 4th quarter valued at $1,056,000. Finally, Clearbridge Investments LLC lifted its position in shares of PROG by 0.6% during the fourth quarter. Clearbridge Investments LLC now owns 431,007 shares of the company’s stock worth $13,322,000 after acquiring an additional 2,552 shares in the last quarter. Institutional investors own 97.92% of the company’s stock.

PROG Stock Performance

PRG opened at $49.49 on Friday. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 20.20 and a beta of 2.11. The company’s fifty day moving average price is $43.30 and its two-hundred day moving average price is $37.31. PROG has a 1-year low of $26.39 and a 1-year high of $50.28. 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 (NYSE:PRG) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.22. The business had revenue of $592.16 million for the quarter, compared to analysts’ expectations of $573.23 million. PROG had a net margin of 4.57% and a return on equity of 26.30%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 EPS. On average, analysts expect that PROG will post 3.34 EPS for the current fiscal year.

PROG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.48 annualized dividend and a yield of 0.97%. PROG’s payout ratio is currently 19.59%.

PROG Company Profile

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.