PROG Holdings, Inc. (NYSE:PRG) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of PROG Holdings, Inc. (NYSE:PRG) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $52.60.

Several research analysts have recently commented on PRG shares. Jefferies Financial Group lifted their target price on PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. TD Cowen boosted their target price on shares of PROG from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. KeyCorp increased their target price on shares of PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Loop Capital raised shares of PROG from a “hold” rating to a “buy” rating and lifted their price target for the company from $41.00 to $55.00 in a report on Monday, August 19th. Finally, Raymond James upgraded shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price objective on the stock in a research note on Thursday, October 24th.

Institutional Trading of PROG

Hedge funds have recently bought and sold shares of the company. D. E. Shaw & Co. Inc. grew its position in PROG by 0.8% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 896,075 shares of the company’s stock worth $31,076,000 after purchasing an additional 6,803 shares during the last quarter. American Century Companies Inc. grew its holdings in PROG by 14.1% in the 2nd quarter. American Century Companies Inc. now owns 684,705 shares of the company’s stock worth $23,746,000 after buying an additional 84,497 shares in the last quarter. Clearbridge Investments LLC increased its position in PROG by 2.3% in the 1st quarter. Clearbridge Investments LLC now owns 440,814 shares of the company’s stock valued at $15,182,000 after acquiring an additional 9,807 shares during the period. Assenagon Asset Management S.A. bought a new stake in PROG during the 3rd quarter valued at $19,079,000. Finally, Ceredex Value Advisors LLC boosted its position in PROG by 1.3% during the 2nd quarter. Ceredex Value Advisors LLC now owns 291,550 shares of the company’s stock worth $10,111,000 after acquiring an additional 3,750 shares during the period. 97.92% of the stock is currently owned by institutional investors.

PROG Price Performance

Shares of PRG stock opened at $44.03 on Monday. The firm has a fifty day moving average of $46.72 and a two-hundred day moving average of $40.34. The firm has a market cap of $1.83 billion, a P/E ratio of 12.20 and a beta of 2.11. PROG has a 1-year low of $26.39 and a 1-year high of $50.28. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.97 and a quick ratio of 2.34.

PROG (NYSE:PRG) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.76 by $0.01. The business had revenue of $606.10 million for the quarter, compared to analysts’ expectations of $601.86 million. PROG had a net margin of 6.55% and a return on equity of 24.56%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 earnings per share. As a group, research analysts anticipate that PROG will post 3.35 earnings per share for the current fiscal year.

PROG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.48 annualized dividend and a dividend yield of 1.09%. PROG’s dividend payout ratio is currently 13.30%.

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.