Rent-A-Center (NASDAQ:RCII) Upgraded to Strong-Buy by BidaskClub

Rent-A-Center (NASDAQ:RCII) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday, BidAskClub reports.

Several other brokerages have also recently issued reports on RCII. ValuEngine cut Rent-A-Center from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus set a $28.00 price objective on Rent-A-Center and gave the stock a “hold” rating in a research note on Friday, September 6th. Finally, Janney Montgomery Scott raised Rent-A-Center from a “neutral” rating to a “buy” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $24.40.

Shares of NASDAQ RCII traded down $1.34 during midday trading on Thursday, hitting $26.23. The company’s stock had a trading volume of 13,881 shares, compared to its average volume of 648,495. The company has a current ratio of 2.97, a quick ratio of 1.17 and a debt-to-equity ratio of 2.07. The business’s 50 day moving average is $25.90 and its two-hundred day moving average is $25.20. Rent-A-Center has a 12-month low of $11.98 and a 12-month high of $28.25. The firm has a market cap of $1.45 billion, a P/E ratio of 24.68 and a beta of 0.42.

Rent-A-Center (NASDAQ:RCII) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04. Rent-A-Center had a return on equity of 32.63% and a net margin of 4.40%. The company had revenue of $655.90 million for the quarter, compared to analysts’ expectations of $642.86 million. During the same quarter in the prior year, the firm earned $0.47 earnings per share. Rent-A-Center’s revenue was up .0% compared to the same quarter last year. On average, analysts predict that Rent-A-Center will post 2.27 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its position in Rent-A-Center by 126.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,689 shares of the company’s stock valued at $45,000 after acquiring an additional 942 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Rent-A-Center by 74.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 2,275 shares of the company’s stock worth $60,000 after purchasing an additional 972 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of Rent-A-Center in the 2nd quarter worth $111,000. First Quadrant L P CA boosted its position in shares of Rent-A-Center by 17.6% in the 2nd quarter. First Quadrant L P CA now owns 5,111 shares of the company’s stock worth $136,000 after purchasing an additional 765 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Rent-A-Center during the 2nd quarter worth $136,000. 95.67% of the stock is currently owned by institutional investors and hedge funds.

About Rent-A-Center

Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a rent-to-own basis. The company operates through four segments: Core U.S., Acceptance Now, Mexico, and Franchising. It offers durable products, such as consumer electronics; appliances; computers, including tablets; smartphones; wheels and tires; and furniture, including accessories under rental purchase agreements.

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