Stephens Reiterates “$21.00” Price Target for PROG (NYSE:PRG)

Stephens set a $21.00 price objective on PROG (NYSE:PRGGet Rating) in a report released on Monday morning, Stock Target Advisor reports.

Other equities research analysts have also issued reports about the stock. Raymond James lowered shares of PROG from an outperform rating to a market perform rating in a report on Friday, June 17th. KeyCorp lowered their target price on PROG from $50.00 to $40.00 and set an overweight rating for the company in a research report on Friday, June 17th.

NYSE:PRG opened at $16.37 on Monday. The firm’s 50-day moving average price is $26.10 and its 200-day moving average price is $32.95. The company has a market capitalization of $884.68 million, a PE ratio of 5.53, a P/E/G ratio of 0.79 and a beta of 1.87. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.35 and a quick ratio of 1.37. PROG has a 1-year low of $15.62 and a 1-year high of $50.79.

PROG (NYSE:PRGGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.17). PROG had a return on equity of 24.37% and a net margin of 7.17%. The firm had revenue of $710.46 million during the quarter, compared to the consensus estimate of $719.20 million. During the same quarter in the previous year, the firm earned $1.22 EPS. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities analysts anticipate that PROG will post 2.51 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of PRG. Life Planning Partners Inc purchased a new position in shares of PROG during the 4th quarter valued at about $31,000. Point72 Hong Kong Ltd acquired a new stake in PROG in the 3rd quarter worth about $39,000. Quadrant Capital Group LLC boosted its holdings in PROG by 298.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,255 shares of the company’s stock worth $57,000 after buying an additional 940 shares during the last quarter. JJJ Advisors Inc. boosted its holdings in shares of PROG by 35.2% during the 4th quarter. JJJ Advisors Inc. now owns 1,499 shares of the company’s stock worth $68,000 after purchasing an additional 390 shares during the last quarter. Finally, Okabena Investment Services Inc. acquired a new position in shares of PROG during the 4th quarter worth approximately $114,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

PROG Company Profile (Get Rating)

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.

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