Rent-A-Center (NASDAQ:RCII) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Rent-A-Center (NASDAQ:RCIIGet Rating) from a buy rating to a hold rating in a report issued on Tuesday.

Separately, Stephens lowered Rent-A-Center from an overweight rating to an equal weight rating and set a $42.00 target price on the stock. in a research report on Wednesday, June 29th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $52.00.

Rent-A-Center Stock Down 1.3 %

RCII opened at $28.44 on Tuesday. Rent-A-Center has a one year low of $18.88 and a one year high of $67.76. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.73 and a current ratio of 3.25. The stock’s fifty day moving average is $22.97 and its 200-day moving average is $27.75. The company has a market capitalization of $1.68 billion, a PE ratio of 40.06 and a beta of 1.67.

Rent-A-Center (NASDAQ:RCIIGet Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.13. Rent-A-Center had a return on equity of 45.58% and a net margin of 1.02%. During the same period in the prior year, the firm posted $1.63 EPS. On average, equities analysts predict that Rent-A-Center will post 4.47 EPS for the current fiscal year.

Rent-A-Center Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 12th. Investors of record on Tuesday, June 21st were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend was Friday, June 17th. Rent-A-Center’s payout ratio is 191.55%.

Insider Activity at Rent-A-Center

In other Rent-A-Center news, Director Jeffrey J. Brown purchased 1,223 shares of the company’s stock in a transaction that occurred on Tuesday, July 12th. The shares were purchased at an average cost of $20.69 per share, with a total value of $25,303.87. Following the completion of the transaction, the director now owns 75,669 shares of the company’s stock, valued at $1,565,591.61. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp grew its stake in Rent-A-Center by 8.8% in the first quarter. State Street Corp now owns 2,333,336 shares of the company’s stock valued at $58,777,000 after purchasing an additional 189,510 shares in the last quarter. Ieq Capital LLC grew its stake in Rent-A-Center by 1.9% in the second quarter. Ieq Capital LLC now owns 2,056,333 shares of the company’s stock valued at $39,995,000 after purchasing an additional 39,330 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Rent-A-Center by 3.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,976,736 shares of the company’s stock worth $94,962,000 after acquiring an additional 59,905 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Rent-A-Center by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,216,493 shares of the company’s stock worth $58,443,000 after acquiring an additional 11,141 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Rent-A-Center by 1.6% during the 1st quarter. Bank of New York Mellon Corp now owns 898,624 shares of the company’s stock worth $22,637,000 after acquiring an additional 14,110 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

About Rent-A-Center

(Get Rating)

Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a lease-to-own basis. The company operates in four segments: Rent-A-Center Business, Acima, Mexico, and Franchising. It offers furniture and accessories, appliances, consumer electronics, computers, tablets and smartphones, tools, tires, handbags, and other accessories under rental purchase agreements.

See Also

Analyst Recommendations for Rent-A-Center (NASDAQ:RCII)

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