PROG (NYSE:PRG) PT Set at $21.00 by Stephens

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

A number of other brokerages have also issued reports on PRG. Raymond James lowered PROG from an outperform rating to a market perform rating in a research note on Friday, June 17th. KeyCorp reduced their target price on PROG from $50.00 to $40.00 and set an overweight rating for the company in a research note on Friday, June 17th.

Shares of PRG stock opened at $17.13 on Monday. The firm has a market capitalization of $925.76 million, a price-to-earnings ratio of 5.79, a price-to-earnings-growth ratio of 0.76 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. The business has a fifty day moving average of $25.91 and a 200 day moving average of $32.77. PROG has a 1 year low of $15.62 and a 1 year high of $50.79.

PROG (NYSE:PRGGet Rating) last issued its 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). The firm had revenue of $710.46 million during the quarter, compared to analysts’ expectations of $719.20 million. PROG had a return on equity of 24.37% and a net margin of 7.17%. The business’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business earned $1.22 EPS. As a group, equities research analysts expect that PROG will post 2.51 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of PROG by 38.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,941 shares of the company’s stock valued at $403,000 after buying an additional 2,470 shares during the last quarter. Marshall Wace LLP raised its stake in shares of PROG by 313.1% during the 4th quarter. Marshall Wace LLP now owns 350,096 shares of the company’s stock valued at $15,793,000 after buying an additional 265,342 shares during the last quarter. Vulcan Value Partners LLC raised its stake in shares of PROG by 34.6% during the 4th quarter. Vulcan Value Partners LLC now owns 2,063,667 shares of the company’s stock valued at $93,092,000 after buying an additional 530,587 shares during the last quarter. Comerica Bank raised its stake in shares of PROG by 4.5% during the 3rd quarter. Comerica Bank now owns 323,695 shares of the company’s stock valued at $15,197,000 after buying an additional 14,086 shares during the last quarter. Finally, Okabena Investment Services Inc. purchased a new position in shares of PROG during the 4th quarter valued at about $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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