FirstCash Inc (FCFS) Upgraded to Buy by Zacks Investment Research
FirstCash Inc (NASDAQ:FCFS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $67.00 price target on the credit services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 11.02% from the stock’s current price.
According to Zacks, “FirstCash Inc. is an operator of pawn stores. The company focuses on serving cash and credit constrained consumers through its retail pawn locations, which buy and sell jewelry, consumer electronics, power tools, household appliances, sporting goods, musical instruments and other merchandise. It operates primarily in the U.S., Mexico, Guatemala and El Salvador. FirstCash, Inc., formerly known as First Cash Financial Services Inc., is based in Arlington, United States. “
FCFS has been the topic of several other reports. JMP Securities increased their price target on shares of FirstCash and gave the company an “outperform” rating in a research report on Friday, July 28th. Stephens increased their price target on shares of FirstCash from $51.00 to $62.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 21st. BidaskClub lowered shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. CL King lowered shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Finally, Wedbush increased their price target on shares of FirstCash from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, May 24th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $58.14.
Shares of FirstCash (NASDAQ FCFS) traded up 0.50% on Wednesday, hitting $60.35. The stock had a trading volume of 238,139 shares. The company’s 50 day moving average is $58.38 and its 200 day moving average is $51.49. FirstCash has a one year low of $39.80 and a one year high of $60.75. The stock has a market cap of $2.88 billion, a PE ratio of 32.67 and a beta of 0.90.
FirstCash (NASDAQ:FCFS) last released its quarterly earnings results on Thursday, July 27th. The credit services provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.47 by $0.05. The business had revenue of $416.60 million for the quarter, compared to analyst estimates of $410.65 million. FirstCash had a net margin of 7.29% and a return on equity of 8.92%. The company’s quarterly revenue was up 128.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 earnings per share. Equities research analysts predict that FirstCash will post $2.66 EPS for the current fiscal year.
FirstCash announced that its Board of Directors has initiated a share buyback program on Monday, May 15th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the credit services provider to reacquire up to 4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In related news, CFO R Douglas Orr sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $55.00, for a total transaction of $412,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
A number of hedge funds have recently made changes to their positions in FCFS. Tyers Asset Management LLC raised its stake in shares of FirstCash by 14.9% in the first quarter. Tyers Asset Management LLC now owns 2,380 shares of the credit services provider’s stock worth $117,000 after buying an additional 308 shares during the period. Flinton Capital Management LLC raised its stake in shares of FirstCash by 14.9% in the first quarter. Flinton Capital Management LLC now owns 2,890 shares of the credit services provider’s stock worth $142,000 after buying an additional 374 shares during the period. Newfoundland Capital Management purchased a new stake in shares of FirstCash during the first quarter worth about $201,000. Ameritas Investment Partners Inc. purchased a new stake in shares of FirstCash during the first quarter worth about $202,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of FirstCash during the first quarter worth about $202,000.
FirstCash, Inc, formerly First Cash Financial Services, Inc, is an operator of retail-based pawn stores in the United States and Latin America. The Company’s primary business is the operation of full-service pawn stores, which make small pawn loans secured by personal property, such as consumer electronics, jewelry, power tools, household appliances, sporting goods and musical instruments.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for FirstCash Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstCash Inc and related companies with MarketBeat.com's FREE daily email newsletter.