PROG (NYSE:PRG) PT Raised to $40.00 at TD Cowen

PROG (NYSE:PRG) had its target price increased by analysts at TD Cowen from $38.00 to $40.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price target points to a potential upside of 14.61% from the stock’s current price.

Separately, Stephens upgraded shares of PROG from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.20.

PROG Stock Down 2.1 %

Shares of NYSE:PRG traded down $0.76 during trading on Thursday, reaching $34.90. 151,306 shares of the stock traded hands, compared to its average volume of 392,423. The stock has a 50-day moving average of $32.25 and a two-hundred day moving average of $30.67. PROG has a 52-week low of $26.39 and a 52-week high of $44.81. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.49 and a current ratio of 3.66. The stock has a market cap of $1.52 billion, a P/E ratio of 11.79 and a beta of 2.08.

PROG (NYSE:PRG) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. PROG had a net margin of 5.77% and a return on equity of 28.83%. The firm had revenue of $641.87 million for the quarter, compared to analysts’ expectations of $632.24 million. As a group, sell-side analysts expect that PROG will post 2.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PRG. AE Wealth Management LLC bought a new stake in shares of PROG during the 3rd quarter valued at $443,000. SG Americas Securities LLC bought a new stake in shares of PROG during the 3rd quarter valued at $1,901,000. Counterpoint Mutual Funds LLC raised its position in shares of PROG by 19.0% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 3,572 shares of the company’s stock valued at $119,000 after purchasing an additional 570 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of PROG by 152.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 63,390 shares of the company’s stock valued at $2,105,000 after purchasing an additional 38,244 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PROG by 27.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,310 shares of the company’s stock valued at $309,000 after purchasing an additional 2,020 shares during the period. Hedge funds and other institutional investors own 97.92% of the company’s stock.

About PROG

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.