FirstCash (NASDAQ:FCFS) Sets New 12-Month High – Here’s What Happened

FirstCash Holdings, Inc. (NASDAQ:FCFS) reached a new 52-week high during trading on Tuesday . The company traded as high as $172.66 and last traded at $171.31, with a volume of 21687 shares. The stock had previously closed at $171.10.

Analysts Set New Price Targets

FCFS has been the topic of a number of research reports. Cowen reiterated a “buy” rating on shares of FirstCash in a report on Friday, October 31st. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $205.00 target price on shares of FirstCash in a report on Monday, December 8th. Zacks Research downgraded FirstCash from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 2nd. TD Cowen raised their price target on FirstCash from $181.00 to $188.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of FirstCash in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $167.00.

FirstCash Stock Down 0.3%

The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.72 and a current ratio of 4.99. The company has a market cap of $7.52 billion, a PE ratio of 24.57 and a beta of 0.52. The company has a fifty day moving average of $160.78 and a two-hundred day moving average of $150.56.

FirstCash (NASDAQ:FCFS) last released its earnings results on Thursday, October 30th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.35. The firm had revenue of $904.27 million during the quarter, compared to analyst estimates of $845.28 million. FirstCash had a net margin of 8.88% and a return on equity of 17.44%. The business’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business earned $1.67 EPS. As a group, analysts anticipate that FirstCash Holdings, Inc. will post 7.7 earnings per share for the current fiscal year.

FirstCash Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.0%. FirstCash’s dividend payout ratio is currently 24.24%.

FirstCash announced that its board has authorized a share repurchase program on Thursday, October 30th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other FirstCash news, insider Howard F. Hambleton sold 4,000 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $163.74, for a total transaction of $654,960.00. Following the transaction, the insider directly owned 26,581 shares in the company, valued at $4,352,372.94. This represents a 13.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas Brent Stuart sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $159.97, for a total transaction of $1,599,700.00. Following the completion of the sale, the chief operating officer directly owned 127,724 shares of the company’s stock, valued at $20,432,008.28. The trade was a 7.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 41,000 shares of company stock valued at $6,481,395. Insiders own 14.77% of the company’s stock.

Hedge Funds Weigh In On FirstCash

Large investors have recently bought and sold shares of the business. Root Financial Partners LLC bought a new stake in FirstCash during the 3rd quarter valued at $25,000. Rothschild Investment LLC increased its position in FirstCash by 127.8% during the 3rd quarter. Rothschild Investment LLC now owns 180 shares of the company’s stock valued at $29,000 after buying an additional 101 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of FirstCash during the 2nd quarter worth approximately $25,000. Community Bank N.A. purchased a new position in FirstCash in the 3rd quarter valued at about $32,000. Finally, Smartleaf Asset Management LLC raised its position in shares of FirstCash by 70.5% in the third quarter. Smartleaf Asset Management LLC now owns 220 shares of the company’s stock valued at $34,000 after buying an additional 91 shares during the last quarter. Institutional investors own 80.30% of the company’s stock.

About FirstCash

FirstCash, Inc (NASDAQ: FCFS) is a leading integrated operator of pawn stores and provider of short-term consumer loan services in the United States and Mexico. Through its retail pawn outlets, FirstCash offers collateral-based loans secured by personal property, enabling customers to access liquidity without a credit history or traditional bank account. The company also purchases, trades and sells a broad range of secondhand merchandise, including electronics, jewelry and power tools, through its network of conveniently located stores.

In addition to its pawn-broking activities, FirstCash provides unsecured consumer loans designed to meet urgent cash needs.