FirstCash (NASDAQ:FCFS) Stock Price Expected to Rise, TD Cowen Analyst Says

FirstCash (NASDAQ:FCFS) had its price objective upped by TD Cowen from $240.00 to $242.00 in a research note issued on Tuesday, Marketbeat reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective points to a potential upside of 15.48% from the company’s current price.

Several other brokerages have also issued reports on FCFS. Zacks Research lowered FirstCash from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Wall Street Zen raised shares of FirstCash from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Loop Capital upgraded shares of FirstCash from a “hold” rating to a “buy” rating and set a $255.00 price objective for the company in a research note on Monday, August 10th. Stephens reiterated an “overweight” rating and set a $250.00 target price on shares of FirstCash in a research report on Thursday, October 1st. Finally, Weiss Ratings lowered shares of FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, August 21st. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.75.

FirstCash Price Performance

FCFS stock opened at $209.56 on Tuesday. The company has a quick ratio of 3.51, a current ratio of 4.89 and a debt-to-equity ratio of 1.01. The firm has a market cap of $9.09 billion, a price-to-earnings ratio of 23.92 and a beta of 0.55. The company’s fifty day simple moving average is $216.27 and its 200 day simple moving average is $214.79. FirstCash has a 12-month low of $146.77 and a 12-month high of $238.93.

FirstCash (NASDAQ:FCFS) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.11. FirstCash had a return on equity of 19.65% and a net margin of 9.42%.The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company posted $1.34 EPS. The business’s quarterly revenue was up 29.4% on a year-over-year basis. On average, analysts expect that FirstCash will post 11.85 earnings per share for the current year.

Insider Buying and Selling at FirstCash

In other news, CFO R. Orr sold 2,000 shares of FirstCash stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $216.00, for a total transaction of $432,000.00. Following the completion of the transaction, the chief financial officer directly owned 34,734 shares in the company, valued at $7,502,544. This trade represents a 5.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Thomas Stuart sold 5,348 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $214.63, for a total transaction of $1,147,841.24. Following the sale, the chief operating officer directly owned 135,498 shares of the company’s stock, valued at approximately $29,081,935.74. The trade was a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 14,098 shares of company stock worth $3,051,281. Company insiders own 2.86% of the company’s stock.

Hedge Funds Weigh In On FirstCash

Several large investors have recently added to or reduced their stakes in FCFS. BlackRock Inc. bought a new stake in FirstCash during the 2nd quarter worth approximately $1,088,429,000. Bank of America Corp DE purchased a new stake in FirstCash in the 2nd quarter valued at about $248,059,000. Sei Investments Co. lifted its position in shares of FirstCash by 2.2% during the 1st quarter. Sei Investments Co. now owns 794,005 shares of the company’s stock worth $149,273,000 after buying an additional 17,177 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of FirstCash by 9.3% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 474,977 shares of the company’s stock worth $89,296,000 after buying an additional 40,535 shares during the last quarter. Finally, Capital Research Global Investors grew its holdings in shares of FirstCash by 33.5% in the fourth quarter. Capital Research Global Investors now owns 536,961 shares of the company’s stock valued at $85,581,000 after acquiring an additional 134,849 shares in the last quarter. Institutional investors own 80.30% of the company’s stock.

FirstCash Company Profile

FirstCash Holdings, Inc operates pawn stores and related consumer financial services businesses in the United States and Latin America. Its pawn stores provide collateral-based loans to consumers, while also buying and selling secondhand merchandise such as jewelry, electronics, tools, sporting goods and other personal property.

The company serves customers through pawn locations in the United States and Mexico, as well as selected markets in Central and South America. Its operations are designed to provide short-term, non-recourse credit secured by personal property, along with retail opportunities for value-conscious consumers.