Brokerages Set Rent-A-Center Inc (NASDAQ:RCII) Price Target at $21.80

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Rent-A-Center Inc (NASDAQ:RCII) has been assigned a consensus rating of “Buy” from the eight research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $21.80.

A number of equities research analysts have recently issued reports on RCII shares. BidaskClub raised Zillow Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 2nd. TheStreet upgraded Rent-A-Center from a “c” rating to a “b-” rating in a research note on Tuesday, May 7th. ValuEngine downgraded WideOpenWest from a “hold” rating to a “sell” rating in a research note on Friday, June 28th. Raymond James reiterated a “buy” rating on shares of West Fraser Timber in a research note on Monday, April 22nd. Finally, Stephens set a $120.00 target price on Electronic Arts and gave the company a “buy” rating in a research note on Monday, June 24th.

Shares of NASDAQ:RCII traded down $0.11 during mid-day trading on Friday, hitting $26.36. 1,493,757 shares of the company traded hands, compared to its average volume of 1,347,201. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 24.75 and a beta of 0.48. The company has a debt-to-equity ratio of 2.80, a quick ratio of 0.82 and a current ratio of 2.55. Rent-A-Center has a 52-week low of $11.98 and a 52-week high of $28.25. The stock’s 50 day moving average price is $25.75.

Rent-A-Center (NASDAQ:RCII) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.29. Rent-A-Center had a return on equity of 33.38% and a net margin of 1.34%. The business had revenue of $696.69 million during the quarter, compared to the consensus estimate of $683.62 million. During the same period in the previous year, the business earned ($0.08) EPS. The business’s quarterly revenue was down .2% on a year-over-year basis. On average, equities analysts expect that Rent-A-Center will post 2.12 earnings per share for the current fiscal year.

In other Rent-A-Center news, EVP Catherine M. Skula sold 5,000 shares of Rent-A-Center stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $24.45, for a total value of $122,250.00. Following the sale, the executive vice president now owns 32,090 shares of the company’s stock, valued at approximately $784,600.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.81% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its stake in shares of Rent-A-Center by 2,935.8% in the fourth quarter. Millennium Management LLC now owns 1,385,377 shares of the company’s stock valued at $22,429,000 after buying an additional 1,339,742 shares during the period. Engaged Capital LLC raised its position in Rent-A-Center by 17.6% during the fourth quarter. Engaged Capital LLC now owns 5,333,609 shares of the company’s stock valued at $86,351,000 after purchasing an additional 800,000 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in Rent-A-Center by 191.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 876,742 shares of the company’s stock valued at $14,194,000 after purchasing an additional 575,452 shares in the last quarter. Norges Bank acquired a new position in Rent-A-Center during the fourth quarter valued at approximately $7,507,000. Finally, P Schoenfeld Asset Management LP acquired a new position in Rent-A-Center during the fourth quarter valued at approximately $5,454,000. 95.22% of the stock is currently owned by hedge funds and other institutional investors.

About Rent-A-Center

Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a rent-to-own basis. The company operates through four segments: Core U.S., Acceptance Now, Mexico, and Franchising. It offers durable products, such as consumer electronics; appliances; computers, including tablets; smartphones; wheels and tires; and furniture, including accessories under rental purchase agreements.

Further Reading: How does equity income fit into an investing strategy?

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