Franchise Group, Inc. (NASDAQ:FRG) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 703,400 shares, an increase of 20.4% from the March 31st total of 584,000 shares. Based on an average trading volume of 0 shares, the days-to-cover ratio is presently ∞ days.
Shares of NASDAQ FRG traded down $0.88 during mid-day trading on Tuesday, reaching $38.87. The company had a trading volume of 7,944 shares, compared to its average volume of 157,077. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.53 and a current ratio of 1.13. The company has a 50-day moving average price of $37.17 and a two-hundred day moving average price of $32.63. Franchise Group has a 1-year low of $12.35 and a 1-year high of $41.50.
Franchise Group (NASDAQ:FRG) last issued its earnings results on Tuesday, March 9th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.24. The business had revenue of $496.32 million for the quarter, compared to analysts’ expectations of $498.13 million. Franchise Group had a return on equity of 12.37% and a net margin of 0.94%. As a group, sell-side analysts forecast that Franchise Group will post 2.7 earnings per share for the current fiscal year.
Several analysts recently commented on the company. Barrington Research raised their target price on Franchise Group from $40.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, March 11th. They noted that the move was a valuation call. B. Riley raised their target price on Franchise Group from $38.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, March 11th. DA Davidson raised their target price on Franchise Group from $40.00 to $49.00 and gave the company a “buy” rating in a research report on Thursday, March 11th. Oppenheimer started coverage on Franchise Group in a research report on Tuesday, April 27th. They set an “outperform” rating and a $50.00 price target on the stock. Finally, Zacks Investment Research upgraded Franchise Group from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Tuesday, March 16th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $44.43.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. grew its holdings in shares of Franchise Group by 64.3% in the 1st quarter. Victory Capital Management Inc. now owns 72,444 shares of the company’s stock worth $2,616,000 after acquiring an additional 28,364 shares during the last quarter. Cowen Prime Services LLC grew its holdings in shares of Franchise Group by 3.6% during the first quarter. Cowen Prime Services LLC now owns 268,000 shares of the company’s stock valued at $9,677,000 after buying an additional 9,370 shares in the last quarter. Strs Ohio purchased a new position in shares of Franchise Group during the first quarter valued at $191,000. Hodges Capital Management Inc. purchased a new stake in Franchise Group in the 1st quarter worth about $374,000. Finally, UBS Asset Management Americas Inc. acquired a new stake in Franchise Group during the 4th quarter worth about $417,000. Institutional investors and hedge funds own 43.32% of the company’s stock.
About Franchise Group
Franchise Group, Inc operates as a retailer, franchisor operator, and acquirer of franchised and franchisable businesses. It operates through 4 segments: Liberty Tax, Buddy's, Sears Outlet, and Vitamin Shoppe. The company provides tax preparation services in the United States and Canada; and franchises and operates rent-to-own stores that lease durable goods, such as electronics, residential furniture, appliances, and household accessories to customers.
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