PROG (NYSE:PRG) Price Target Increased to $35.00 by Analysts at Loop Capital

PROG (NYSE:PRG) had its target price hoisted by Loop Capital from $31.00 to $35.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other brokerages have also recently commented on PRG. Stephens raised shares of PROG from an equal weight rating to an overweight rating in a research report on Tuesday, January 2nd. TD Cowen boosted their price target on shares of PROG from $38.00 to $40.00 and gave the stock a buy rating in a research report on Thursday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $39.60.

PROG Trading Down 2.1 %

Shares of NYSE PRG opened at $34.92 on Thursday. The company’s fifty day moving average is $32.30 and its 200-day moving average is $30.70. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 14.25 and a beta of 2.08. PROG has a twelve month low of $26.39 and a twelve month high of $44.81. The company has a quick ratio of 1.49, a current ratio of 3.91 and a debt-to-equity ratio of 1.01.

PROG (NYSE:PRG) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.83 by $0.08. PROG had a net margin of 4.71% and a return on equity of 26.67%. The business had revenue of $641.87 million for the quarter, compared to analysts’ expectations of $632.24 million. Equities research analysts predict that PROG will post 2.86 EPS for the current year.

PROG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.48 annualized dividend and a yield of 1.37%. PROG’s dividend payout ratio is currently 19.59%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Blue Trust Inc. bought a new position in shares of PROG during the fourth quarter worth approximately $27,000. BluePath Capital Management LLC bought a new position in shares of PROG during the third quarter worth approximately $31,000. Acadian Asset Management LLC bought a new position in shares of PROG during the third quarter worth approximately $33,000. Skandinaviska Enskilda Banken AB publ bought a new position in shares of PROG during the third quarter worth approximately $103,000. Finally, Counterpoint Mutual Funds LLC increased its holdings in shares of PROG by 19.0% during the third quarter. Counterpoint Mutual Funds LLC now owns 3,572 shares of the company’s stock worth $119,000 after purchasing an additional 570 shares during the period. 97.92% of the stock is owned by institutional investors.

PROG Company Profile

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.