KeyCorp Raises PROG (NYSE:PRG) Price Target to $46.00

PROG (NYSE:PRG) had its price target lifted by analysts at KeyCorp from $44.00 to $46.00 in a report released on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target would suggest a potential upside of 8.85% from the stock’s current price.

A number of other equities analysts have also recently weighed in on PRG. Loop Capital lifted their price target on PROG from $35.00 to $41.00 and gave the stock a “hold” rating in a research note on Thursday. TD Cowen lifted their target price on PROG from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday. Finally, BTIG Research initiated coverage on PROG in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, PROG has an average rating of “Moderate Buy” and a consensus price target of $42.60.

PROG Price Performance

PROG stock traded up $0.01 during midday trading on Thursday, hitting $42.26. The company’s stock had a trading volume of 1,145,703 shares, compared to its average volume of 392,916. The company has a quick ratio of 1.83, a current ratio of 3.91 and a debt-to-equity ratio of 1.01. The stock’s 50-day moving average price is $35.16 and its 200-day moving average price is $33.27. PROG has a 12 month low of $26.39 and a 12 month high of $44.81. The company has a market capitalization of $1.82 billion, a PE ratio of 17.36 and a beta of 2.10.

PROG (NYSE:PRG) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.70 by $0.22. The firm had revenue of $592.16 million for the quarter, compared to analysts’ expectations of $573.23 million. PROG had a net margin of 4.71% and a return on equity of 26.67%. PROG’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 earnings per share. Analysts anticipate that PROG will post 2.98 earnings per share for the current fiscal year.

Institutional Trading of PROG

Institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. bought a new stake in shares of PROG during the fourth quarter valued at approximately $27,000. DekaBank Deutsche Girozentrale bought a new stake in shares of PROG during the first quarter valued at approximately $59,000. Meeder Asset Management Inc. bought a new stake in shares of PROG during the fourth quarter valued at approximately $169,000. Diversified Trust Co increased its position in shares of PROG by 8.4% during the second quarter. Diversified Trust Co now owns 7,329 shares of the company’s stock valued at $254,000 after purchasing an additional 569 shares during the period. Finally, Inspire Advisors LLC bought a new stake in shares of PROG during the first quarter valued at approximately $256,000. 97.92% of the stock is currently 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.