FirstCash (NASDAQ:FCFS) Stock Price Up 9.3% – Here’s Why

FirstCash Holdings, Inc. (NASDAQ:FCFS) shot up 9.3% during mid-day trading on Friday . The company traded as high as $225.06 and last traded at $225.06. Approximately 309,114 shares changed hands during trading, a decline of 17% from the average daily volume of 371,175 shares. The stock had previously closed at $205.91.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FCFS shares. Loop Capital upgraded shares of FirstCash from a “hold” rating to a “buy” rating and set a $255.00 target price on the stock in a report on Monday, August 10th. TD Cowen upped their price objective on shares of FirstCash from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Canaccord Genuity Group raised their price objective on FirstCash from $242.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Weiss Ratings upgraded FirstCash from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, August 7th. Finally, Zacks Research cut FirstCash from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $249.00.

FirstCash Price Performance

The company has a debt-to-equity ratio of 1.01, a current ratio of 4.89 and a quick ratio of 3.51. The company’s 50-day moving average price is $214.07 and its 200-day moving average price is $206.78. The company has a market cap of $9.76 billion, a P/E ratio of 25.69 and a beta of 0.53.

FirstCash (NASDAQ:FCFS) last announced its earnings results on Thursday, July 23rd. The company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.11. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.03 billion. FirstCash had a net margin of 9.42% and a return on equity of 19.65%. The company’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.34 EPS. As a group, sell-side analysts predict that FirstCash Holdings, Inc. will post 11.85 earnings per share for the current fiscal year.

FirstCash Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, August 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.7%. FirstCash’s dividend payout ratio (DPR) is presently 19.18%.

Insider Transactions at FirstCash

In related news, COO Thomas Brent Stuart sold 5,348 shares of FirstCash stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $214.63, for a total value of $1,147,841.24. Following the sale, the chief operating officer owned 135,498 shares of the company’s stock, valued at approximately $29,081,935.74. This trade represents a 3.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Howard F. Hambleton sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $212.98, for a total value of $425,960.00. Following the completion of the sale, the insider owned 30,406 shares in the company, valued at $6,475,869.88. The trade was a 6.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,348 shares of company stock worth $4,492,755 in the last 90 days. 2.86% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FCFS. Harbor Investment Advisory LLC acquired a new stake in FirstCash in the 1st quarter valued at $26,000. Geneos Wealth Management Inc. bought a new position in shares of FirstCash in the 1st quarter valued at about $29,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of FirstCash in the second quarter valued at about $34,000. Assetmark Inc. increased its position in shares of FirstCash by 113.2% in the first quarter. Assetmark Inc. now owns 194 shares of the company’s stock valued at $36,000 after acquiring an additional 103 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in FirstCash by 490.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 195 shares of the company’s stock worth $31,000 after acquiring an additional 162 shares in the last quarter. Institutional investors own 80.30% of the company’s stock.

FirstCash Company Profile

FirstCash, Inc (NASDAQ: FCFS) is a leading integrated operator of pawn stores and provider of short-term consumer loan services in the United States and Mexico. Through its retail pawn outlets, FirstCash offers collateral-based loans secured by personal property, enabling customers to access liquidity without a credit history or traditional bank account. The company also purchases, trades and sells a broad range of secondhand merchandise, including electronics, jewelry and power tools, through its network of conveniently located stores.

In addition to its pawn-broking activities, FirstCash provides unsecured consumer loans designed to meet urgent cash needs.