PROG (NYSE:PRG) Price Target Cut to $45.00 by Analysts at TD Cowen

PROG (NYSE:PRG) had its target price reduced by equities researchers at TD Cowen from $50.00 to $45.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the fintech holding company’s stock. TD Cowen‘s price objective would suggest a potential upside of 38.22% from the company’s current price.

A number of other analysts have also issued reports on the stock. Wall Street Zen lowered shares of PROG from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 6th. Weiss Ratings upgraded shares of PROG from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. Jefferies Financial Group lowered their target price on PROG from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, October 7th. B. Riley Financial lifted their price target on PROG from $57.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Thursday, October 8th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.38.

PROG Price Performance

Shares of PRG traded up $1.68 during mid-day trading on Thursday, hitting $32.56. The company’s stock had a trading volume of 303,128 shares, compared to its average volume of 551,862. The company has a current ratio of 4.03, a quick ratio of 2.29 and a debt-to-equity ratio of 1.10. The firm has a 50-day simple moving average of $34.26 and a 200 day simple moving average of $35.61. PROG has a 1-year low of $25.18 and a 1-year high of $47.73. The firm has a market capitalization of $1.30 billion, a P/E ratio of 8.97 and a beta of 1.78.

PROG (NYSE:PRG) last issued its quarterly earnings data on Wednesday, October 28th. The fintech holding company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.03). PROG had a net margin of 5.57% and a return on equity of 21.88%. The company had revenue of $725.78 million during the quarter, compared to analysts’ expectations of $738.09 million. Analysts predict that PROG will post 4.93 EPS for the current fiscal year.

Insider Activity at PROG

In related news, insider Michael King sold 1,070 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $46.00, for a total value of $49,220.00. Following the completion of the transaction, the insider directly owned 60,825 shares of the company’s stock, valued at approximately $2,797,950. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO George M. Sewell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $45.53, for a total transaction of $91,060.00. Following the sale, the chief accounting officer owned 28,385 shares of the company’s stock, valued at approximately $1,292,369.05. This represents a 6.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 4,000 shares of company stock valued at $183,060 in the last ninety days. Insiders own 3.72% of the company’s stock.

Institutional Investors Weigh In On PROG

Several hedge funds have recently modified their holdings of the company. First Trust Advisors LP lifted its stake in PROG by 588.0% in the first quarter. First Trust Advisors LP now owns 840,029 shares of the fintech holding company’s stock valued at $24,100,000 after buying an additional 717,932 shares during the period. Wellington Management Group LLP grew its stake in PROG by 12.5% in the 2nd quarter. Wellington Management Group LLP now owns 697,324 shares of the fintech holding company’s stock worth $32,502,000 after buying an additional 77,291 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of PROG during the second quarter valued at about $31,229,000. Ancora Advisors LLC bought a new stake in PROG in the second quarter valued at $22,288,000. Finally, Principal Financial Group Inc. boosted its position in shares of PROG by 6.5% in the 1st quarter. Principal Financial Group Inc. now owns 292,744 shares of the fintech holding company’s stock worth $8,399,000 after purchasing an additional 17,789 shares in the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

More PROG News

Here are the key news stories impacting PROG this week:

• Positive Sentiment: Share repurchase supports the stock: PROG intends to enter an accelerated share repurchase agreement for $100 million of common stock, with the transactions expected to be completed in the first quarter of 2027. The program signals management’s confidence in the business and could reduce the share count, potentially supporting per-share earnings. PROG Holdings Announces Intention to Enter into $100 Million Accelerated Share Repurchase Program
• Neutral Sentiment: Mixed interpretation of earnings: PROG reported third-quarter adjusted earnings of $1.06 per share, up from $0.90 a year earlier. One estimate set viewed the result as matching expectations, while other estimates placed consensus at $1.09. Revenue of approximately $725.8 million also reflected year-over-year business activity, including Purchasing Power, acquired in January, but was below the $738.1 million estimate. PROG Holdings Reports Third Quarter 2026 Results
• Negative Sentiment: Results and outlook disappointed investors: The revenue shortfall and analyst-estimate miss prompted an initial selloff. More importantly, PROG lowered its 2026 earnings guidance, raising concerns about near-term operating momentum and profitability despite the company’s diversified fintech platform. PROG Shares Fall as Q3 Results Miss Estimates, 2026 Guidance Lowered

About PROG

PROG Holdings, Inc is a financial technology company that provides consumer payment and lease-to-own solutions through its operating businesses. Its services are designed to help consumers acquire household goods and other merchandise through retail stores, e-commerce websites and other merchant channels.

The company’s primary business is Progressive Leasing, a lease-to-own provider that gives consumers an alternative to traditional credit when purchasing products such as furniture, appliances, electronics, mattresses and other household merchandise.