FirstCash Holdings, Inc. (NASDAQ:FCFS) Stock Has Consensus Target Price of $247.50

Shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $247.50.

FCFS has been the subject of a number of recent analyst reports. TD Cowen lowered their price target on FirstCash from $242.00 to $235.00 and set a “buy” rating for the company in a research report on Friday, October 23rd. Canaccord Genuity Group cut their price objective on FirstCash from $265.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Stephens reissued an “overweight” rating and set a $250.00 target price on shares of FirstCash in a research note on Thursday, October 1st. Wall Street Zen cut FirstCash from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Finally, Weiss Ratings downgraded FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 23rd.

Insider Activity at FirstCash

In other FirstCash news, Director James Graves sold 3,750 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $221.20, for a total value of $829,500.00. Following the completion of the transaction, the director directly owned 11,929 shares in the company, valued at approximately $2,638,694.80. This represents a 23.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO R. Orr sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $216.00, for a total transaction of $432,000.00. Following the completion of the sale, the chief financial officer directly owned 34,734 shares of the company’s stock, valued at approximately $7,502,544. This represents a 5.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 14,098 shares of company stock valued at $3,051,281 in the last 90 days. 2.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On FirstCash

Institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc purchased a new stake in FirstCash in the second quarter worth $12,616,000. BlackRock Inc. purchased a new position in FirstCash during the second quarter valued at $1,088,429,000. Copeland Capital Management LLC lifted its position in FirstCash by 179.3% during the third quarter. Copeland Capital Management LLC now owns 276,429 shares of the company’s stock valued at $58,390,000 after buying an additional 177,470 shares during the period. Philadelphia Financial Management of San Francisco LLC purchased a new position in FirstCash during the second quarter valued at $8,025,472. Finally, California State Teachers Retirement System boosted its holdings in shares of FirstCash by 19.8% during the 1st quarter. California State Teachers Retirement System now owns 45,148 shares of the company’s stock valued at $8,488,000 after buying an additional 7,475 shares in the last quarter. 80.30% of the stock is owned by institutional investors.

FirstCash Price Performance

FCFS stock opened at $183.43 on Wednesday. The firm’s 50-day moving average price is $208.56 and its two-hundred day moving average price is $206.57. FirstCash has a 12-month low of $146.95 and a 12-month high of $238.93. The stock has a market capitalization of $7.87 billion, a price-to-earnings ratio of 19.87 and a beta of 0.59. The company has a current ratio of 4.81, a quick ratio of 3.42 and a debt-to-equity ratio of 1.08.

FirstCash (NASDAQ:FCFS) last issued its quarterly earnings data on Thursday, October 22nd. The company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.63 by $0.05. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. FirstCash had a net margin of 9.48% and a return on equity of 20.17%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.86 earnings per share. As a group, equities analysts predict that FirstCash will post 11.03 earnings per share for the current year.

FirstCash Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Friday, November 13th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.0%. This is an increase from FirstCash’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, November 13th. FirstCash’s dividend payout ratio (DPR) is presently 18.20%.

FirstCash declared that its Board of Directors has initiated a share buyback plan on Wednesday, October 28th that authorizes the company to buy back $200 million in shares. This buyback authorization authorizes the company to buy up to 2.4% of its stock through open market purchases. Share buyback plans are often a sign that the company’s management believes its shares are undervalued.

FirstCash Company Profile

FirstCash Holdings, Inc. operates pawn stores that provide short-term, non-recourse loans secured by personal property and sell previously owned merchandise. Its stores also purchase items from customers, including jewelry, electronics, tools and other goods. The company serves customers in the United States and Latin America, including Mexico, Guatemala, El Salvador and Colombia. Its retail operations offer a range of pre-owned goods, with jewelry among its key product categories. FirstCash was formed in 2016 through the merger of First Cash Financial Services and Cash America International.