PROG (NYSE:PRG) Rating Lowered to “Hold” at Zacks Research

PROG (NYSE:PRG) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

PRG has been the subject of a number of other reports. Stephens lifted their target price on PROG from $40.00 to $47.50 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings upgraded PROG from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 24th. Loop Capital downgraded PROG from a “buy” rating to a “hold” rating in a report on Wednesday. B. Riley Financial reaffirmed a “buy” rating on shares of PROG in a research report on Thursday, April 30th. Finally, TD Cowen increased their target price on PROG from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, PROG has a consensus rating of “Moderate Buy” and a consensus price target of $43.70.

PROG Stock Up 1.4%

Shares of PRG opened at $46.72 on Monday. The company has a market capitalization of $1.87 billion, a PE ratio of 12.77 and a beta of 1.82. The stock’s 50-day moving average price is $36.18 and its two-hundred day moving average price is $33.18. The company has a current ratio of 4.27, a quick ratio of 2.41 and a debt-to-equity ratio of 1.21. PROG has a 12 month low of $25.80 and a 12 month high of $47.60.

PROG (NYSE:PRG) last issued its quarterly earnings data on Wednesday, April 29th. The fintech holding company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.46. The company had revenue of $742.67 million during the quarter, compared to the consensus estimate of $732.70 million. PROG had a return on equity of 21.94% and a net margin of 5.88%.The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.90 earnings per share. PROG has set its Q2 2026 guidance at 1.050-1.050 EPS. On average, analysts anticipate that PROG will post 4.7 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PRG. Quarry LP raised its position in PROG by 82.8% in the 4th quarter. Quarry LP now owns 1,117 shares of the fintech holding company’s stock valued at $33,000 after buying an additional 506 shares during the last quarter. Global Assets Advisory LLC purchased a new position in PROG during the 1st quarter worth $38,000. Federation des caisses Desjardins du Quebec bought a new stake in shares of PROG in the 4th quarter worth $44,000. GAMMA Investing LLC grew its stake in shares of PROG by 45.3% in the 4th quarter. GAMMA Investing LLC now owns 1,806 shares of the fintech holding company’s stock worth $53,000 after acquiring an additional 563 shares in the last quarter. Finally, WealthCollab LLC raised its holdings in shares of PROG by 61.9% in the second quarter. WealthCollab LLC now owns 2,092 shares of the fintech holding company’s stock valued at $61,000 after purchasing an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 97.92% of the company’s stock.

About PROG

PROG Holdings, Inc, formerly known as Aaron’s, is a North American provider of lease-to-own and consumer finance solutions. The company operates through two primary segments: Aaron’s Business Solutions and Progressive Financial Services. Through Aaron’s Business Solutions, PROG offers customers access to furniture, electronics, home appliances and technology products via lease ownership arrangements, serving both individual consumers and small businesses.

The Progressive Financial Services segment provides lease-purchase and retail point-of-sale financing programs to customers with limited credit histories.