PROG (NYSE:PRG) Reaches New 52-Week High – Still a Buy?

PROG Holdings, Inc (NYSE:PRG)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $47.73 and last traded at $47.5330, with a volume of 417240 shares changing hands. The stock had previously closed at $46.51.

Analyst Ratings Changes

A number of analysts have issued reports on PRG shares. Wall Street Zen downgraded PROG from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 14th. B. Riley Financial reaffirmed a “buy” rating on shares of PROG in a research note on Thursday, April 30th. Weiss Ratings upgraded shares of PROG from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 24th. Raymond James Financial reiterated an “outperform” rating and issued a $45.00 price target on shares of PROG in a research note on Thursday, April 30th. Finally, Stephens lifted their target price on PROG from $40.00 to $47.50 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $47.36.

PROG Stock Performance

The company has a quick ratio of 2.41, a current ratio of 4.27 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $1.90 billion, a PE ratio of 12.99 and a beta of 1.78. The stock’s fifty day simple moving average is $38.70 and its 200-day simple moving average is $34.27.

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, beating the consensus estimate of $0.78 by $0.46. PROG had a return on equity of 21.94% and a net margin of 5.88%.The business had revenue of $742.67 million for the quarter, compared to the consensus estimate of $732.70 million. During the same period in the prior year, the business earned $0.90 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. PROG has set its Q2 2026 guidance at 1.050-1.050 EPS. On average, research analysts predict that PROG Holdings, Inc will post 4.7 earnings per share for the current fiscal year.

PROG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. PROG’s payout ratio is currently 15.30%.

Institutional Investors Weigh In On PROG

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRG. Quarry LP raised its holdings in PROG by 82.8% in the fourth 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 period. Global Assets Advisory LLC acquired a new position in shares of PROG during the 1st quarter valued at $38,000. Federation des caisses Desjardins du Quebec purchased a new stake in PROG during the 4th quarter worth $44,000. GAMMA Investing LLC increased its holdings in PROG by 45.3% in the 4th quarter. GAMMA Investing LLC now owns 1,806 shares of the fintech holding company’s stock valued at $53,000 after purchasing an additional 563 shares in the last quarter. Finally, WealthCollab LLC raised its position in 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 period. 97.92% of the stock is currently owned by institutional investors and hedge funds.

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.