PROG Holdings, Inc. (NYSE:PRG) Receives $47.20 Average PT from Analysts

PROG Holdings, Inc. (NYSE:PRG) has received a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $47.20.

A number of equities research analysts have commented on PRG shares. TD Cowen upped their price target on PROG from $40.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. BTIG Research initiated coverage on PROG in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Loop Capital upgraded shares of PROG from a “hold” rating to a “buy” rating and raised their price target for the stock from $41.00 to $55.00 in a report on Monday, August 19th. Finally, KeyCorp upped their price objective on shares of PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th.

PROG Stock Performance

PROG stock opened at $49.49 on Friday. The business has a 50 day moving average of $43.30 and a 200-day moving average of $37.31. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.87 and a quick ratio of 1.80. PROG has a 1 year low of $26.39 and a 1 year high of $50.28. The company has a market capitalization of $2.14 billion, a P/E ratio of 20.20 and a beta of 2.11.

PROG (NYSE:PRG) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.22. PROG had a net margin of 4.57% and a return on equity of 26.30%. The firm had revenue of $592.16 million during the quarter, compared to the consensus estimate of $573.23 million. During the same quarter last year, the firm earned $0.92 earnings per share. The company’s revenue for the quarter was down .1% on a year-over-year basis. On average, equities research analysts predict that PROG will post 3.34 earnings per share for the current year.

PROG Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.97%. PROG’s payout ratio is currently 19.59%.

Hedge Funds Weigh In On PROG

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of PROG by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 5,638,231 shares of the company’s stock valued at $174,278,000 after acquiring an additional 105,101 shares during the period. Vulcan Value Partners LLC raised its holdings in shares of PROG by 6.5% during the fourth quarter. Vulcan Value Partners LLC now owns 1,021,463 shares of the company’s stock valued at $31,573,000 after purchasing an additional 62,255 shares during the period. D. E. Shaw & Co. Inc. boosted its position in shares of PROG by 0.8% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 896,075 shares of the company’s stock worth $31,076,000 after purchasing an additional 6,803 shares in the last quarter. American Century Companies Inc. grew its stake in shares of PROG by 14.1% in the 2nd quarter. American Century Companies Inc. now owns 684,705 shares of the company’s stock valued at $23,746,000 after buying an additional 84,497 shares during the period. Finally, Clearbridge Investments LLC raised its stake in PROG by 2.3% during the 1st quarter. Clearbridge Investments LLC now owns 440,814 shares of the company’s stock worth $15,182,000 after buying an additional 9,807 shares during the period. 97.92% of the stock is currently owned by institutional investors.

About PROG

PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.