FirstCash, Inc. (NASDAQ:FCFS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, November 1st.
According to Zacks, “FirstCash Inc. is an operator of pawn stores. The company focuses on serving cash and credit constrained consumers through its retail pawn locations, which buy and sell jewelry, consumer electronics, power tools, household appliances, sporting goods, musical instruments and other merchandise. It operates primarily in the U.S., Mexico, Guatemala and El Salvador. FirstCash, Inc., formerly known as First Cash Financial Services Inc., is based in Arlington, United States. “
FCFS has been the subject of a number of other research reports. BidaskClub upgraded shares of FirstCash from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Jefferies Group LLC restated a “buy” rating and issued a $73.00 price objective on shares of FirstCash in a research report on Thursday, October 12th. Wedbush lifted their target price on shares of FirstCash from $62.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, October 5th. Credit Suisse Group started coverage on shares of FirstCash in a research report on Wednesday, October 4th. They set an “outperform” rating and a $73.00 target price for the company. Finally, JMP Securities lifted their price target on shares of FirstCash and gave the stock an “outperform” rating in a research note on Friday, July 28th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $65.14.
Shares of FirstCash (NASDAQ:FCFS) opened at $63.40 on Wednesday. FirstCash has a twelve month low of $39.80 and a twelve month high of $65.60.
FirstCash (NASDAQ:FCFS) last posted its quarterly earnings data on Thursday, October 26th. The credit services provider reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. The company had revenue of $435.40 million for the quarter, compared to analyst estimates of $418.57 million. FirstCash had a net margin of 6.49% and a return on equity of 7.66%. The company’s quarterly revenue was up 66.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 EPS.
FirstCash announced that its board has approved a stock buyback plan on Thursday, October 26th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the credit services provider to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in FCFS. Schwab Charles Investment Management Inc. increased its holdings in FirstCash by 1.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 310,577 shares of the credit services provider’s stock worth $19,613,000 after acquiring an additional 4,417 shares in the last quarter. Wells Fargo & Company MN boosted its stake in FirstCash by 3.7% in the 3rd quarter. Wells Fargo & Company MN now owns 416,283 shares of the credit services provider’s stock worth $26,289,000 after purchasing an additional 14,896 shares during the period. Eagle Asset Management Inc. bought a new position in FirstCash in the 3rd quarter worth approximately $16,060,000. American International Group Inc. boosted its stake in FirstCash by 5.5% in the 3rd quarter. American International Group Inc. now owns 37,622 shares of the credit services provider’s stock worth $2,376,000 after purchasing an additional 1,966 shares during the period. Finally, Rothschild Asset Management Inc. bought a new position in FirstCash in the 3rd quarter worth approximately $5,098,000.
FirstCash, Inc, formerly First Cash Financial Services, Inc, is an operator of retail-based pawn stores in the United States and Latin America. The Company’s primary business is the operation of full-service pawn stores, which make small pawn loans secured by personal property, such as consumer electronics, jewelry, power tools, household appliances, sporting goods and musical instruments.
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