Rent-A-Center (NASDAQ:RCII) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Rent-A-Center's shares have underperformed the industry in the past six months, as investors remain concerned about the company’s waning top and bottom lines. In third-quarter 2017, the company posted a loss of 15 cents a share that missed the Zacks Consensus Estimate and also fell sharply from the year-ago period. Top line also slid year over year and came below the consensus mark, after surpassing the same in the preceding quarter. Comps also declined but improved sequentially. Nevertheless, the company is concentrating on a new labor model, supply chain initiative and productivity enhancements. These endeavors are directed toward improving the performance of Core U.S. segment, optimizing the Acceptance Now business and enhancing distribution channels as well as integrating retail and online offerings. The company is also rationalizing its store base and lowering its debt load. It is exploring strategic and financial alternatives.”
Several other research firms have also recently commented on RCII. BidaskClub upgraded Rent-A-Center from a “sell” rating to a “hold” rating in a research report on Wednesday, December 6th. Raymond James Financial restated a “market perform” rating on shares of Rent-A-Center in a research report on Wednesday, October 25th. Jefferies Group lowered their target price on Rent-A-Center from $12.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, November 1st. Stifel Nicolaus restated a “hold” rating and issued a $10.50 target price on shares of Rent-A-Center in a research report on Wednesday, November 1st. Finally, Loop Capital set a $8.00 target price on Rent-A-Center and gave the company a “sell” rating in a research report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Rent-A-Center presently has an average rating of “Hold” and a consensus target price of $11.21.
Rent-A-Center (NASDAQ:RCII) traded up $0.08 on Friday, reaching $11.16. The company had a trading volume of 1,346,400 shares, compared to its average volume of 2,268,462. Rent-A-Center has a 12-month low of $7.76 and a 12-month high of $13.89. The company has a current ratio of 2.55, a quick ratio of 0.46 and a debt-to-equity ratio of 2.69. The firm has a market cap of $594.96, a PE ratio of -3.40 and a beta of 0.69.
Rent-A-Center (NASDAQ:RCII) last posted its earnings results on Monday, October 30th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.07). Rent-A-Center had a negative net margin of 6.35% and a negative return on equity of 0.66%. The business had revenue of $643.97 million during the quarter, compared to analyst estimates of $649.09 million. During the same quarter in the prior year, the business earned $0.11 earnings per share. The firm’s revenue was down 7.2% compared to the same quarter last year. equities analysts predict that Rent-A-Center will post -0.19 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Rent-A-Center during the 2nd quarter valued at $120,000. Cubist Systematic Strategies LLC acquired a new position in shares of Rent-A-Center during the 2nd quarter valued at $132,000. Crossmark Global Holdings Inc. acquired a new position in shares of Rent-A-Center during the 3rd quarter valued at $132,000. Piedmont Investment Advisors LLC acquired a new position in shares of Rent-A-Center during the 2nd quarter valued at $136,000. Finally, Eqis Capital Management Inc. acquired a new position in shares of Rent-A-Center during the 3rd quarter valued at $184,000.
Rent-A-Center Company Profile
Rent-A-Center, Inc is a rent-to-own operator in North America. The Company provides an opportunity to obtain ownership of products, such as consumer electronics, appliances, computers (including tablets), smartphones and furniture (including accessories), under rental purchase agreements. The Company operates in four segments: Core U.S., Acceptance Now, Mexico, and Franchising.
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