Zacks Investment Research upgraded shares of FirstCash (NYSE:FCFS) from a hold rating to a buy rating in a report issued on Friday morning. Zacks Investment Research currently has $79.00 price target on the credit services provider’s stock.
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. “
A number of other research analysts have also recently weighed in on the stock. BidaskClub raised shares of FirstCash from a sell rating to a hold rating in a research note on Friday, October 27th. Credit Suisse Group started coverage on shares of FirstCash in a research note on Wednesday, October 4th. They set an outperform rating and a $73.00 price objective for the company. ValuEngine cut shares of FirstCash from a buy rating to a hold rating in a research note on Friday, December 1st. Jefferies Group reissued a buy rating and set a $73.00 price objective on shares of FirstCash in a research note on Thursday, October 12th. Finally, Wedbush raised their price objective on shares of FirstCash from $62.00 to $66.00 and gave the stock an outperform rating in a research note on Thursday, October 5th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. FirstCash currently has a consensus rating of Buy and an average target price of $67.43.
FirstCash (FCFS) traded down $0.05 during mid-day trading on Friday, hitting $70.45. 162,100 shares of the stock were exchanged, compared to its average volume of 224,189. FirstCash has a 52 week low of $39.80 and a 52 week high of $70.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.30 and a current ratio of 6.57. The firm has a market cap of $3,324.30, a P/E ratio of 30.11 and a beta of 0.79.
FirstCash (NYSE:FCFS) last posted its quarterly earnings results on Thursday, October 26th. The credit services provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. FirstCash had a net margin of 6.41% and a return on equity of 8.45%. The company had revenue of $435.40 million during the quarter, compared to the consensus estimate of $418.57 million. During the same period last year, the firm earned $0.58 EPS. The company’s revenue for the quarter was up 66.7% on a year-over-year basis. equities research analysts expect that FirstCash will post 2.65 earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the company. Zions Bancorporation purchased a new position in shares of FirstCash during the 3rd quarter worth approximately $230,000. Insight Capital Research & Management Inc. purchased a new stake in FirstCash in the 3rd quarter worth approximately $913,000. Cornerstone Capital Management Holdings LLC. purchased a new stake in FirstCash in the 3rd quarter worth approximately $1,736,000. California Public Employees Retirement System grew its stake in FirstCash by 3.9% in the 3rd quarter. California Public Employees Retirement System now owns 166,423 shares of the credit services provider’s stock worth $10,510,000 after acquiring an additional 6,211 shares during the period. Finally, Grandeur Peak Global Advisors LLC purchased a new stake in FirstCash in the 3rd quarter worth approximately $54,801,000. 95.69% of the stock is owned by institutional investors and hedge funds.
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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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