Rent-A-Center (NASDAQ:RCII) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday, January 12th.
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.”
A number of other equities analysts also recently commented on RCII. Jefferies Group reduced their price objective 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. BidaskClub raised Rent-A-Center from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Raymond James Financial reissued a “market perform” rating on shares of Rent-A-Center in a research note on Wednesday, October 25th. Loop Capital set a $8.00 price objective on Rent-A-Center and gave the company a “sell” rating in a research note on Tuesday, October 31st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $10.50 price objective on shares of Rent-A-Center in a research note on Wednesday, November 1st. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $11.21.
Rent-A-Center (NASDAQ:RCII) traded down $0.28 during midday trading on Friday, hitting $9.46. The stock had a trading volume of 652,418 shares, compared to its average volume of 1,549,561. The stock has a market capitalization of $519.26, a P/E ratio of -2.97 and a beta of 0.63. Rent-A-Center has a 1-year low of $7.93 and a 1-year high of $13.89. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.46 and a current ratio of 2.55.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Frontier Capital Management Co. LLC increased its position in Rent-A-Center by 2.2% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 3,215,402 shares of the company’s stock valued at $36,913,000 after acquiring an additional 68,605 shares during the period. Arlington Value Capital LLC boosted its stake in Rent-A-Center by 85.2% in the 2nd quarter. Arlington Value Capital LLC now owns 2,722,514 shares of the company’s stock worth $31,907,000 after purchasing an additional 1,252,756 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Rent-A-Center by 1.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,577,669 shares of the company’s stock worth $18,112,000 after purchasing an additional 25,839 shares during the period. JPMorgan Chase & Co. boosted its stake in Rent-A-Center by 15.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,418,648 shares of the company’s stock worth $16,357,000 after purchasing an additional 189,506 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake in Rent-A-Center by 28.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 582,062 shares of the company’s stock worth $6,822,000 after purchasing an additional 130,293 shares during the period.
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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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