FirstCash (NASDAQ:FCFS – Get Free Report) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.
Several other analysts also recently weighed in on FCFS. Wall Street Zen downgraded shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Canaccord Genuity Group increased their price objective on FirstCash from $242.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Weiss Ratings downgraded FirstCash from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, April 27th. Finally, TD Cowen lifted their target price on FirstCash from $205.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, FirstCash has a consensus rating of “Moderate Buy” and an average price target of $198.00.
Get Our Latest Research Report on FirstCash
FirstCash Trading Down 1.9%
FirstCash (NASDAQ:FCFS – Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The company reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.39. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1 billion. FirstCash had a net margin of 9.15% and a return on equity of 18.68%. The firm’s quarterly revenue was up 25.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.07 EPS. On average, research analysts anticipate that FirstCash will post 11.3 EPS for the current year.
Insiders Place Their Bets
In other news, COO Thomas Brent Stuart sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $228.49, for a total value of $2,284,900.00. Following the completion of the sale, the chief operating officer owned 140,846 shares of the company’s stock, valued at approximately $32,181,902.54. This represents a 6.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Raul Ramos sold 6,835 shares of FirstCash stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $225.23, for a total transaction of $1,539,447.05. Following the transaction, the senior vice president directly owned 20,400 shares in the company, valued at approximately $4,594,692. The trade was a 25.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 27,500 shares of company stock worth $6,243,104. 2.86% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of FirstCash by 36.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,169,281 shares of the company’s stock worth $186,361,000 after purchasing an additional 312,132 shares during the last quarter. Geode Capital Management LLC lifted its position in FirstCash by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 1,043,699 shares of the company’s stock valued at $166,367,000 after acquiring an additional 31,550 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in FirstCash by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,009,170 shares of the company’s stock valued at $160,850,000 after acquiring an additional 5,626 shares during the last quarter. Sei Investments Co. boosted its stake in FirstCash by 2.2% in the first quarter. Sei Investments Co. now owns 794,005 shares of the company’s stock valued at $149,273,000 after acquiring an additional 17,177 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in FirstCash by 67.6% in the third quarter. AQR Capital Management LLC now owns 623,059 shares of the company’s stock valued at $97,503,000 after acquiring an additional 251,305 shares in the last quarter. 80.30% of the stock is owned by institutional investors.
FirstCash Company Profile
FirstCash, Inc (NASDAQ: FCFS) is a leading integrated operator of pawn stores and provider of short-term consumer loan services in the United States and Mexico. Through its retail pawn outlets, FirstCash offers collateral-based loans secured by personal property, enabling customers to access liquidity without a credit history or traditional bank account. The company also purchases, trades and sells a broad range of secondhand merchandise, including electronics, jewelry and power tools, through its network of conveniently located stores.
In addition to its pawn-broking activities, FirstCash provides unsecured consumer loans designed to meet urgent cash needs.
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