PROG (NYSE:PRG) PT Raised to $55.00

PROG (NYSE:PRG) had its price objective upped by equities research analysts at KeyCorp from $46.00 to $55.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target indicates a potential upside of 23.13% from the company’s previous close.

A number of other brokerages have also recently weighed in on PRG. Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and boosted their price objective for the company from $41.00 to $55.00 in a research note on Monday, August 19th. BTIG Research assumed coverage on shares of PROG in a research report on Friday, June 7th. They issued a “neutral” rating for the company. Finally, TD Cowen raised their price objective on shares of PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.20.

PROG Trading Up 0.7 %

Shares of PROG stock opened at $44.67 on Tuesday. The company has a current ratio of 3.87, a quick ratio of 1.80 and a debt-to-equity ratio of 1.02. The company has a fifty day simple moving average of $41.30 and a 200-day simple moving average of $36.54. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 18.23 and a beta of 2.11. PROG has a 12-month low of $26.39 and a 12-month high of $47.85.

PROG (NYSE:PRG) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.22. PROG had a net margin of 4.57% and a return on equity of 26.30%. The company had revenue of $592.16 million during the quarter, compared to the consensus estimate of $573.23 million. During the same quarter in the prior year, the firm posted $0.92 earnings per share. PROG’s revenue for the quarter was down .1% on a year-over-year basis. On average, equities analysts forecast that PROG will post 3.34 EPS for the current fiscal year.

Institutional Trading of PROG

Hedge funds have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its position in PROG by 218.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 66,542 shares of the company’s stock valued at $2,057,000 after purchasing an additional 45,631 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of PROG in the 4th quarter valued at approximately $430,000. Norges Bank purchased a new stake in shares of PROG in the fourth quarter valued at approximately $12,666,000. Dynamic Technology Lab Private Ltd acquired a new position in PROG during the fourth quarter worth $1,056,000. Finally, Clearbridge Investments LLC grew its holdings in PROG by 0.6% during the fourth quarter. Clearbridge Investments LLC now owns 431,007 shares of the company’s stock worth $13,322,000 after acquiring an additional 2,552 shares during the period. Institutional investors and hedge funds own 97.92% of the company’s stock.

About PROG

PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.