Jefferies Group started coverage on shares of Rent-A-Center Inc. (NASDAQ:RCII) in a research note issued to investors on Thursday, The Fly reports. The brokerage set a “hold” rating on the stock.
Separately, Zacks Investment Research lowered shares of Rent-A-Center from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $22.72.
Shares of Rent-A-Center (NASDAQ:RCII) opened at 9.55 on Thursday. The stock has a 50 day moving average price of $12.38 and a 200 day moving average price of $13.00. The firm’s market capitalization is $507.26 million. Rent-A-Center has a 52 week low of $8.00 and a 52 week high of $26.26.
Rent-A-Center (NASDAQ:RCII) last announced its earnings results on Wednesday, July 27th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by $0.08. Rent-A-Center had a positive return on equity of 14.03% and a negative net margin of 27.93%. The company earned $749.60 million during the quarter, compared to analysts’ expectations of $782.12 million. During the same quarter last year, the firm posted $0.50 earnings per share. The firm’s revenue was down 8.1% on a year-over-year basis. Analysts forecast that Rent-A-Center will post $1.73 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Monday, October 3rd will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Thursday, September 29th. Rent-A-Center’s dividend payout ratio is presently -1.93%.
In other Rent-A-Center news, CEO Robert Dale Davis purchased 10,000 shares of the stock in a transaction on Monday, August 1st. The stock was acquired at an average cost of $10.87 per share, with a total value of $108,700.00. Following the completion of the purchase, the chief executive officer now directly owns 131,850 shares of the company’s stock, valued at approximately $1,433,209.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of RCII. A.R.T. Advisors LLC increased its stake in Rent-A-Center by 519.9% in the first quarter. A.R.T. Advisors LLC now owns 286,762 shares of the company’s stock valued at $4,545,000 after buying an additional 240,500 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Rent-A-Center by 18.2% in the first quarter. Envestnet Asset Management Inc. now owns 246,098 shares of the company’s stock valued at $3,901,000 after buying an additional 37,940 shares in the last quarter. Pinnacle Holdings LLC increased its stake in Rent-A-Center by 4.4% in the first quarter. Pinnacle Holdings LLC now owns 36,845 shares of the company’s stock valued at $584,000 after buying an additional 1,550 shares in the last quarter. Renaissance Technologies LLC increased its stake in Rent-A-Center by 87.5% in the first quarter. Renaissance Technologies LLC now owns 808,210 shares of the company’s stock valued at $12,810,000 after buying an additional 377,200 shares in the last quarter. Finally, Hancock Holding Co. acquired a new stake in Rent-A-Center during the first quarter valued at $761,000. 9.58% of the stock is owned by institutional investors and hedge funds.
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.