Rent-A-Center’s (RCII) “Hold” Rating Reaffirmed at Stifel Nicolaus
Stifel Nicolaus reissued their hold rating on shares of Rent-A-Center Inc. (NASDAQ:RCII) in a report issued on Friday morning. They currently have a $13.00 target price on the stock, up from their prior target price of $11.50.
Several other equities research analysts have also recently weighed in on RCII. BidaskClub upgraded Rent-A-Center from a hold rating to a buy rating in a report on Sunday, July 16th. Zacks Investment Research cut Rent-A-Center from a hold rating to a sell rating in a report on Tuesday, July 4th. Loop Capital restated a sell rating and issued a $8.00 target price on shares of Rent-A-Center in a research note on Tuesday, July 18th. Stephens cut Rent-A-Center from an equal weight rating to an underweight rating in a research note on Friday, March 31st. Finally, Northcoast Research upgraded Rent-A-Center from a neutral rating to a buy rating in a research note on Friday, March 31st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Hold and an average price target of $11.00.
Rent-A-Center (RCII) opened at 13.22 on Friday. The firm has a 50-day moving average price of $12.07 and a 200 day moving average price of $10.45. The firm’s market capitalization is $704.51 million. Rent-A-Center has a 52 week low of $7.76 and a 52 week high of $13.43.
Rent-A-Center (NASDAQ:RCII) last released its quarterly earnings data on Wednesday, July 26th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.07 by $0.08. Rent-A-Center had a negative return on equity of 43.47% and a negative net margin of 5.57%. The business had revenue of $667.64 million during the quarter, compared to analysts’ expectations of $667.04 million. During the same quarter last year, the business posted $0.41 EPS. The company’s quarterly revenue was down 10.9% compared to the same quarter last year. On average, equities research analysts forecast that Rent-A-Center will post $0.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Stockholders of record on Monday, July 3rd were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Thursday, June 29th.
In other news, Director Steven L. Pepper bought 45,000 shares of the stock in a transaction dated Tuesday, May 23rd. The stock was bought at an average price of $10.93 per share, for a total transaction of $491,850.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Mark E. Speese bought 100,000 shares of the stock in a transaction dated Wednesday, May 10th. The stock was purchased at an average price of $11.70 per share, with a total value of $1,170,000.00. Following the purchase, the chairman now owns 844,627 shares in the company, valued at $9,882,135.90. The disclosure for this purchase can be found here. Company insiders own 3.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RCII. Texas Permanent School Fund raised its position in Rent-A-Center by 0.8% in the second quarter. Texas Permanent School Fund now owns 38,839 shares of the company’s stock worth $455,000 after buying an additional 324 shares during the period. Municipal Employees Retirement System of Michigan raised its position in Rent-A-Center by 3.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 12,550 shares of the company’s stock worth $147,000 after buying an additional 440 shares during the period. Strs Ohio raised its position in Rent-A-Center by 61,500.0% in the second quarter. Strs Ohio now owns 61,600 shares of the company’s stock worth $721,000 after buying an additional 61,500 shares during the period. Aperio Group LLC raised its position in Rent-A-Center by 11.4% in the second quarter. Aperio Group LLC now owns 39,133 shares of the company’s stock worth $459,000 after buying an additional 4,006 shares during the period. Finally, State of Alaska Department of Revenue raised its position in Rent-A-Center by 77.1% in the second quarter. State of Alaska Department of Revenue now owns 10,448 shares of the company’s stock worth $122,000 after buying an additional 4,548 shares during the period.
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.
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