Zacks Research Downgrades PROG (NYSE:PRG) to Hold

PROG (NYSE:PRG) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. TD Cowen upped their target price on shares of PROG from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Wall Street Zen lowered shares of PROG from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. B. Riley Financial reissued a “buy” rating on shares of PROG in a report on Thursday, April 30th. Raymond James Financial restated an “outperform” rating and issued a $45.00 price objective on shares of PROG in a research report on Thursday, April 30th. Finally, Loop Capital lowered PROG from a “buy” rating to a “hold” rating in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.70.

PROG Price Performance

Shares of PRG opened at $46.72 on Monday. The company has a current ratio of 4.27, a quick ratio of 2.41 and a debt-to-equity ratio of 1.21. PROG has a 1 year low of $25.80 and a 1 year high of $47.60. The stock has a market cap of $1.87 billion, a P/E ratio of 12.77 and a beta of 1.82. The stock’s 50-day moving average price is $36.18 and its two-hundred day moving average price is $33.18.

PROG (NYSE:PRG) last announced its quarterly earnings results on Wednesday, April 29th. The fintech holding company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.46. The company had revenue of $742.67 million during the quarter, compared to analysts’ expectations of $732.70 million. PROG had a return on equity of 21.94% and a net margin of 5.88%.PROG’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 EPS. PROG has set its Q2 2026 guidance at 1.050-1.050 EPS. On average, equities analysts predict that PROG will post 4.7 earnings per share for the current year.

Institutional Investors Weigh In On PROG

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in PROG by 23.4% in the 1st quarter. Royal Bank of Canada now owns 35,910 shares of the fintech holding company’s stock worth $955,000 after purchasing an additional 6,807 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of PROG by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,363 shares of the fintech holding company’s stock valued at $648,000 after purchasing an additional 1,162 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of PROG by 62.7% in the first quarter. Millennium Management LLC now owns 673,405 shares of the fintech holding company’s stock valued at $17,913,000 after purchasing an additional 259,630 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of PROG by 5.4% during the first quarter. Goldman Sachs Group Inc. now owns 313,611 shares of the fintech holding company’s stock worth $8,342,000 after buying an additional 16,126 shares during the period. Finally, Caxton Associates LLP acquired a new position in shares of PROG during the first quarter worth about $233,000. 97.92% of the stock is currently owned by institutional investors and hedge funds.

PROG Company Profile

PROG Holdings, Inc, formerly known as Aaron’s, is a North American provider of lease-to-own and consumer finance solutions. The company operates through two primary segments: Aaron’s Business Solutions and Progressive Financial Services. Through Aaron’s Business Solutions, PROG offers customers access to furniture, electronics, home appliances and technology products via lease ownership arrangements, serving both individual consumers and small businesses.

The Progressive Financial Services segment provides lease-purchase and retail point-of-sale financing programs to customers with limited credit histories.