PROG (NYSE:PRG) Downgraded by Zacks Research to Hold

PROG (NYSE:PRG - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Monday, April 20th,Zacks.com reports.

A number of other research firms also recently commented on PRG. Weiss Ratings restated a "hold (c)" rating on shares of PROG in a report on Thursday, January 22nd. Wall Street Zen upgraded PROG from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. Finally, TD Cowen increased their price target on PROG from $42.00 to $43.00 and gave the company a "buy" rating in a report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.88.

PROG Trading Down 1.8%

Shares of PRG stock traded down $0.64 on Monday, reaching $35.21. 155,891 shares of the stock were exchanged, compared to its average volume of 507,783. The stock has a market cap of $1.39 billion, a P/E ratio of 9.78 and a beta of 1.81. The company has a quick ratio of 2.32, a current ratio of 4.71 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average of $31.25 and a two-hundred day moving average of $30.92. PROG has a 1-year low of $25.80 and a 1-year high of $41.14.

PROG (NYSE:PRG - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The fintech holding company reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.46. The business had revenue of $742.67 million during the quarter, compared to the consensus estimate of $726.96 million. PROG had a return on equity of 20.99% and a net margin of 5.97%.The business's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 EPS. PROG has set its Q2 2026 guidance at 1.050-1.050 EPS. On average, research analysts anticipate that PROG will post 4.21 EPS for the current year.

Hedge Funds Weigh In On PROG

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. DGS Capital Management LLC boosted its position in PROG by 4.8% in the 1st quarter. DGS Capital Management LLC now owns 113,097 shares of the fintech holding company's stock valued at $3,245,000 after buying an additional 5,171 shares during the last quarter. HB Wealth Management LLC boosted its position in PROG by 1.7% in the 1st quarter. HB Wealth Management LLC now owns 21,470 shares of the fintech holding company's stock valued at $616,000 after buying an additional 359 shares during the last quarter. Moran Wealth Management LLC boosted its position in PROG by 28.2% in the 1st quarter. Moran Wealth Management LLC now owns 159,334 shares of the fintech holding company's stock valued at $4,571,000 after buying an additional 35,013 shares during the last quarter. Strs Ohio purchased a new position in PROG in the 1st quarter valued at about $129,000. Finally, MQS Management LLC boosted its position in PROG by 11.2% in the 1st quarter. MQS Management LLC now owns 7,902 shares of the fintech holding company's stock valued at $227,000 after buying an additional 797 shares during the last quarter. 97.92% of the stock is owned by hedge funds and other institutional investors.

About PROG

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.