FirstCash (NASDAQ:FCFS) Stock Price Expected to Rise, TD Cowen Analyst Says

Key Points

• TD Cowen raised FirstCash’s price target from $240 to $242 and maintained a “buy” rating, implying 14.59% upside from the prior close. Analysts overall assign the stock a “Moderate Buy” consensus rating with a $249.75 target.
• FirstCash reported quarterly earnings of $2.50 per share, beating estimates of $2.39, while revenue rose 29.4% year over year to $1.07 billion.
• The stock slipped 0.1% to $211.19 in Tuesday trading. Insiders sold $3.05 million of shares over the past quarter, while institutional investors own 80.30% of the company.

FirstCash (NASDAQ:FCFS - Get Free Report) had its price objective hoisted by stock analysts at TD Cowen from $240.00 to $242.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. TD Cowen's price objective suggests a potential upside of 14.59% from the company's previous close.

A number of other equities analysts have also recently issued reports on the stock. Weiss Ratings cut shares of FirstCash from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, August 21st. Stephens reissued an "overweight" rating and issued a $250.00 target price on shares of FirstCash in a research note on Thursday, October 1st. Loop Capital raised FirstCash from a "hold" rating to a "buy" rating and set a $255.00 price target for the company in a research report on Monday, August 10th. Zacks Research downgraded FirstCash from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Finally, Wall Street Zen raised shares of FirstCash from a "hold" rating to a "buy" rating in a research report on Saturday, September 26th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, FirstCash has a consensus rating of "Moderate Buy" and a consensus target price of $249.75.

FirstCash Trading Down 0.1%

FirstCash stock traded down $0.14 during trading hours on Tuesday, reaching $211.19. The company had a trading volume of 18,859 shares, compared to its average volume of 378,293. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.89 and a quick ratio of 3.51. The company has a 50-day moving average price of $216.00 and a 200 day moving average price of $214.48. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of 24.13 and a beta of 0.55. FirstCash has a 12-month low of $146.77 and a 12-month high of $238.93.

FirstCash (NASDAQ:FCFS - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported $2.50 earnings per share for the quarter, beating analysts' consensus estimates of $2.39 by $0.11. FirstCash had a return on equity of 19.65% and a net margin of 9.42%.The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm posted $1.34 earnings per share. The business's quarterly revenue was up 29.4% compared to the same quarter last year. Equities analysts forecast that FirstCash will post 11.85 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Howard Hambleton sold 2,000 shares of the firm's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $212.98, for a total value of $425,960.00. Following the transaction, the insider directly owned 30,406 shares of the company's stock, valued at approximately $6,475,869.88. This trade represents a 6.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James Graves sold 3,750 shares of FirstCash stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $221.20, for a total value of $829,500.00. Following the transaction, the director owned 11,929 shares in the company, valued at $2,638,694.80. This trade represents a 23.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 14,098 shares of company stock valued at $3,051,281. Company insiders own 2.86% of the company's stock.

Institutional Investors Weigh In On FirstCash

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC purchased a new position in shares of FirstCash during the 1st quarter valued at $26,000. Geneos Wealth Management Inc. purchased a new stake in FirstCash in the 1st quarter worth $29,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in FirstCash in the 2nd quarter worth $34,000. Assetmark Inc. raised its holdings in FirstCash by 113.2% during the first quarter. Assetmark Inc. now owns 194 shares of the company's stock valued at $36,000 after acquiring an additional 103 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its holdings in FirstCash by 531.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 259 shares of the company's stock valued at $41,000 after acquiring an additional 218 shares during the period. Institutional investors own 80.30% of the company's stock.

About FirstCash

FirstCash Holdings, Inc operates pawn stores and related consumer financial services businesses in the United States and Latin America. Its pawn stores provide collateral-based loans to consumers, while also buying and selling secondhand merchandise such as jewelry, electronics, tools, sporting goods and other personal property.

The company serves customers through pawn locations in the United States and Mexico, as well as selected markets in Central and South America. Its operations are designed to provide short-term, non-recourse credit secured by personal property, along with retail opportunities for value-conscious consumers.

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