PROG (NYSE:PRG) Stock Bumped Down to Hold by Zacks Research

Key Points

• Zacks Research downgraded PROG Holdings from “strong buy” to “hold,” although analyst sentiment remains favorable overall with six Buy ratings and four Hold ratings.
• PROG’s average analyst price target is $49.44, compared with a Monday opening price of $31.46; the stock has traded between $25.80 and $47.73 over the past year.
• The company beat quarterly expectations, reporting $1.19 in earnings per share versus the $0.95 consensus estimate and revenue of $719.72 million versus $713.50 million expected.

PROG (NYSE:PRG - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Monday, Zacks reports.

A number of other equities research analysts have also weighed in on the company. Jefferies Financial Group raised PROG from a "hold" rating to a "buy" rating and lifted their target price for the company from $33.00 to $60.00 in a research report on Wednesday, July 8th. B. Riley Financial raised their price target on PROG from $57.00 to $64.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Loop Capital downgraded PROG from a "buy" rating to a "hold" rating and set a $48.00 price objective for the company. in a report on Wednesday, July 1st. Weiss Ratings restated a "hold (c+)" rating on shares of PROG in a report on Monday, September 21st. Finally, Wall Street Zen lowered shares of PROG from a "strong-buy" rating to a "buy" rating in a research note on Sunday, September 6th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $49.44.

PROG Price Performance

Shares of PRG stock opened at $31.46 on Monday. The company has a debt-to-equity ratio of 1.10, a current ratio of 4.03 and a quick ratio of 2.29. The company has a market capitalization of $1.25 billion, a P/E ratio of 8.69 and a beta of 1.76. The company's 50-day simple moving average is $39.51 and its two-hundred day simple moving average is $36.90. PROG has a one year low of $25.80 and a one year high of $47.73.

PROG (NYSE:PRG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The fintech holding company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.24. The firm had revenue of $719.72 million during the quarter, compared to the consensus estimate of $713.50 million. PROG had a net margin of 5.57% and a return on equity of 21.88%. PROG has set its Q3 2026 guidance at 1.000-1.200 EPS and its FY 2026 guidance at 4.750-5.000 EPS. As a group, equities analysts anticipate that PROG will post 4.93 EPS for the current year.

Insider Activity

In other PROG news, insider Michael King sold 1,070 shares of the firm's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $46.00, for a total value of $49,220.00. Following the completion of the sale, the insider owned 60,825 shares of the company's stock, valued at approximately $2,797,950. This trade represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO George M. Sewell sold 2,000 shares of the business's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $45.53, for a total value of $91,060.00. Following the sale, the chief accounting officer owned 28,385 shares in the company, valued at $1,292,369.05. The trade was a 6.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,000 shares of company stock worth $183,060 over the last ninety days. 3.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PROG

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new stake in shares of PROG during the second quarter valued at $34,000. Allworth Financial LP increased its position in shares of PROG by 61.9% in the 2nd quarter. Allworth Financial LP now owns 897 shares of the fintech holding company's stock valued at $42,000 after acquiring an additional 343 shares during the period. Ameritas Advisory Services LLC purchased a new position in PROG in the 2nd quarter worth $44,000. Global Assets Advisory LLC purchased a new position in PROG in the 1st quarter worth $38,000. Finally, GAMMA Investing LLC lifted its position in PROG by 19.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,911 shares of the fintech holding company's stock worth $136,000 after acquiring an additional 468 shares during the period. 97.92% of the stock is owned by hedge funds and other institutional investors.

About PROG

PROG Holdings, Inc is a financial technology company that provides consumer financing and lease-to-own solutions through its Progressive Leasing business. The company helps consumers obtain merchandise from participating retailers through flexible payment arrangements, including customers who may not qualify for traditional credit.

Progressive Leasing supports in-store, online and omnichannel transactions for products such as furniture, appliances, electronics, mattresses, jewelry and other household goods.

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