PROG (NYSE:PRG) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded PROG from “strong buy” to “buy,” while the broader analyst consensus remains “Moderate Buy” with a $49.44 target price.
• PROG shares opened at $39.19, below their 50-day moving average of $43.19. The company recently exceeded quarterly earnings expectations, reporting $1.19 EPS versus the $0.95 consensus and revenue of $719.72 million.
• Institutional investors hold 97.92% of PROG’s shares, with several major funds increasing their positions; however, insiders sold 4,000 shares worth $183,060 over the past 90 days.

PROG (NYSE:PRG - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Saturday.

Several other equities analysts have also weighed in on PRG. B. Riley Financial increased their price target on shares of PROG from $57.00 to $64.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. TD Cowen upped their price target on shares of PROG from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. KeyCorp boosted their price target on shares of PROG from $45.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday, July 30th. Weiss Ratings upgraded PROG from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, June 24th. Finally, Loop Capital cut shares of PROG from a "buy" rating to a "hold" rating and set a $48.00 target price on the stock. in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, PROG currently has an average rating of "Moderate Buy" and a consensus target price of $49.44.

PROG Trading Down 1.2%

Shares of PROG stock opened at $39.19 on Friday. The firm's 50 day moving average is $43.19 and its 200 day moving average is $36.70. The firm has a market capitalization of $1.56 billion, a PE ratio of 10.83 and a beta of 1.79. The company has a current ratio of 4.03, a quick ratio of 2.29 and a debt-to-equity ratio of 1.10. PROG has a 1 year low of $25.80 and a 1 year high of $47.73.

PROG (NYSE:PRG - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The fintech holding company reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.24. The firm had revenue of $719.72 million for the quarter, compared to analyst estimates of $713.50 million. PROG had a return on equity of 21.88% and a net margin of 5.57%.PROG has set its Q3 2026 guidance at 1.000-1.200 EPS and its FY 2026 guidance at 4.750-5.000 EPS. Equities research analysts forecast that PROG will post 4.95 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of PROG

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its position in PROG by 4,444.7% during the 2nd quarter. California State Teachers Retirement System now owns 2,254,199 shares of the fintech holding company's stock valued at $105,068,000 after purchasing an additional 2,204,598 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of PROG by 436.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,824,091 shares of the fintech holding company's stock worth $53,792,000 after purchasing an additional 1,483,751 shares during the period. State Street Corp lifted its position in shares of PROG by 5.6% in the 4th quarter. State Street Corp now owns 1,679,355 shares of the fintech holding company's stock worth $49,524,000 after purchasing an additional 89,035 shares during the period. LSV Asset Management boosted its stake in shares of PROG by 37.7% during the 4th quarter. LSV Asset Management now owns 1,159,874 shares of the fintech holding company's stock valued at $34,205,000 after purchasing an additional 317,600 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of PROG by 588.0% during the 1st quarter. First Trust Advisors LP now owns 840,029 shares of the fintech holding company's stock valued at $24,100,000 after purchasing an additional 717,932 shares in the last quarter. Hedge funds and other institutional investors own 97.92% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source