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 an average price target of $49.44.
• PROG reported quarterly earnings of $1.19 per share, exceeding the $0.95 consensus estimate, and revenue of $719.72 million, slightly above expectations.
• PROG shares opened at $39.37, with a market capitalization of $1.57 billion; insiders sold 4,000 shares worth $183,060 during the last quarter, while institutional investors own 97.92% of the stock.

PROG (NYSE:PRG - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Sunday, Wall Street Zen reports.

A number of other equities analysts also recently weighed in on the stock. KeyCorp raised their target price on shares of PROG from $45.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. Jefferies Financial Group upgraded shares of PROG from a "hold" rating to a "buy" rating and upped their target price for the stock from $33.00 to $60.00 in a research note on Wednesday, July 8th. TD Cowen raised their price target on shares of PROG from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Zacks Research upgraded shares of PROG from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 30th. Finally, Weiss Ratings raised PROG from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $49.44.

PROG Price Performance

NYSE PRG opened at $39.37 on Friday. The company has a market cap of $1.57 billion, a PE ratio of 10.88 and a beta of 1.76. PROG has a 52 week low of $25.80 and a 52 week high of $47.73. The firm's 50-day simple moving average is $42.86 and its two-hundred day simple moving average is $36.85. The company has a quick ratio of 2.29, a current ratio of 4.03 and a debt-to-equity ratio of 1.10.

PROG (NYSE:PRG - Get Free Report) last announced 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 business had revenue of $719.72 million during the quarter, compared to analysts' expectations 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. Research analysts predict that PROG will post 4.95 earnings per share for the current year.

Insider Buying and Selling at PROG

In other news, CAO George M. Sewell sold 2,000 shares of the firm'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 transaction, the chief accounting officer owned 28,385 shares of the company's stock, valued at $1,292,369.05. This trade represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael King sold 1,070 shares of PROG stock in a transaction dated 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 approximately $2,797,950. The trade was a 1.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,000 shares of company stock worth $183,060 over the last quarter. 3.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On PROG

Several large investors have recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. increased its stake in shares of PROG by 2.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,199 shares of the fintech holding company's stock worth $389,000 after purchasing an additional 344 shares in the last quarter. HB Wealth Management LLC lifted its stake in shares of PROG by 1.7% during 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 in the last quarter. GAMMA Investing LLC boosted its holdings in PROG by 19.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,911 shares of the fintech holding company's stock worth $136,000 after buying an additional 468 shares during the period. Quarry LP increased its stake in PROG by 82.8% in the 4th quarter. Quarry LP now owns 1,117 shares of the fintech holding company's stock worth $33,000 after buying an additional 506 shares in the last quarter. Finally, WealthCollab LLC increased its stake in PROG by 28.1% in the 3rd quarter. WealthCollab LLC now owns 2,680 shares of the fintech holding company's stock worth $87,000 after buying an additional 588 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.

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