FirstCash (NASDAQ:FCFS) Price Target Raised to $240.00 at TD Cowen

Key Points

• TD Cowen raised its price target on FirstCash to $240 from $235 and kept a buy rating, implying about 8.9% upside from the current price.
• FirstCash shares were down 1.7% to $220.43 in Tuesday trading, even as the stock has ranged between a 12-month low of $119.21 and high of $235.97.
• The company recently reported strong quarterly results, with EPS of $2.69 beating estimates and revenue of $1.05 billion topping forecasts, while revenue rose 25.7% year over year.

FirstCash (NASDAQ:FCFS - Get Free Report) had its target price raised by analysts at TD Cowen from $235.00 to $240.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. TD Cowen's price objective points to a potential upside of 8.88% from the stock's current price.

Several other equities research analysts have also commented on the stock. Wall Street Zen lowered shares of FirstCash from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Weiss Ratings downgraded FirstCash from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Monday, April 27th. Canaccord Genuity Group increased their target price on shares of FirstCash from $242.00 to $252.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Finally, Zacks Research downgraded FirstCash from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $199.25.

FirstCash Trading Down 1.7%

FirstCash stock traded down $3.86 during trading hours on Tuesday, reaching $220.43. The company had a trading volume of 98,505 shares, compared to its average volume of 359,928. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 27.62 and a beta of 0.53. FirstCash has a 12-month low of $119.21 and a 12-month high of $235.97. The company has a debt-to-equity ratio of 0.98, a current ratio of 4.77 and a quick ratio of 3.42. The company has a 50-day moving average price of $222.71 and a 200 day moving average price of $196.30.

FirstCash (NASDAQ:FCFS - Get Free Report) last posted its earnings results on Thursday, April 23rd. The company reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.39. The company had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1 billion. FirstCash had a return on equity of 18.68% and a net margin of 9.15%.FirstCash's quarterly revenue was up 25.7% on a year-over-year basis. During the same period last year, the firm earned $2.07 earnings per share. Equities analysts forecast that FirstCash will post 11.3 earnings per share for the current year.

Insider Activity

In other news, CFO R Douglas Orr sold 2,000 shares of FirstCash stock in a transaction on Monday, May 18th. The stock was sold at an average price of $227.29, for a total value of $454,580.00. Following the transaction, the chief financial officer directly owned 35,734 shares in the company, valued at approximately $8,121,980.86. This trade represents a 5.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Thomas Brent Stuart sold 10,000 shares of the business's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $228.49, for a total value of $2,284,900.00. Following the transaction, the chief operating officer owned 140,846 shares in the company, valued at approximately $32,181,902.54. This trade represents a 6.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 27,500 shares of company stock worth $6,243,104 in the last 90 days. Company insiders own 2.86% of the company's stock.

Institutional Trading of FirstCash

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Eastern Bank raised its position in FirstCash by 1,549.4% during the second quarter. Eastern Bank now owns 1,435 shares of the company's stock worth $310,000 after acquiring an additional 1,348 shares during the period. Pacer Advisors Inc. increased its stake in shares of FirstCash by 27.8% in the 1st quarter. Pacer Advisors Inc. now owns 5,941 shares of the company's stock worth $1,117,000 after acquiring an additional 1,294 shares during the last quarter. PVG Asset Management Corp raised its stake in FirstCash by 514.6% during the first quarter. PVG Asset Management Corp now owns 11,019 shares of the company's stock worth $2,072,000 after purchasing an additional 9,226 shares during the period. Wellington Grp LLC lifted its position in FirstCash by 43,752.4% in the first quarter. Wellington Grp LLC now owns 9,209 shares of the company's stock valued at $1,731,000 after buying an additional 9,188 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of FirstCash by 20.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,137 shares of the company's stock valued at $402,000 after acquiring an additional 362 shares during the period. 80.30% of the stock is owned by institutional investors and hedge funds.

FirstCash Company Profile

FirstCash, Inc NASDAQ: FCFS is a leading integrated operator of pawn stores and provider of short-term consumer loan services in the United States and Mexico. Through its retail pawn outlets, FirstCash offers collateral-based loans secured by personal property, enabling customers to access liquidity without a credit history or traditional bank account. The company also purchases, trades and sells a broad range of secondhand merchandise, including electronics, jewelry and power tools, through its network of conveniently located stores.

In addition to its pawn-broking activities, FirstCash provides unsecured consumer loans designed to meet urgent cash needs.

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