FirstCash's (FCFS) Buy Rating Reaffirmed at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group reaffirmed a buy rating for FirstCash (NASDAQ:FCFS) with a $200.00 price target, indicating a potential upside of 29.08% from its current price.
• FirstCash recently reported an earnings per share (EPS) of $1.79 for the last quarter, exceeding analysts' expectations of $1.66, with revenue coming in at $830.62 million.
• The stock has seen varied ratings from different analysts, with an average consensus rating of "Buy" and a target price of $154.40.

FirstCash (NASDAQ:FCFS - Get Free Report)'s stock had its "buy" rating restated by research analysts at Canaccord Genuity Group in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $200.00 price objective on the stock. Canaccord Genuity Group's price target suggests a potential upside of 29.08% from the stock's current price.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen raised shares of FirstCash from a "hold" rating to a "buy" rating in a report on Saturday. Weiss Ratings restated a "buy (b)" rating on shares of FirstCash in a research note on Saturday, September 27th. Capital One Financial set a $160.00 price objective on shares of FirstCash in a research note on Tuesday, August 5th. Loop Capital downgraded FirstCash from a "buy" rating to a "hold" rating and set a $145.00 target price on the stock. in a research report on Friday, September 5th. Finally, Jefferies Financial Group upgraded FirstCash to a "strong-buy" rating in a research report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $154.40.

FirstCash Stock Performance

FCFS traded up $3.16 during midday trading on Monday, reaching $154.95. The company had a trading volume of 32,200 shares, compared to its average volume of 306,537. FirstCash has a 12-month low of $100.24 and a 12-month high of $158.93. The business has a 50-day moving average price of $143.44 and a two-hundred day moving average price of $133.35. The stock has a market cap of $6.87 billion, a PE ratio of 23.80 and a beta of 0.69. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.12 and a current ratio of 4.21.

FirstCash (NASDAQ:FCFS - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.66 by $0.13. FirstCash had a return on equity of 16.63% and a net margin of 8.61%.The business had revenue of $830.62 million for the quarter, compared to the consensus estimate of $820.42 million. During the same quarter in the prior year, the business earned $1.37 earnings per share. FirstCash's revenue for the quarter was up .0% on a year-over-year basis. On average, sell-side analysts expect that FirstCash will post 7.7 earnings per share for the current fiscal year.

Insider Transactions at FirstCash

In related news, Director James H. Graves sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $134.56, for a total transaction of $807,360.00. Following the transaction, the director directly owned 15,846 shares in the company, valued at $2,132,237.76. This trade represents a 27.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO R Douglas Orr sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $148.41, for a total value of $445,230.00. Following the completion of the sale, the chief financial officer owned 97,567 shares of the company's stock, valued at $14,479,918.47. The trade was a 2.98% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,500 shares of company stock worth $15,493,610. Company insiders own 14.77% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in FirstCash during the 2nd quarter valued at $25,000. Farther Finance Advisors LLC raised its stake in shares of FirstCash by 808.0% during the first quarter. Farther Finance Advisors LLC now owns 227 shares of the company's stock valued at $27,000 after acquiring an additional 202 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of FirstCash by 181.6% during the second quarter. IFP Advisors Inc now owns 290 shares of the company's stock worth $39,000 after purchasing an additional 187 shares during the period. CX Institutional bought a new stake in shares of FirstCash in the first quarter worth about $42,000. Finally, UMB Bank n.a. increased its holdings in FirstCash by 167.5% during the 1st quarter. UMB Bank n.a. now owns 452 shares of the company's stock valued at $54,000 after purchasing an additional 283 shares during the period. 80.30% of the stock is owned by hedge funds and other institutional investors.

About FirstCash

FirstCash Holdings, Inc, together with its subsidiaries, operates retail pawn stores in the United States, Mexico, and rest of Latin America. The company operates in three segments: U.S. Pawn, Latin America Pawn, and Retail POS Payment Solutions segments. Its pawn stores lend money on the collateral of pledged personal property, including jewelry, electronics, tools, appliances, sporting goods, and musical instruments; and retails merchandise acquired through collateral forfeitures on forfeited pawn loans and over-the-counter purchases of merchandise directly from customers.

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