PROG (NYSE:PRG) Price Target Increased to $35.00 by Analysts at Loop Capital

PROG (NYSE:PRG - Get Free Report) had its price target raised by equities researchers at Loop Capital from $31.00 to $35.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a "hold" rating on the stock. Loop Capital's price objective indicates a potential upside of 0.23% from the stock's current price.

PRG has been the subject of several other reports. TD Cowen increased their price objective on PROG from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday. Stephens upgraded shares of PROG from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, PROG has an average rating of "Moderate Buy" and a consensus target price of $39.60.

PROG Trading Down 2.1 %

Shares of NYSE:PRG traded down $0.74 during midday trading on Thursday, reaching $34.92. The company had a trading volume of 393,344 shares, compared to its average volume of 395,701. The company has a fifty day simple moving average of $32.30 and a two-hundred day simple moving average of $30.70. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.49 and a current ratio of 3.66. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 11.80 and a beta of 2.08. PROG has a 1-year low of $26.39 and a 1-year high of $44.81.

PROG (NYSE:PRG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.83 by $0.08. PROG had a net margin of 5.77% and a return on equity of 28.83%. The business had revenue of $641.87 million during the quarter, compared to the consensus estimate of $632.24 million. Research analysts predict that PROG will post 2.83 earnings per share for the current year.

Hedge Funds Weigh In On PROG

Large investors have recently made changes to their positions in the business. New Mexico Educational Retirement Board acquired a new position in shares of PROG during the first quarter worth approximately $482,000. Guidance Capital Inc. bought a new stake in PROG in the 1st quarter valued at $461,000. DGS Capital Management LLC grew its position in PROG by 11.9% in the 1st quarter. DGS Capital Management LLC now owns 46,398 shares of the company's stock worth $1,598,000 after purchasing an additional 4,920 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of PROG during the 4th quarter worth about $363,000. Finally, Vanguard Group Inc. raised its position in shares of PROG by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 5,638,231 shares of the company's stock valued at $174,278,000 after buying an additional 105,101 shares during the last quarter. Institutional investors and hedge funds own 97.92% of the company's stock.

PROG Company Profile

PROG Holdings, Inc NYSE: PRG is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.