PROG (NYSE:PRG) Upgraded to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded PROG Holdings from “hold” to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $49.44.
• PROG reported quarterly EPS of $1.19, exceeding the $0.95 consensus estimate, and revenue of $719.72 million, slightly above expectations. The company guided for fiscal 2026 EPS of $4.75–$5.00.
• Shares opened at $43.88 and have risen 2.1%; institutional investors own approximately 97.92% of the stock, with several major firms recently increasing their positions.

PROG (NYSE:PRG - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Thursday,Zacks.com reports.

PRG has been the topic of several other reports. Wall Street Zen raised shares of PROG from a "buy" rating to a "strong-buy" rating in a report on Saturday. TD Cowen boosted their target price on shares of PROG from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Weiss Ratings upgraded shares of PROG from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, June 24th. KeyCorp upped their price target on shares of PROG from $45.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $45.00 price target on shares of PROG in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $49.44.

PROG Stock Up 2.1%

PROG stock opened at $43.88 on Thursday. The company has a debt-to-equity ratio of 1.10, a current ratio of 4.03 and a quick ratio of 2.41. The stock has a market capitalization of $1.76 billion, a PE ratio of 12.12 and a beta of 1.78. The business has a 50 day simple moving average of $41.19 and a 200-day simple moving average of $35.44. PROG has a 12 month low of $25.80 and a 12 month high of $47.73.

PROG (NYSE:PRG - Get Free Report) last announced its earnings results on Wednesday, July 29th. The fintech holding company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.24. PROG had a return on equity of 21.88% and a net margin of 5.57%.The firm had revenue of $719.72 million for the quarter, compared to analyst estimates of $713.50 million. PROG has set its Q3 2026 guidance at 1.000-1.200 EPS and its FY 2026 guidance at 4.750-5.000 EPS. On average, analysts anticipate that PROG will post 4.99 EPS for the current fiscal year.

Institutional Investors Weigh In On PROG

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP grew its position in shares of PROG by 588.0% in the first 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. SG Americas Securities LLC increased its holdings in shares of PROG by 113.5% in the fourth quarter. SG Americas Securities LLC now owns 40,807 shares of the fintech holding company's stock valued at $1,203,000 after purchasing an additional 21,698 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of PROG by 30.0% in the first quarter. Bank of New York Mellon Corp now owns 612,601 shares of the fintech holding company's stock valued at $17,576,000 after purchasing an additional 141,221 shares during the last quarter. Dean Capital Management lifted its position in PROG by 310.2% during the first quarter. Dean Capital Management now owns 57,368 shares of the fintech holding company's stock worth $1,646,000 after buying an additional 43,384 shares in the last quarter. Finally, Moran Wealth Management LLC lifted its position in PROG by 91.2% during the fourth quarter. Moran Wealth Management LLC now owns 124,321 shares of the fintech holding company's stock worth $3,666,000 after buying an additional 59,297 shares in the last quarter. Institutional investors and hedge funds 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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