FirstCash (NYSE:FCFS) Stock Rating Lowered by Zacks Investment Research

FirstCash (NYSE:FCFS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “FirstCash Inc. is an operator of pawn stores. The company focuses on serving cash and credit constrained consumers through its retail pawn locations, which buy and sell jewelry, consumer electronics, power tools, household appliances, sporting goods, musical instruments and other merchandise. It operates primarily in the U.S., Mexico, Guatemala and El Salvador. FirstCash, Inc., formerly known as First Cash Financial Services Inc., is based in Arlington, United States. “

A number of other research firms also recently commented on FCFS. Barclays reiterated a “hold” rating and issued a $23.00 target price on shares of Cypress Semiconductor in a report on Thursday, June 6th. JMP Securities dropped their target price on shares of Tesla from $374.00 to $369.00 and set a “market outperform” rating on the stock in a report on Thursday, April 25th. Finally, Jefferies Financial Group set a €110.00 ($127.91) target price on shares of Airbus and gave the stock a “buy” rating in a report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $106.00.

Shares of FCFS stock traded down $0.86 during midday trading on Tuesday, reaching $101.47. 203,228 shares of the company were exchanged, compared to its average volume of 206,501. FirstCash has a 12 month low of $66.28 and a 12 month high of $103.83. The business has a 50 day simple moving average of $98.28.

FirstCash (NYSE:FCFS) last released its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The company had revenue of $467.60 million for the quarter, compared to the consensus estimate of $453.90 million. During the same quarter last year, the firm posted $0.90 earnings per share. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year.

In related news, CFO R Douglas Orr sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $96.94, for a total value of $727,050.00. Following the sale, the chief financial officer now directly owns 142,500 shares in the company, valued at approximately $13,813,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.83% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. OppenheimerFunds Inc. raised its holdings in shares of FirstCash by 1.2% during the first quarter. OppenheimerFunds Inc. now owns 11,636 shares of the credit services provider’s stock valued at $1,007,000 after acquiring an additional 137 shares during the period. Bank of Montreal Can grew its position in FirstCash by 1.8% during the first quarter. Bank of Montreal Can now owns 9,516 shares of the credit services provider’s stock valued at $823,000 after purchasing an additional 170 shares in the last quarter. Connable Office Inc. grew its position in FirstCash by 3.4% during the first quarter. Connable Office Inc. now owns 6,031 shares of the credit services provider’s stock valued at $522,000 after purchasing an additional 201 shares in the last quarter. Zions Bancorporation N.A. grew its position in FirstCash by 6.0% during the second quarter. Zions Bancorporation N.A. now owns 3,769 shares of the credit services provider’s stock valued at $377,000 after purchasing an additional 214 shares in the last quarter. Finally, One Wealth Advisors LLC grew its position in FirstCash by 7.4% during the fourth quarter. One Wealth Advisors LLC now owns 3,423 shares of the credit services provider’s stock valued at $248,000 after purchasing an additional 236 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

About FirstCash

FirstCash, Inc operates retail-based pawn and consumer finance stores in the United States and Mexico. Its pawn stores lend money on the collateral of pledged personal property, including consumer electronics, jewelry, power tools, household appliances, sporting goods, and musical instruments; and retails previously owned merchandise acquired through pawn forfeitures, as well as through purchases from the general public.

See Also: Compound Annual Growth Rate (CAGR)

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