Analysts Set Rent-A-Center Inc (NASDAQ:RCII) Price Target at $21.80

Rent-A-Center Inc (NASDAQ:RCII) has been given a consensus rating of “Buy” by the eight ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $22.75.

A number of research firms have recently weighed in on RCII. Janney Montgomery Scott upgraded shares of Rent-A-Center from a “neutral” rating to a “buy” rating in a report on Thursday, August 8th. Raymond James upgraded shares of Rent-A-Center from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $25.00 to $27.00 in a report on Monday, April 22nd. TheStreet upgraded shares of Rent-A-Center from a “c” rating to a “b-” rating in a report on Tuesday, May 7th. Stephens upgraded shares of Rent-A-Center from an “underweight” rating to an “equal” rating and set a $27.00 target price on the stock in a report on Monday, June 24th. Finally, BidaskClub upgraded shares of Rent-A-Center from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd.

In related news, EVP Catherine M. Skula sold 5,000 shares of Rent-A-Center stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $24.45, for a total transaction of $122,250.00. Following the completion of the transaction, the executive vice president now directly owns 32,090 shares of the company’s stock, valued at approximately $784,600.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.81% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley lifted its position in shares of Rent-A-Center by 98.5% in the 2nd quarter. Morgan Stanley now owns 1,376,219 shares of the company’s stock worth $36,649,000 after purchasing an additional 682,982 shares during the period. Alberta Investment Management Corp lifted its position in shares of Rent-A-Center by 27.9% in the 2nd quarter. Alberta Investment Management Corp now owns 46,800 shares of the company’s stock worth $1,246,000 after purchasing an additional 10,200 shares during the period. Cloverdale Capital Management LLC lifted its position in shares of Rent-A-Center by 33.7% in the 2nd quarter. Cloverdale Capital Management LLC now owns 989,606 shares of the company’s stock worth $26,353,000 after purchasing an additional 249,611 shares during the period. AQR Capital Management LLC lifted its position in shares of Rent-A-Center by 94.8% in the 2nd quarter. AQR Capital Management LLC now owns 97,765 shares of the company’s stock worth $2,603,000 after purchasing an additional 47,565 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Rent-A-Center by 568.7% in the 2nd quarter. Bank of America Corp DE now owns 266,535 shares of the company’s stock worth $7,098,000 after purchasing an additional 226,676 shares during the period. 97.39% of the stock is owned by hedge funds and other institutional investors.

Shares of Rent-A-Center stock traded down $0.01 during trading hours on Wednesday, reaching $27.30. The company’s stock had a trading volume of 867,900 shares, compared to its average volume of 1,298,135. The business’s 50 day simple moving average is $26.75. Rent-A-Center has a one year low of $11.98 and a one year high of $28.25. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.82 and a current ratio of 2.55. The stock has a market cap of $1.49 billion, a PE ratio of 25.75 and a beta of 0.43.

Rent-A-Center (NASDAQ:RCII) last posted its earnings results on Wednesday, August 7th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Rent-A-Center had a net margin of 4.40% and a return on equity of 32.63%. The firm had revenue of $655.90 million for the quarter, compared to the consensus estimate of $642.86 million. During the same period in the previous year, the firm posted $0.47 EPS. The business’s quarterly revenue was up .0% on a year-over-year basis. Research analysts anticipate that Rent-A-Center will post 2.24 earnings per share for the current fiscal year.

About Rent-A-Center

Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a rent-to-own basis. The company operates through four segments: Core U.S., Acceptance Now, Mexico, and Franchising. It offers durable products, such as consumer electronics; appliances; computers, including tablets; smartphones; wheels and tires; and furniture, including accessories under rental purchase agreements.

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