A number of other equities research analysts also recently weighed in on RCII. KeyCorp restated a hold rating on shares of Rent-A-Center in a research report on Wednesday, April 8th. Stephens upgraded Rent-A-Center from an equal weight rating to an overweight rating and upped their target price for the stock from $23.00 to $33.00 in a research report on Thursday, May 14th. Stifel Nicolaus upped their target price on Rent-A-Center from $19.00 to $29.00 and gave the stock a buy rating in a research report on Friday, May 8th. Raymond James dropped their price target on Rent-A-Center from $31.00 to $28.00 and set a strong-buy rating on the stock in a report on Friday, May 8th. Finally, ValuEngine raised Rent-A-Center from a strong sell rating to a sell rating in a report on Monday, March 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Rent-A-Center has an average rating of Buy and a consensus target price of $29.40.
Shares of NASDAQ RCII opened at $26.68 on Wednesday. The company has a current ratio of 3.25, a quick ratio of 0.93 and a debt-to-equity ratio of 1.33. The stock has a 50 day simple moving average of $25.79 and a 200-day simple moving average of $23.80. The company has a market cap of $1.43 billion, a PE ratio of 6.91 and a beta of 1.55. Rent-A-Center has a 12-month low of $11.69 and a 12-month high of $31.14.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Friday, July 10th will be issued a $0.29 dividend. The ex-dividend date is Thursday, July 9th. This represents a $1.16 annualized dividend and a dividend yield of 4.35%. Rent-A-Center’s dividend payout ratio is currently 51.79%.
In other news, Director Christopher B. Hetrick bought 8,725 shares of the business’s stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $23.80 per share, with a total value of $207,655.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at $119,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jeffrey J. Brown bought 20,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were purchased at an average cost of $23.01 per share, for a total transaction of $460,200.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at $460,200. The disclosure for this purchase can be found here. 0.81% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in RCII. Mutual of America Capital Management LLC raised its stake in Rent-A-Center by 25.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 2,187 shares of the company’s stock valued at $31,000 after purchasing an additional 445 shares during the period. Contravisory Investment Management Inc. acquired a new stake in Rent-A-Center during the 1st quarter valued at $70,000. Meeder Asset Management Inc. raised its stake in Rent-A-Center by 5,236.2% during the 4th quarter. Meeder Asset Management Inc. now owns 3,095 shares of the company’s stock valued at $89,000 after purchasing an additional 3,037 shares during the period. US Bancorp DE raised its stake in Rent-A-Center by 289.7% during the 1st quarter. US Bancorp DE now owns 7,248 shares of the company’s stock valued at $102,000 after purchasing an additional 5,388 shares during the period. Finally, Macquarie Group Ltd. acquired a new stake in Rent-A-Center during the 4th quarter valued at $115,000. 98.13% of the stock is currently owned by institutional investors.
Rent-A-Center Company Profile
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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