FirstCash Inc (FCFS) Rating Lowered to Hold at Zacks Investment Research
FirstCash Inc (NASDAQ:FCFS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
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. “
Several other research firms also recently commented on FCFS. JMP Securities lifted their price objective on FirstCash and gave the stock an “outperform” rating in a report on Friday, July 28th. Jefferies Group LLC set a $69.00 price objective on FirstCash and gave the stock a “buy” rating in a report on Friday, August 18th. BidaskClub upgraded FirstCash from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Janney Montgomery Scott downgraded FirstCash from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $58.55 to $58.00 in a report on Monday, July 17th. Finally, Stephens lifted their price objective on FirstCash from $51.00 to $62.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 21st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $59.14.
Shares of FirstCash (FCFS) opened at 58.70 on Wednesday. The stock has a 50 day moving average price of $58.65 and a 200 day moving average price of $52.73. FirstCash has a 52 week low of $39.80 and a 52 week high of $60.75. The firm has a market cap of $2.80 billion, a PE ratio of 31.78 and a beta of 0.90.
FirstCash (NASDAQ:FCFS) last released its quarterly earnings data on Thursday, July 27th. The credit services provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.05. The firm had revenue of $416.60 million for the quarter, compared to the consensus estimate of $410.65 million. FirstCash had a return on equity of 4.10% and a net margin of 3.66%. The company’s quarterly revenue was up 128.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 earnings per share. Equities analysts expect that FirstCash will post $2.66 earnings per share for the current year.
FirstCash declared that its Board of Directors has initiated a share repurchase plan on Monday, May 15th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the credit services provider to reacquire up to 4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
In related news, CFO R Douglas Orr sold 7,500 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $55.00, for a total transaction of $412,500.00. The sale was disclosed in a filing with the SEC, which is accessible through this link.
A number of hedge funds and other institutional investors have recently made changes to their positions in FCFS. Chevy Chase Trust Holdings Inc. increased its position in shares of FirstCash by 0.3% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 4,394 shares of the credit services provider’s stock worth $256,000 after buying an additional 12 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in FirstCash by 1.2% in the second quarter. Ameritas Investment Partners Inc. now owns 4,160 shares of the credit services provider’s stock valued at $242,000 after buying an additional 50 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in FirstCash by 0.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 32,077 shares of the credit services provider’s stock valued at $1,870,000 after buying an additional 83 shares during the last quarter. HL Financial Services LLC boosted its stake in FirstCash by 2.2% in the second quarter. HL Financial Services LLC now owns 4,237 shares of the credit services provider’s stock valued at $247,000 after buying an additional 91 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in FirstCash by 0.3% in the second quarter. Nisa Investment Advisors LLC now owns 29,848 shares of the credit services provider’s stock valued at $1,740,000 after buying an additional 100 shares during the last quarter.
FirstCash Company Profile
FirstCash, Inc, formerly First Cash Financial Services, Inc, is an operator of retail-based pawn stores in the United States and Latin America. The Company’s primary business is the operation of full-service pawn stores, which make small pawn loans secured by personal property, such as consumer electronics, jewelry, power tools, household appliances, sporting goods and musical instruments.
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