PROG (NYSE:PRG – Get Free Report) had its price target hoisted by Loop Capital from $35.00 to $41.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Loop Capital’s target price indicates a potential downside of 1.73% from the company’s current price.
Several other research analysts have also commented on the company. TD Cowen lifted their price target on PROG from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. BTIG Research started coverage on PROG in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $40.80.
Get Our Latest Analysis on PRG
PROG Price Performance
PROG (NYSE:PRG – Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.22. PROG had a net margin of 4.71% and a return on equity of 26.67%. The company had revenue of $592.16 million for the quarter, compared to the consensus estimate of $573.23 million. During the same quarter in the prior year, the firm earned $0.92 earnings per share. PROG’s revenue was down .1% on a year-over-year basis. On average, equities analysts predict that PROG will post 2.98 earnings per share for the current year.
Hedge Funds Weigh In On PROG
A number of large investors have recently bought and sold shares of PRG. Norges Bank purchased a new stake in shares of PROG during the fourth quarter valued at $12,666,000. Breach Inlet Capital Management LLC bought a new stake in shares of PROG during the fourth quarter valued at approximately $12,572,000. SG Capital Management LLC purchased a new stake in shares of PROG in the first quarter valued at approximately $5,932,000. Assenagon Asset Management S.A. boosted its holdings in shares of PROG by 719.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 178,859 shares of the company’s stock valued at $5,529,000 after purchasing an additional 157,024 shares during the period. Finally, Jupiter Asset Management Ltd. grew its stake in PROG by 83.6% in the first quarter. Jupiter Asset Management Ltd. now owns 260,713 shares of the company’s stock worth $8,979,000 after purchasing an additional 118,698 shares in the last quarter. Hedge funds and other institutional investors own 97.92% of the company’s stock.
PROG Company Profile
PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.
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