Brokerages Set Upbound Group, Inc. (NASDAQ:UPBD) Price Target at $39.40

Upbound Group, Inc. (NASDAQ:UPBD) has earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $39.40.

Several research analysts recently commented on the stock. Loop Capital reduced their price target on shares of Upbound Group from $36.00 to $33.00 and set a “hold” rating on the stock in a research note on Friday. Jefferies Financial Group dropped their target price on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Tuesday, October 1st.

Upbound Group Stock Up 2.1 %

Shares of UPBD stock opened at $30.07 on Friday. Upbound Group has a 12 month low of $26.50 and a 12 month high of $38.72. The stock has a market cap of $1.64 billion, a P/E ratio of 20.74 and a beta of 2.01. The company has a current ratio of 3.96, a quick ratio of 0.84 and a debt-to-equity ratio of 2.02. The company has a 50 day simple moving average of $30.19 and a two-hundred day simple moving average of $31.43.

Upbound Group (NASDAQ:UPBD) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the business posted $0.79 earnings per share. The company’s revenue was up 9.2% on a year-over-year basis. On average, research analysts expect that Upbound Group will post 3.67 earnings per share for the current year.

Upbound Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.48 annualized dividend and a yield of 4.92%. Upbound Group’s dividend payout ratio (DPR) is presently 102.07%.

Insider Activity at Upbound Group

In related news, Director Jeffrey J. Brown bought 1,065 shares of the stock in a transaction on Tuesday, October 22nd. The stock was bought at an average price of $29.25 per share, with a total value of $31,151.25. Following the completion of the purchase, the director now directly owns 85,234 shares in the company, valued at $2,493,094.50. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Jeffrey J. Brown bought 1,065 shares of Upbound Group stock in a transaction that occurred on Tuesday, October 22nd. The shares were purchased at an average price of $29.25 per share, with a total value of $31,151.25. Following the completion of the acquisition, the director now directly owns 85,234 shares in the company, valued at $2,493,094.50. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Transient C. Taylor sold 15,127 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $34.00, for a total transaction of $514,318.00. Following the completion of the sale, the executive vice president now directly owns 14,651 shares in the company, valued at approximately $498,134. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Upbound Group

Hedge funds have recently modified their holdings of the business. Ieq Capital LLC raised its stake in shares of Upbound Group by 112.7% during the 2nd quarter. Ieq Capital LLC now owns 4,827,021 shares of the company’s stock worth $148,190,000 after buying an additional 2,557,906 shares during the last quarter. LSV Asset Management raised its stake in Upbound Group by 43.0% in the 1st quarter. LSV Asset Management now owns 1,693,695 shares of the company’s stock valued at $59,635,000 after purchasing an additional 509,343 shares during the last quarter. Marshall Wace LLP grew its holdings in Upbound Group by 1,903.6% in the 2nd quarter. Marshall Wace LLP now owns 395,888 shares of the company’s stock valued at $12,154,000 after buying an additional 376,129 shares during the period. SG Capital Management LLC purchased a new stake in Upbound Group in the 1st quarter valued at about $12,198,000. Finally, Huber Capital Management LLC grew its holdings in Upbound Group by 51.4% in the 2nd quarter. Huber Capital Management LLC now owns 745,299 shares of the company’s stock valued at $22,881,000 after buying an additional 253,104 shares during the period. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

Upbound Group Company Profile

Upbound Group, Inc leases household durable goods to customers on a lease-to-own basis in the United States, Puerto Rico, and Mexico. It operates through four segments: Rent-A-Center, Acima, Mexico, and Franchising. The company's brands, such as Rent-A-Center and Acima that facilitate consumer transactions across a range of store-based and virtual channels.