Brokerages Set Upbound Group, Inc. (NASDAQ:UPBD) Price Target at $39.17

Upbound Group, Inc. (NASDAQ:UPBD) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $39.17.

Several research firms recently weighed in on UPBD. Jefferies Financial Group decreased their price target on Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Tuesday, October 1st. Loop Capital reduced their target price 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, November 1st. Finally, Stephens initiated coverage on shares of Upbound Group in a report on Wednesday, November 13th. They issued an “overweight” rating and a $38.00 target price for the company.

Insider Transactions at Upbound Group

In other news, Director Jeffrey J. Brown purchased 1,065 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was purchased at an average price of $29.25 per share, for a total transaction of $31,151.25. Following the completion of the acquisition, the director now owns 85,234 shares of the company’s stock, valued at approximately $2,493,094.50. This trade represents a 1.27 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Upbound Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Upbound Group by 3.6% during the first quarter. Vanguard Group Inc. now owns 6,005,494 shares of the company’s stock valued at $211,453,000 after buying an additional 209,422 shares during the period. Ieq Capital LLC grew its holdings in 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 acquiring an additional 2,557,906 shares in the last quarter. State Street Corp increased its position in Upbound Group by 2.2% during the 3rd quarter. State Street Corp now owns 2,028,224 shares of the company’s stock valued at $64,883,000 after purchasing an additional 43,814 shares during the period. Geode Capital Management LLC increased its position in Upbound Group by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,217,880 shares of the company’s stock valued at $38,968,000 after purchasing an additional 54,427 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Upbound Group by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 914,047 shares of the company’s stock valued at $29,240,000 after purchasing an additional 33,167 shares in the last quarter. 90.30% of the stock is owned by institutional investors.

Upbound Group Stock Performance

Upbound Group stock opened at $34.39 on Wednesday. The company’s 50-day moving average price is $30.83 and its 200-day moving average price is $31.63. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.02. The company has a market cap of $1.88 billion, a PE ratio of 23.72 and a beta of 2.01. Upbound Group has a twelve month low of $26.50 and a twelve month high of $38.72.

Upbound Group (NASDAQ:UPBD) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.06. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Upbound Group had a return on equity of 34.15% and a net margin of 1.91%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 earnings per share. On average, equities research analysts forecast that Upbound Group will post 3.79 EPS for the current fiscal 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 $0.37 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.48 dividend on an annualized basis and a yield of 4.30%. Upbound Group’s payout ratio is 102.07%.

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.