Upbound Group, Inc. (NASDAQ:UPBD) Receives $39.17 Average Target Price from Analysts

Shares of Upbound Group, Inc. (NASDAQ:UPBD) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $39.17.

A number of equities research analysts have issued reports on the stock. TD Cowen upgraded shares of Upbound Group to a “strong-buy” rating in a report on Friday, November 29th. Loop Capital reduced their price objective on shares of Upbound Group from $36.00 to $33.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Finally, Stephens began coverage on shares of Upbound Group in a report on Wednesday, November 13th. They issued an “overweight” rating and a $38.00 price objective on the stock.

Insider Activity at Upbound Group

In related news, Director Jeffrey J. Brown bought 1,146 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were purchased at an average cost of $29.01 per share, with a total value of $33,245.46. Following the transaction, the director now directly owns 86,380 shares of the company’s stock, valued at approximately $2,505,883.80. This represents a 1.34 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. R Squared Ltd purchased a new position in shares of Upbound Group in the 4th quarter valued at $25,000. Covestor Ltd grew its position in Upbound Group by 268.8% during the 3rd quarter. Covestor Ltd now owns 1,136 shares of the company’s stock worth $37,000 after purchasing an additional 828 shares during the last quarter. Blue Trust Inc. grew its position in Upbound Group by 40.1% during the 3rd quarter. Blue Trust Inc. now owns 1,566 shares of the company’s stock worth $48,000 after purchasing an additional 448 shares during the last quarter. Quarry LP grew its position in Upbound Group by 374.3% during the 3rd quarter. Quarry LP now owns 3,282 shares of the company’s stock worth $105,000 after purchasing an additional 2,590 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Upbound Group by 12.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,785 shares of the company’s stock worth $110,000 after purchasing an additional 429 shares during the last quarter. 90.30% of the stock is owned by hedge funds and other institutional investors.

Upbound Group Price Performance

Upbound Group stock opened at $29.37 on Monday. The firm has a market cap of $1.61 billion, a PE ratio of 20.26 and a beta of 2.05. Upbound Group has a 52-week low of $26.50 and a 52-week high of $38.72. 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’s 50 day moving average is $30.16 and its two-hundred day moving average is $31.08.

Upbound Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Wednesday, December 18th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.31%. This is a positive change from Upbound Group’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Wednesday, December 18th. Upbound Group’s dividend payout ratio (DPR) is presently 107.59%.

About Upbound Group

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.