Upbound Group (NASDAQ:UPBD) Coverage Initiated at Stephens

Stephens began coverage on shares of Upbound Group (NASDAQ:UPBD) in a report issued on Wednesday morning, Marketbeat.com reports. The firm issued an overweight rating and a $38.00 price objective on the stock.

A number of other analysts have also weighed in on the company. Loop Capital cut their price objective on Upbound Group from $36.00 to $33.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Jefferies Financial Group cut 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. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $39.17.

Upbound Group Price Performance

UPBD opened at $31.78 on Wednesday. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 21.92 and a beta of 2.01. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.02. The stock’s 50-day moving average price is $30.18 and its 200 day moving average price is $31.51. Upbound Group has a 12-month low of $26.50 and a 12-month high of $38.72.

Upbound Group (NASDAQ:UPBD) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.95 EPS for the quarter, beating the consensus estimate 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 quarter last year, the firm posted $0.79 earnings per share. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, sell-side analysts expect that Upbound Group will post 3.79 earnings per share for the current year.

Upbound Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were issued a $0.37 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.66%. Upbound Group’s payout ratio is currently 102.07%.

Insider Activity

In other news, EVP Transient C. Taylor sold 15,127 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $34.00, for a total value of $514,318.00. Following the transaction, the executive vice president now owns 14,651 shares in the company, valued at approximately $498,134. This represents a 50.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey J. Brown acquired 1,065 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was acquired at an average price of $29.25 per share, for a total transaction of $31,151.25. Following the acquisition, the director now owns 85,234 shares in the company, valued at approximately $2,493,094.50. The trade was a 1.27 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in UPBD. Ieq Capital LLC grew its stake 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 buying an additional 2,557,906 shares during the last quarter. Wellington Management Group LLP grew its stake in Upbound Group by 2,864.5% during the 3rd quarter. Wellington Management Group LLP now owns 405,569 shares of the company’s stock worth $12,974,000 after buying an additional 391,888 shares during the last quarter. Marshall Wace LLP grew its stake in Upbound Group by 1,903.6% during the 2nd quarter. Marshall Wace LLP now owns 395,888 shares of the company’s stock worth $12,154,000 after buying an additional 376,129 shares during the last quarter. SG Capital Management LLC purchased a new position in Upbound Group during the 1st quarter worth approximately $12,198,000. Finally, Huber Capital Management LLC lifted its position in Upbound Group by 51.4% during the 2nd quarter. Huber Capital Management LLC now owns 745,299 shares of the company’s stock worth $22,881,000 after acquiring an additional 253,104 shares during the period. Hedge funds and other institutional investors own 90.30% of the company’s stock.

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.