Upbound Group (NASDAQ:UPBD) Reaches New 1-Year Low on Analyst Downgrade

Upbound Group, Inc. (NASDAQ:UPBD)’s stock price hit a new 52-week low on Friday after Loop Capital lowered their price target on the stock from $33.00 to $30.00. Loop Capital currently has a hold rating on the stock. Upbound Group traded as low as $26.36 and last traded at $26.40, with a volume of 674137 shares traded. The stock had previously closed at $27.64.

A number of other research analysts have also issued reports on UPBD. Stephens assumed coverage on Upbound Group in a research report on Wednesday, November 13th. They set an “overweight” rating and a $38.00 target price on the stock. TD Cowen upgraded Upbound Group to a “strong-buy” rating in a research report on Friday, November 29th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.67.

Insiders Place Their Bets

In other Upbound Group news, Director Jeffrey J. Brown acquired 1,146 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was purchased at an average cost of $29.01 per share, with a total value of $33,245.46. Following the transaction, the director now owns 86,380 shares of the company’s stock, valued at $2,505,883.80. This trade represents a 1.34 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Upbound Group

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

Upbound Group Stock Down 3.9 %

The firm has a 50 day moving average price of $29.50 and a 200-day moving average price of $30.78. 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 firm has a market cap of $1.45 billion, a PE ratio of 18.32 and a beta of 2.05.

Upbound Group (NASDAQ:UPBD) last posted its earnings results on Thursday, February 20th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.02. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Upbound Group had a return on equity of 34.15% and a net margin of 1.91%. Research analysts forecast that Upbound Group, Inc. will post 3.8 EPS for the current fiscal year.

Upbound Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Wednesday, December 18th were issued a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.87%. This is a positive change from Upbound Group’s previous quarterly dividend of $0.37. Upbound Group’s payout ratio is presently 107.59%.

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.