Shares of Upbound Group, Inc. (NASDAQ:UPBD – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $39.17.
Several research analysts recently commented on the stock. Stephens assumed coverage on shares of Upbound Group in a research note on Wednesday, November 13th. They set an “overweight” rating and a $38.00 price objective for the company. Loop Capital dropped their target price 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 research report on Tuesday, October 1st. Finally, TD Cowen upgraded shares of Upbound Group to a “strong-buy” rating in a research note on Friday, November 29th.
Get Our Latest Research Report on Upbound Group
Upbound Group Stock Performance
Upbound Group (NASDAQ:UPBD – Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. The company’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.79 EPS. As a group, equities analysts predict that Upbound Group will post 3.8 EPS for the current year.
Upbound Group Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Wednesday, December 18th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 5.34%. This is a boost from Upbound Group’s previous quarterly dividend of $0.37. The ex-dividend date is Wednesday, December 18th. Upbound Group’s payout ratio is presently 107.59%.
Insider Activity
In other Upbound Group news, Director Jeffrey J. Brown bought 1,065 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were acquired at an average cost of $29.25 per share, with a total value of $31,151.25. Following the purchase, the director now directly owns 85,234 shares of the company’s stock, valued at $2,493,094.50. This trade represents a 1.27 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.70% of the company’s stock.
Hedge Funds Weigh In On Upbound Group
A number of institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in shares of Upbound Group by 130.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 182,397 shares of the company’s stock worth $5,835,000 after acquiring an additional 103,212 shares during the period. Franklin Resources Inc. increased its position in Upbound Group by 29.0% during the third quarter. Franklin Resources Inc. now owns 32,791 shares of the company’s stock worth $963,000 after purchasing an additional 7,372 shares during the last quarter. Virtu Financial LLC purchased a new position in Upbound Group during the third quarter worth about $229,000. Geode Capital Management LLC boosted its holdings in Upbound Group by 4.7% in 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 last quarter. Finally, Barclays PLC grew its stake in shares of Upbound Group by 42.5% in the 3rd quarter. Barclays PLC now owns 316,225 shares of the company’s stock valued at $10,116,000 after buying an additional 94,333 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.
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