Upbound Group (NASDAQ:UPBD) Price Target Cut to $32.00

Upbound Group (NASDAQ:UPBD) had its price target reduced by analysts at Jefferies Financial Group from $34.00 to $32.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Jefferies Financial Group’s price objective would indicate a potential upside of 2.99% from the company’s previous close.

Separately, BTIG Research initiated coverage on shares of Upbound Group in a research report on Friday, June 7th. They set a “buy” rating and a $45.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.17.

Upbound Group Price Performance

Shares of NASDAQ UPBD opened at $31.07 on Wednesday. Upbound Group has a fifty-two week low of $25.00 and a fifty-two week high of $36.17. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -67.54 and a beta of 2.02. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.72 and a current ratio of 3.49. The firm’s 50-day simple moving average is $31.54 and its 200 day simple moving average is $32.55.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.02. Upbound Group had a negative net margin of 0.61% and a positive return on equity of 33.40%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the firm earned $0.83 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, research analysts anticipate that Upbound Group will post 3.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jeffrey J. Brown purchased 1,031 shares of the stock in a transaction that occurred on Tuesday, July 9th. The shares were bought at an average price of $29.82 per share, with a total value of $30,744.42. Following the acquisition, the director now owns 84,169 shares of the company’s stock, valued at approximately $2,509,919.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Jeffrey J. Brown purchased 991 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were bought at an average price of $30.68 per share, with a total value of $30,403.88. Following the acquisition, the director now owns 83,138 shares of the company’s stock, valued at approximately $2,550,673.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey J. Brown acquired 1,031 shares of Upbound Group stock in a transaction that occurred on Tuesday, July 9th. The stock was acquired at an average price of $29.82 per share, with a total value of $30,744.42. Following the completion of the purchase, the director now directly owns 84,169 shares in the company, valued at approximately $2,509,919.58. The disclosure for this purchase can be found here. 2.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of UPBD. Integrated Advisors Network LLC purchased a new position in Upbound Group in the 3rd quarter valued at approximately $470,000. American Century Companies Inc. purchased a new position in Upbound Group in the 3rd quarter valued at approximately $21,549,000. Citigroup Inc. purchased a new position in Upbound Group in the 3rd quarter valued at approximately $596,000. Vanguard Group Inc. purchased a new position in Upbound Group in the 3rd quarter valued at approximately $170,877,000. Finally, CoreCap Advisors LLC grew its stake in Upbound Group by 12.3% in the 4th quarter. CoreCap Advisors LLC now owns 18,565 shares of the company’s stock valued at $631,000 after buying an additional 2,038 shares in the last quarter. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

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.