Upbound Group (NASDAQ:UPBD) PT Lowered to $35.00 at Jefferies Financial Group

Upbound Group (NASDAQ:UPBD) had its target price reduced by equities researchers at Jefferies Financial Group from $37.00 to $35.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Jefferies Financial Group’s price target indicates a potential upside of 23.41% from the stock’s previous close.

UPBD has been the subject of a number of other reports. BTIG Research started coverage on shares of Upbound Group in a report on Friday, June 7th. They issued a “buy” rating and a $45.00 price target for the company. Loop Capital restated a “hold” rating and issued a $36.00 price target on shares of Upbound Group in a report on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Upbound Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Upbound Group Price Performance

Shares of NASDAQ UPBD opened at $28.36 on Tuesday. Upbound Group has a twelve month low of $25.00 and a twelve month high of $38.72. The firm has a fifty day simple moving average of $32.36 and a 200 day simple moving average of $32.18. The company has a market capitalization of $1.55 billion, a PE ratio of -61.65 and a beta of 2.00. The company has a quick ratio of 0.84, a current ratio of 3.96 and a debt-to-equity ratio of 2.21.

Upbound Group (NASDAQ:UPBD) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.01. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Upbound Group had a net margin of 1.31% and a return on equity of 32.94%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the company posted $1.11 earnings per share. On average, sell-side analysts forecast that Upbound Group will post 3.81 EPS for the current year.

Insider Activity

In other Upbound Group news, Director Jeffrey J. Brown acquired 1,031 shares of Upbound Group stock in a transaction dated Tuesday, July 9th. The stock was purchased at an average cost of $29.82 per share, for a total transaction of $30,744.42. Following the completion of the acquisition, the director now directly owns 84,169 shares of the company’s stock, valued at $2,509,919.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Jeffrey J. Brown purchased 1,031 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were acquired at an average cost of $29.82 per share, for a total transaction of $30,744.42. Following the completion of the acquisition, the director now owns 84,169 shares in the company, valued at $2,509,919.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Transient C. Taylor sold 15,127 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $34.00, for a total transaction of $514,318.00. Following the transaction, the executive vice president now owns 14,651 shares in the company, valued at $498,134. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UPBD. Headlands Technologies LLC purchased a new position in Upbound Group during the first quarter worth about $29,000. Blue Trust Inc. raised its position in Upbound Group by 47.9% in the second quarter. Blue Trust Inc. now owns 1,118 shares of the company’s stock worth $34,000 after acquiring an additional 362 shares during the period. Meeder Asset Management Inc. bought a new stake in Upbound Group in the second quarter worth about $42,000. Allspring Global Investments Holdings LLC raised its position in Upbound Group by 232.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,640 shares of the company’s stock worth $58,000 after acquiring an additional 1,146 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Upbound Group in the second quarter worth about $89,000. 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.