ValuEngine Downgrades Rent-A-Center (NASDAQ:RCII) to Hold

Rent-A-Center (NASDAQ:RCII) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, June 22nd, ValuEngine reports.

RCII has been the subject of a number of other reports. TheStreet upgraded Rent-A-Center from a “c” rating to a “b-” rating in a research report on Tuesday, May 7th. Raymond James reiterated a “buy” rating on shares of West Fraser Timber in a research report on Monday, April 22nd. Jefferies Financial Group boosted their price target on Rent-A-Center from $19.50 to $22.00 and gave the stock a “hold” rating in a research report on Monday, March 18th. Finally, BidaskClub lowered Zynga from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Rent-A-Center presently has a consensus rating of “Buy” and an average target price of $21.80.

Shares of Rent-A-Center stock traded up $0.30 on Friday, reaching $27.83. 642,996 shares of the stock were exchanged, compared to its average volume of 1,091,395. The company has a 50 day simple moving average of $25.34. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.55 and a quick ratio of 0.82. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 26.25 and a beta of 0.48. Rent-A-Center has a twelve month low of $11.98 and a twelve month high of $27.95.

Rent-A-Center (NASDAQ:RCII) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.29. The company had revenue of $696.69 million during the quarter, compared to analysts’ expectations of $683.62 million. Rent-A-Center had a return on equity of 33.38% and a net margin of 1.34%. Rent-A-Center’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the business earned ($0.08) earnings per share. On average, research analysts predict that Rent-A-Center will post 2.12 earnings per share for the current fiscal year.

In other news, EVP Catherine M. Skula sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $24.45, for a total value of $122,250.00. Following the transaction, the executive vice president now owns 32,090 shares of the company’s stock, valued at approximately $784,600.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.81% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Crossmark Global Holdings Inc. acquired a new position in Rent-A-Center during the 4th quarter worth about $237,000. Bank of Montreal Can lifted its stake in Rent-A-Center by 105.6% during the 4th quarter. Bank of Montreal Can now owns 3,831 shares of the company’s stock worth $62,000 after acquiring an additional 1,968 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new position in Rent-A-Center during the 1st quarter worth about $1,475,000. Rhumbline Advisers lifted its stake in Rent-A-Center by 20.2% during the 4th quarter. Rhumbline Advisers now owns 133,041 shares of the company’s stock worth $2,154,000 after acquiring an additional 22,319 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in Rent-A-Center during the 1st quarter worth about $580,000. 95.26% of the stock is currently owned by hedge funds and other institutional investors.

Rent-A-Center Company Profile

Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a rent-to-own basis. The company operates through four segments: Core U.S., Acceptance Now, Mexico, and Franchising. It offers durable products, such as consumer electronics; appliances; computers, including tablets; smartphones; wheels and tires; and furniture, including accessories under rental purchase agreements.

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