Loop Capital Has Lowered Expectations for Upbound Group (NASDAQ:UPBD) Stock Price

Upbound Group (NASDAQ:UPBD - Get Free Report) had its price target lowered by research analysts at Loop Capital from $33.00 to $30.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "hold" rating on the stock. Loop Capital's price target suggests a potential upside of 9.77% from the company's previous close.

Several other research firms also recently issued reports on UPBD. TD Cowen upgraded Upbound Group to a "strong-buy" rating in a report on Friday, November 29th. Stephens began coverage on shares of Upbound Group in a research report on Wednesday, November 13th. They issued an "overweight" rating and a $38.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Upbound Group has an average rating of "Moderate Buy" and an average price target of $38.20.

Upbound Group Price Performance

NASDAQ:UPBD traded up $0.88 during trading hours on Friday, reaching $27.33. 624,946 shares of the company's stock were exchanged, compared to its average volume of 458,148. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.08. The company has a market capitalization of $1.49 billion, a P/E ratio of 12.37 and a beta of 2.05. Upbound Group has a 12 month low of $26.25 and a 12 month high of $38.72. The business's 50-day simple moving average is $29.39 and its two-hundred day simple moving average is $30.72.

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Upbound Group (NASDAQ:UPBD - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. Upbound Group had a return on equity of 35.47% and a net margin of 2.86%. Sell-side analysts expect that Upbound Group will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling at Upbound Group

In related news, Director Jeffrey J. Brown purchased 1,146 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The stock was acquired at an average cost of $29.01 per share, for a total transaction of $33,245.46. Following the completion of the acquisition, the director now owns 86,380 shares in the company, valued at $2,505,883.80. This trade represents a 1.34 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.70% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its holdings in shares of Upbound Group by 2,864.5% during the 3rd quarter. Wellington Management Group LLP now owns 405,569 shares of the company's stock valued at $12,974,000 after acquiring an additional 391,888 shares in the last quarter. Geode Capital Management LLC boosted its position in Upbound Group by 4.7% during the third 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. Barclays PLC grew its stake in Upbound Group by 42.5% in the third quarter. Barclays PLC now owns 316,225 shares of the company's stock valued at $10,116,000 after purchasing an additional 94,333 shares in the last quarter. JPMorgan Chase & Co. increased its position in Upbound Group by 130.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 182,397 shares of the company's stock worth $5,835,000 after purchasing an additional 103,212 shares during the last quarter. Finally, State Street Corp increased its position in Upbound Group by 2.2% in the 3rd quarter. State Street Corp now owns 2,028,224 shares of the company's stock worth $64,883,000 after purchasing an additional 43,814 shares during the last quarter. Institutional investors and hedge funds 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.