PROG (NYSE:PRG) Upgraded at Raymond James

PROG (NYSE:PRG - Get Free Report) was upgraded by Raymond James from a "market perform" rating to an "outperform" rating in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm currently has a $48.00 price objective on the stock. Raymond James' price objective indicates a potential upside of 11.84% from the stock's current price.

Several other research firms also recently commented on PRG. Loop Capital upgraded PROG from a "hold" rating to a "buy" rating and raised their target price for the stock from $41.00 to $55.00 in a research report on Monday, August 19th. KeyCorp raised their target price on PROG from $46.00 to $55.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 10th. Jefferies Financial Group raised their price target on PROG from $50.00 to $58.00 and gave the company a "buy" rating in a report on Tuesday, October 1st. Finally, TD Cowen raised their price target on PROG from $40.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.00.

PROG Price Performance

Shares of PROG stock traded up $0.46 during midday trading on Thursday, hitting $42.92. 620,207 shares of the company were exchanged, compared to its average volume of 411,733. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.87 and a quick ratio of 1.80. The firm has a market cap of $1.85 billion, a P/E ratio of 17.33 and a beta of 2.11. PROG has a 52 week low of $26.39 and a 52 week high of $50.28. The firm has a 50 day simple moving average of $47.01 and a 200-day simple moving average of $39.74.

PROG (NYSE:PRG - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.76 by $0.01. The business had revenue of $606.10 million during the quarter, compared to the consensus estimate of $601.86 million. PROG had a return on equity of 26.30% and a net margin of 4.57%. PROG's revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $0.90 EPS. Research analysts forecast that PROG will post 3.34 earnings per share for the current year.

Institutional Investors Weigh In On PROG

Several hedge funds and other institutional investors have recently made changes to their positions in PRG. Assenagon Asset Management S.A. acquired a new stake in shares of PROG in the 3rd quarter valued at $19,079,000. Diversify Wealth Management LLC acquired a new stake in shares of PROG in the 2nd quarter valued at $8,794,000. SG Capital Management LLC acquired a new stake in shares of PROG in the 1st quarter valued at $5,932,000. Fourth Sail Capital LP acquired a new stake in shares of PROG in the 2nd quarter valued at $5,500,000. Finally, Millennium Management LLC increased its stake in shares of PROG by 497.6% in the 2nd quarter. Millennium Management LLC now owns 160,896 shares of the company's stock valued at $5,580,000 after buying an additional 133,972 shares during the period. 97.92% of the stock is owned by institutional investors and hedge funds.

About PROG

PROG Holdings, Inc NYSE: PRG is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.