PROG (NYSE:PRG) Now Covered by Stephens

Stock analysts at Stephens initiated coverage on shares of PROG (NYSE:PRG - Get Free Report) in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm set an "overweight" rating and a $60.00 price target on the stock. Stephens' price objective suggests a potential upside of 22.85% from the stock's current price.

A number of other equities research analysts have also recently issued reports on PRG. Raymond James raised shares of PROG from a "market perform" rating to an "outperform" rating and set a $48.00 price target for the company in a report on Thursday, October 24th. KeyCorp boosted their target price on PROG from $46.00 to $55.00 and gave the stock an "overweight" rating in a report on Tuesday, September 10th. 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. Loop Capital raised PROG from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $41.00 to $55.00 in a research note on Monday, August 19th. Finally, Jefferies Financial Group raised their target price on PROG from $50.00 to $58.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.83.

PROG Price Performance

NYSE:PRG traded up $0.60 during mid-day trading on Wednesday, hitting $48.84. The company's stock had a trading volume of 514,331 shares, compared to its average volume of 410,948. The company has a current ratio of 4.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.94. The stock has a fifty day moving average of $46.80 and a 200-day moving average of $41.04. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 13.65 and a beta of 2.11. PROG has a fifty-two week low of $26.39 and a fifty-two week high of $50.28.

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. PROG had a return on equity of 24.56% and a net margin of 6.55%. The business had revenue of $606.10 million during the quarter, compared to the consensus estimate of $601.86 million. During the same quarter last year, the company earned $0.90 EPS. PROG's revenue was up 4.0% on a year-over-year basis. As a group, equities analysts forecast that PROG will post 3.35 EPS for the current fiscal year.

Insider Transactions at PROG

In related news, CFO Brian Garner sold 5,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $49.29, for a total value of $246,450.00. Following the transaction, the chief financial officer now directly owns 107,720 shares in the company, valued at $5,309,518.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Michael Todd King sold 1,500 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $46.97, for a total value of $70,455.00. Following the sale, the insider now directly owns 37,017 shares in the company, valued at $1,738,688.49. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brian Garner sold 5,000 shares of PROG stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $49.29, for a total transaction of $246,450.00. Following the transaction, the chief financial officer now directly owns 107,720 shares in the company, valued at approximately $5,309,518.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,707 shares of company stock worth $5,588,072 in the last quarter. 2.74% of the stock is owned by company insiders.

Institutional Investors Weigh In On PROG

Hedge funds have recently modified their holdings of the business. Whittier Trust Co. bought a new stake in PROG in the 3rd quarter valued at $26,000. Financial Management Professionals Inc. acquired a new stake in shares of PROG in the 3rd quarter valued at about $33,000. GAMMA Investing LLC lifted its holdings in shares of PROG by 72.0% in the third quarter. GAMMA Investing LLC now owns 805 shares of the company's stock valued at $39,000 after purchasing an additional 337 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of PROG during the second quarter worth about $47,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in PROG in the 1st quarter valued at approximately $59,000. Institutional investors and hedge funds own 97.92% of the company's stock.

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.