Stephens Initiates Coverage on Upbound Group (NASDAQ:UPBD)

Investment analysts at Stephens initiated coverage on shares of Upbound Group (NASDAQ:UPBD - Get Free Report) in a research note issued on Wednesday, MarketBeat.com reports. The firm set an "overweight" rating and a $38.00 price target on the stock. Stephens' target price would suggest a potential upside of 14.84% from the company's previous close.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group lowered their target price on shares of Upbound Group from $37.00 to $35.00 and set a "hold" rating on the stock in a report on Tuesday, October 1st. Loop Capital cut their target price on Upbound Group from $36.00 to $33.00 and set a "hold" rating for the company in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.17.

Upbound Group Stock Performance

UPBD traded down $0.23 during trading hours on Wednesday, reaching $33.09. The company's stock had a trading volume of 413,219 shares, compared to its average volume of 454,487. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.86 and a current ratio of 3.66. The company's 50-day moving average is $30.14 and its 200-day moving average is $31.49. Upbound Group has a 52 week low of $26.50 and a 52 week high of $38.72. The firm has a market cap of $1.81 billion, a PE ratio of 23.05 and a beta of 2.01.

Upbound Group (NASDAQ:UPBD - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.89 by $0.06. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.04 billion. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. Upbound Group's revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.79 EPS. On average, equities analysts forecast that Upbound Group will post 3.79 EPS for the current year.

Insiders Place Their Bets

In related news, Director Jeffrey J. Brown purchased 1,065 shares of Upbound Group stock in a transaction dated Tuesday, October 22nd. The shares were bought at an average cost of $29.25 per share, for a total transaction of $31,151.25. Following the purchase, the director now owns 85,234 shares in the company, valued at approximately $2,493,094.50. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Upbound Group news, EVP Transient C. Taylor sold 15,127 shares of the company's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $34.00, for a total value of $514,318.00. Following the completion of the transaction, the executive vice president now owns 14,651 shares of the company's stock, valued at $498,134. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey J. Brown bought 1,065 shares of the company's stock in a transaction on Tuesday, October 22nd. The stock was purchased at an average price of $29.25 per share, with a total value of $31,151.25. Following the completion of the transaction, the director now directly owns 85,234 shares of the company's stock, valued at approximately $2,493,094.50. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its holdings in Upbound Group by 232.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,640 shares of the company's stock worth $58,000 after buying an additional 1,146 shares during the period. Texas Permanent School Fund Corp boosted its holdings in Upbound Group by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 38,965 shares of the company's stock valued at $1,372,000 after acquiring an additional 522 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Upbound Group during the 1st quarter valued at approximately $330,000. SG Americas Securities LLC bought a new position in Upbound Group during the 1st quarter worth approximately $112,000. Finally, Headlands Technologies LLC acquired a new position in shares of Upbound Group in the 1st quarter worth approximately $29,000. 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.