Upbound Group (NASDAQ:UPBD) Sets New 52-Week Low After Analyst Downgrade

Shares of Upbound Group, Inc. (NASDAQ:UPBD - Get Free Report) hit a new 52-week low during trading on Friday after Loop Capital lowered their price target on the stock from $33.00 to $30.00. Loop Capital currently has a hold rating on the stock. Upbound Group traded as low as $26.36 and last traded at $26.40, with a volume of 674137 shares traded. The stock had previously closed at $27.64.

Several other analysts have also issued reports on the stock. TD Cowen raised shares of Upbound Group to a "strong-buy" rating in a research report on Friday, November 29th. Stephens initiated coverage on shares of Upbound Group in a report on Wednesday, November 13th. They set 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 company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $38.20.

Insider Activity

In other Upbound Group news, Director Jeffrey J. Brown acquired 1,146 shares of the company's stock in a transaction that occurred on Tuesday, January 7th. The stock was bought at an average price of $29.01 per share, with a total value of $33,245.46. Following the completion of the purchase, the director now owns 86,380 shares of the company's stock, valued at approximately $2,505,883.80. This represents a 1.34 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.70% of the company's stock.

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Institutional Trading of Upbound Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised its stake in Upbound Group by 2,864.5% in the third quarter. Wellington Management Group LLP now owns 405,569 shares of the company's stock valued at $12,974,000 after purchasing an additional 391,888 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Upbound Group by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,217,880 shares of the company's stock worth $38,968,000 after buying an additional 54,427 shares during the last quarter. Barclays PLC raised its position in shares of Upbound Group by 42.5% during the 3rd quarter. Barclays PLC now owns 316,225 shares of the company's stock valued at $10,116,000 after buying an additional 94,333 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Upbound Group by 130.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 182,397 shares of the company's stock worth $5,835,000 after acquiring an additional 103,212 shares during the last quarter. Finally, State Street Corp grew its position in Upbound Group by 2.2% in the third quarter. State Street Corp now owns 2,028,224 shares of the company's stock worth $64,883,000 after acquiring an additional 43,814 shares in the last quarter. Hedge funds and other institutional investors own 90.30% of the company's stock.

Upbound Group Trading Up 3.3 %

The stock has a 50 day moving average of $29.39 and a 200 day moving average of $30.72. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.66 and a quick ratio of 0.86. The firm has a market cap of $1.49 billion, a P/E ratio of 12.37 and a beta of 2.05.

Upbound Group (NASDAQ:UPBD - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02. The firm had revenue of $1.08 billion for 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%. As a group, equities research analysts predict that Upbound Group, Inc. will post 4.28 EPS for the current year.

Upbound Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Wednesday, December 18th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.71%. This is a positive change from Upbound Group's previous quarterly dividend of $0.37. The ex-dividend date was Wednesday, December 18th. Upbound Group's payout ratio is presently 70.59%.

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.