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

Upbound Group (NASDAQ:UPBD) had its price target dropped by equities research analysts at Loop Capital from $33.00 to $30.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Loop Capital’s target price would indicate a potential upside of 10.91% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Stephens began coverage on shares of Upbound Group in a report on Wednesday, November 13th. They set an “overweight” rating and a $38.00 price target on the stock. TD Cowen raised shares of Upbound Group to a “strong-buy” rating in a research report on Friday, November 29th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.67.

Upbound Group Stock Down 2.1 %

UPBD stock traded down $0.59 during midday trading on Friday, hitting $27.05. The company’s stock had a trading volume of 390,888 shares, compared to its average volume of 428,680. The stock has a market capitalization of $1.48 billion, a P/E ratio of 18.66 and a beta of 2.05. Upbound Group has a twelve month low of $26.50 and a twelve month high of $38.72. The company’s fifty day moving average price is $29.61 and its 200 day moving average price is $30.82. The company has a debt-to-equity ratio of 2.02, a current ratio of 3.66 and a quick ratio of 0.86.

Upbound Group (NASDAQ:UPBD) last issued its quarterly earnings data on Thursday, February 20th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Upbound Group had a return on equity of 34.15% and a net margin of 1.91%. As a group, equities research analysts predict that Upbound Group will post 3.8 EPS for the current year.

Insider Activity at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown acquired 1,146 shares of the stock in a transaction dated Tuesday, January 7th. The stock was purchased at an average cost of $29.01 per share, for a total transaction of $33,245.46. Following the acquisition, the director now owns 86,380 shares in the company, valued at $2,505,883.80. The trade was a 1.34 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 2.70% of the stock is currently owned by insiders.

Institutional Trading of Upbound Group

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in shares of Upbound Group by 2,864.5% in 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 during the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 period. Barclays PLC grew its holdings in shares of Upbound Group by 42.5% in the third quarter. Barclays PLC now owns 316,225 shares of the company’s stock worth $10,116,000 after purchasing an additional 94,333 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Upbound Group by 130.3% in the third quarter. JPMorgan Chase & Co. now owns 182,397 shares of the company’s stock worth $5,835,000 after buying an additional 103,212 shares during the period. Finally, State Street Corp raised its holdings in Upbound Group by 2.2% during the 3rd quarter. State Street Corp now owns 2,028,224 shares of the company’s stock valued at $64,883,000 after buying an additional 43,814 shares during the last quarter. 90.30% of the stock is owned by institutional investors.

Upbound Group Company Profile

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.