FirstCash (NASDAQ:FCFS) Given New $240.00 Price Target at Canaccord Genuity Group

FirstCash (NASDAQ:FCFS) had its target price boosted by stock analysts at Canaccord Genuity Group from $217.00 to $240.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 25.32% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FirstCash in a research report on Monday, December 29th. Wall Street Zen downgraded shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 15th. Finally, Zacks Research lowered FirstCash from a “strong-buy” rating to a “hold” rating in a report on Friday, January 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $183.25.

FirstCash Trading Up 1.6%

Shares of NASDAQ FCFS traded up $3.03 during trading hours on Friday, hitting $191.50. 89,702 shares of the company traded hands, compared to its average volume of 281,257. The company has a current ratio of 4.55, a quick ratio of 3.36 and a debt-to-equity ratio of 0.97. FirstCash has a 12 month low of $114.21 and a 12 month high of $199.60. The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of 25.81 and a beta of 0.46. The company’s 50 day moving average price is $180.55 and its 200 day moving average price is $164.50.

FirstCash (NASDAQ:FCFS) last released its earnings results on Thursday, February 5th. The company reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.10. FirstCash had a net margin of 9.02% and a return on equity of 17.99%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business earned $2.12 EPS. The business’s revenue was up 19.8% on a year-over-year basis. On average, equities research analysts anticipate that FirstCash will post 7.7 earnings per share for the current fiscal year.

Insider Transactions at FirstCash

In related news, COO Thomas Brent Stuart sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $182.53, for a total transaction of $1,825,300.00. Following the transaction, the chief operating officer directly owned 150,846 shares in the company, valued at $27,533,920.38. The trade was a 6.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Howard F. Hambleton sold 4,000 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $185.12, for a total transaction of $740,480.00. Following the transaction, the insider owned 35,406 shares in the company, valued at approximately $6,554,358.72. This trade represents a 10.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 26,500 shares of company stock valued at $4,783,985 in the last quarter. 2.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FirstCash

Several hedge funds have recently modified their holdings of the company. Root Financial Partners LLC purchased a new position in shares of FirstCash in the third quarter valued at approximately $25,000. Rothschild Investment LLC grew its holdings in shares of FirstCash by 127.8% during the third quarter. Rothschild Investment LLC now owns 180 shares of the company’s stock worth $29,000 after buying an additional 101 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of FirstCash by 490.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 195 shares of the company’s stock valued at $31,000 after buying an additional 162 shares during the last quarter. Community Bank N.A. acquired a new position in FirstCash during the third quarter worth about $32,000. Finally, High Point Wealth Management LLC purchased a new stake in FirstCash during the 4th quarter valued at about $33,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

About FirstCash

FirstCash, Inc (NASDAQ: FCFS) is a leading integrated operator of pawn stores and provider of short-term consumer loan services in the United States and Mexico. Through its retail pawn outlets, FirstCash offers collateral-based loans secured by personal property, enabling customers to access liquidity without a credit history or traditional bank account. The company also purchases, trades and sells a broad range of secondhand merchandise, including electronics, jewelry and power tools, through its network of conveniently located stores.

In addition to its pawn-broking activities, FirstCash provides unsecured consumer loans designed to meet urgent cash needs.