FirstCash (NASDAQ:FCFS) Stock Price Expected to Rise, TD Cowen Analyst Says

FirstCash (NASDAQ:FCFS) had its price target lifted by analysts at TD Cowen from $235.00 to $240.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 8.88% from the company’s current price.

Several other research analysts have also issued reports on the stock. Canaccord Genuity Group lifted their price target on shares of FirstCash from $242.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Zacks Research lowered shares of FirstCash from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Weiss Ratings downgraded shares of FirstCash from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, April 27th. Finally, Wall Street Zen downgraded FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $199.25.

FirstCash Stock Down 1.7%

FirstCash stock traded down $3.86 during midday trading on Tuesday, hitting $220.43. 98,505 shares of the company were exchanged, compared to its average volume of 359,928. FirstCash has a fifty-two week low of $119.21 and a fifty-two week high of $235.97. The company has a market cap of $9.66 billion, a PE ratio of 27.62 and a beta of 0.53. The company has a debt-to-equity ratio of 0.98, a current ratio of 4.77 and a quick ratio of 3.42. The company’s fifty day moving average price is $222.71 and its 200-day moving average price is $196.30.

FirstCash (NASDAQ:FCFS) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.39. FirstCash had a net margin of 9.15% and a return on equity of 18.68%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1 billion. During the same period last year, the business earned $2.07 EPS. The firm’s revenue for the quarter was up 25.7% compared to the same quarter last year. On average, research analysts predict that FirstCash will post 11.3 EPS for the current fiscal year.

Insider Buying and Selling at FirstCash

In other FirstCash news, Director Paula K. Garrett sold 1,500 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $217.40, for a total transaction of $326,100.00. Following the completion of the sale, the director directly owned 6,564 shares in the company, valued at $1,427,013.60. This represents a 18.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas Brent Stuart sold 10,000 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $228.49, for a total transaction of $2,284,900.00. Following the completion of the transaction, the chief operating officer directly owned 140,846 shares of the company’s stock, valued at approximately $32,181,902.54. The trade was a 6.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 27,500 shares of company stock worth $6,243,104 in the last 90 days. Company insiders own 2.86% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in FirstCash by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,946 shares of the company’s stock worth $2,761,000 after acquiring an additional 1,021 shares during the period. Goldman Sachs Group Inc. increased its stake in FirstCash by 9.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 389,509 shares of the company’s stock worth $46,866,000 after purchasing an additional 34,364 shares during the period. Jane Street Group LLC boosted its position in FirstCash by 237.2% during the 1st quarter. Jane Street Group LLC now owns 62,057 shares of the company’s stock valued at $7,467,000 after buying an additional 43,653 shares during the period. American Century Companies Inc. grew its stake in shares of FirstCash by 4.9% in the second quarter. American Century Companies Inc. now owns 14,187 shares of the company’s stock worth $1,917,000 after purchasing an additional 666 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of FirstCash by 67.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 20,872 shares of the company’s stock valued at $2,821,000 after buying an additional 8,402 shares during the period. 80.30% of the stock is owned by institutional investors and hedge funds.

FirstCash Company Profile

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.