Rent-A-Center Inc (RCII) Given Average Rating of “Hold” by Analysts

Shares of Rent-A-Center Inc (NASDAQ:RCII) have been given an average rating of “Hold” by the ten brokerages that are presently covering the stock. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $13.07.

A number of equities analysts have issued reports on the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $11.50 target price (up from $8.50) on shares of Rent-A-Center in a research report on Monday. Raymond James Financial, Inc. raised Rent-A-Center from a “market perform” rating to a “strong-buy” rating and set a $15.00 target price on the stock in a research report on Wednesday, April 12th. Loop Capital reaffirmed a “hold” rating and issued a $8.00 target price on shares of Rent-A-Center in a research report on Wednesday, April 12th. Stephens set a $9.00 target price on Rent-A-Center and gave the company a “sell” rating in a research report on Thursday, April 6th. Finally, Janney Montgomery Scott began coverage on Rent-A-Center in a research report on Thursday, April 6th. They set a “buy” rating and a $12.00 price target on the stock.

Rent-A-Center (NASDAQ:RCII) traded down 0.18% during midday trading on Tuesday, hitting $10.84. 311,078 shares of the stock traded hands. The company’s 50-day moving average is $9.41 and its 200 day moving average is $10.12. The firm’s market cap is $576.64 million. Rent-A-Center has a 12-month low of $7.76 and a 12-month high of $15.94.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 20th. Investors of record on Monday, April 3rd were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend was Thursday, March 30th. Rent-A-Center’s dividend payout ratio is currently -1.95%.

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In other news, Chairman Mark E. Speese purchased 100,000 shares of the company’s stock in a transaction that occurred on Friday, February 17th. The shares were acquired at an average cost of $8.45 per share, with a total value of $845,000.00. Following the transaction, the chairman now owns 744,627 shares in the company, valued at approximately $6,292,098.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christopher A. Korst acquired 5,000 shares of the stock in a transaction that occurred on Thursday, February 16th. The shares were bought at an average price of $8.32 per share, with a total value of $41,600.00. Following the completion of the purchase, the executive vice president now owns 32,549 shares in the company, valued at $270,807.68. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 1,805,233 shares of company stock worth $15,593,865. Corporate insiders own 3.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of RCII. Frontier Capital Management Co. LLC increased its position in shares of Rent-A-Center by 682.2% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,956,302 shares of the company’s stock worth $33,258,000 after buying an additional 2,578,360 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Rent-A-Center by 636.5% in the third quarter. JPMorgan Chase & Co. now owns 1,929,963 shares of the company’s stock worth $24,394,000 after buying an additional 1,667,921 shares during the last quarter. Norges Bank bought a new position in shares of Rent-A-Center during the fourth quarter worth approximately $16,127,000. Peregrine Capital Management LLC bought a new position in shares of Rent-A-Center during the third quarter worth approximately $6,079,000. Finally, BlackRock Fund Advisors increased its position in shares of Rent-A-Center by 8.5% in the third quarter. BlackRock Fund Advisors now owns 3,711,500 shares of the company’s stock worth $46,913,000 after buying an additional 291,330 shares during the last quarter. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Rent-A-Center Company Profile

Rent-A-Center, Inc is a rent-to-own operator in North America. The Company provides an opportunity to obtain ownership of products, such as consumer electronics, appliances, computers (including tablets), smartphones and furniture (including accessories), under rental purchase agreements. The Company operates in four segments: Core U.S., Acceptance Now, Mexico, and Franchising.

5 Day Chart for NASDAQ:RCII

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