FirstCash (NYSE:FCFS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $76.00 price target on the credit services provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 8.88% from the stock’s current price.
According to Zacks, “FirstCash Inc. is an operator of pawn stores. The company focuses on serving cash and credit constrained consumers through its retail pawn locations, which buy and sell jewelry, consumer electronics, power tools, household appliances, sporting goods, musical instruments and other merchandise. It operates primarily in the U.S., Mexico, Guatemala and El Salvador. FirstCash, Inc., formerly known as First Cash Financial Services Inc., is based in Arlington, United States. “
FCFS has been the topic of a number of other research reports. Jefferies Group reissued a “buy” rating and set a $73.00 price target on shares of FirstCash in a research report on Thursday, October 12th. BidaskClub raised FirstCash from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. ValuEngine downgraded FirstCash from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Wedbush boosted their price target on FirstCash from $62.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, October 5th. Finally, Credit Suisse Group began coverage on FirstCash in a research report on Wednesday, October 4th. They set an “outperform” rating and a $73.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $65.71.
FirstCash (NYSE:FCFS) last released its earnings results on Thursday, October 26th. The credit services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $435.40 million for the quarter, compared to the consensus estimate of $418.57 million. FirstCash had a return on equity of 8.45% and a net margin of 6.41%. FirstCash’s quarterly revenue was up 66.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 earnings per share. research analysts anticipate that FirstCash will post 2.65 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Grandeur Peak Global Advisors LLC acquired a new position in FirstCash during the third quarter worth approximately $54,801,000. Insight Capital Research & Management Inc. acquired a new position in shares of FirstCash in the third quarter valued at approximately $913,000. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of FirstCash in the third quarter valued at approximately $1,736,000. Earnest Partners LLC grew its position in shares of FirstCash by 1.6% in the third quarter. Earnest Partners LLC now owns 1,474,115 shares of the credit services provider’s stock valued at $93,090,000 after purchasing an additional 22,690 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in shares of FirstCash by 3.9% in the third quarter. California Public Employees Retirement System now owns 166,423 shares of the credit services provider’s stock valued at $10,510,000 after purchasing an additional 6,211 shares during the last quarter. 95.69% of the stock is currently owned by hedge funds and other institutional investors.
FirstCash Company Profile
FirstCash, Inc, formerly First Cash Financial Services, Inc, is an operator of retail-based pawn stores in the United States and Latin America. The Company’s primary business is the operation of full-service pawn stores, which make small pawn loans secured by personal property, such as consumer electronics, jewelry, power tools, household appliances, sporting goods and musical instruments.
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