Zacks Investment Research Lowers FirstCash (NYSE:FCFS) to Sell

Zacks Investment Research lowered shares of FirstCash (NYSE:FCFS) from a hold rating to a sell rating in a research report released on Tuesday morning, Zacks.com reports.

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. “

A number of other research firms have also issued reports on FCFS. Barclays reiterated a hold rating and set a $23.00 target price on shares of Cypress Semiconductor in a report on Thursday, June 6th. Jefferies Financial Group set a €110.00 ($127.91) target price on shares of Airbus and gave the stock a buy rating in a report on Friday, June 14th. Finally, JMP Securities reduced their target price on shares of Tesla from $374.00 to $369.00 and set a market outperform rating on the stock in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $106.00.

Shares of FCFS stock opened at $101.47 on Tuesday. The business has a 50 day moving average of $98.40. FirstCash has a one year low of $66.28 and a one year high of $103.83.

FirstCash (NYSE:FCFS) last issued its quarterly earnings data on Wednesday, April 24th. The credit services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.89 by $0.08. The company had revenue of $467.60 million during the quarter, compared to analyst estimates of $453.90 million. The business’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 earnings per share.

In other FirstCash news, CFO R Douglas Orr sold 7,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $96.94, for a total value of $727,050.00. Following the sale, the chief financial officer now directly owns 142,500 shares of the company’s stock, valued at approximately $13,813,950. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.83% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its position in shares of FirstCash by 6.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,304 shares of the credit services provider’s stock valued at $311,000 after buying an additional 265 shares during the last quarter. New York State Common Retirement Fund boosted its stake in FirstCash by 0.3% during the 1st quarter. New York State Common Retirement Fund now owns 437,964 shares of the credit services provider’s stock worth $37,884,000 after purchasing an additional 1,400 shares during the period. Texas Permanent School Fund boosted its stake in FirstCash by 3.1% during the 1st quarter. Texas Permanent School Fund now owns 29,580 shares of the credit services provider’s stock worth $2,559,000 after purchasing an additional 897 shares during the period. Bank of America Corp DE boosted its stake in FirstCash by 5.8% during the 4th quarter. Bank of America Corp DE now owns 757,055 shares of the credit services provider’s stock worth $54,772,000 after purchasing an additional 41,815 shares during the period. Finally, Norges Bank acquired a new stake in FirstCash during the 4th quarter worth $45,598,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

About FirstCash

FirstCash, Inc operates retail-based pawn and consumer finance stores in the United States and Mexico. Its pawn stores lend money on the collateral of pledged personal property, including consumer electronics, jewelry, power tools, household appliances, sporting goods, and musical instruments; and retails previously owned merchandise acquired through pawn forfeitures, as well as through purchases from the general public.

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