Upbound Group (NASDAQ:UPBD) Reaches New 1-Year High – Here’s Why

Upbound Group, Inc. (NASDAQ:UPBD) reached a new 52-week high during trading on Wednesday. The company traded as high as $24.02 and last traded at $23.86, with a volume of 433,038 shares trading hands. The stock had previously closed at $22.46.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Zacks Research raised Upbound Group from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Weiss Ratings downgraded Upbound Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, September 21st. Wall Street Zen lowered Upbound Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. TD Cowen dropped their price objective on Upbound Group from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Finally, BTIG Research lowered Upbound Group from a “buy” rating to a “neutral” rating and set a $28.00 target price on the stock. in a research report on Friday, July 31st. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.00.

Upbound Group Stock Performance

The firm has a market capitalization of $1.40 billion, a P/E ratio of 12.62 and a beta of 1.80. The company’s 50 day moving average is $17.38 and its 200-day moving average is $18.91. The company has a quick ratio of 0.97, a current ratio of 3.17 and a debt-to-equity ratio of 1.80.

Upbound Group (NASDAQ:UPBD) last posted its quarterly earnings results on Thursday, October 29th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.10. Upbound Group had a net margin of 2.36% and a return on equity of 33.81%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. The business’s revenue was down 1.3% compared to the same quarter last year. As a group, equities analysts anticipate that Upbound Group, Inc. will post 4.22 EPS for the current year.

Upbound Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 27th. Shareholders of record on Tuesday, October 6th were paid a dividend of $0.39 per share. The ex-dividend date was Tuesday, October 6th. This represents a $1.56 dividend on an annualized basis and a yield of 6.5%. Upbound Group’s payout ratio is 82.11%.

Insider Buying and Selling

In other news, EVP Anthony Blasquez sold 10,000 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $18.85, for a total value of $188,500.00. Following the completion of the sale, the executive vice president directly owned 43,717 shares of the company’s stock, valued at $824,065.45. This represents a 18.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey Brown acquired 2,764 shares of the business’s stock in a transaction on Tuesday, October 27th. The shares were purchased at an average cost of $17.01 per share, for a total transaction of $47,015.64. Following the completion of the acquisition, the director directly owned 98,898 shares in the company, valued at approximately $1,682,254.98. The trade was a 2.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Upbound Group

Several large investors have recently added to or reduced their stakes in UPBD. Hohimer Wealth Management LLC bought a new stake in shares of Upbound Group during the 3rd quarter worth $158,000. One Way Holdings LLC purchased a new stake in shares of Upbound Group during the third quarter worth about $5,610,000. Vise Technologies Inc. bought a new stake in shares of Upbound Group during the 3rd quarter valued at about $172,000. Summit Global Investments increased its stake in shares of Upbound Group by 5.3% in the 3rd quarter. Summit Global Investments now owns 38,648 shares of the company’s stock worth $607,000 after acquiring an additional 1,948 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of Upbound Group in the 3rd quarter worth about $231,000. Institutional investors own 90.30% of the company’s stock.

Upbound Group Company Profile

Upbound Group, Inc is a provider of consumer leasing and retail solutions, operating primarily through its Rent-A-Center and Acima brands. The company enables customers to obtain merchandise through flexible lease-to-own agreements and related payment options, serving consumers who may prefer alternatives to traditional retail financing.

Its Rent-A-Center business operates company-owned and franchised locations, as well as digital channels, offering furniture, appliances, electronics, computers, smartphones and other household goods.