PROG (NYSE:PRG) Raised to “Strong-Buy” at Zacks Research

PROG (NYSE:PRG) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Raymond James Financial restated an “outperform” rating and set a $45.00 price target on shares of PROG in a report on Thursday, April 30th. KeyCorp increased their price objective on PROG from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday. Weiss Ratings upgraded PROG from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 24th. Jefferies Financial Group raised PROG from a “hold” rating to a “buy” rating and raised their target price for the stock from $33.00 to $60.00 in a research note on Wednesday, July 8th. Finally, Wall Street Zen upgraded PROG from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.44.

PROG Price Performance

PROG stock opened at $43.88 on Thursday. PROG has a 12-month low of $25.80 and a 12-month high of $47.73. The stock has a market cap of $1.76 billion, a P/E ratio of 12.12 and a beta of 1.78. The company has a 50-day moving average price of $41.19 and a 200 day moving average price of $35.44. The company has a current ratio of 4.03, a quick ratio of 2.41 and a debt-to-equity ratio of 1.10.

PROG (NYSE:PRG) last issued its earnings results on Wednesday, July 29th. The fintech holding company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.24. The company had revenue of $719.72 million for the quarter, compared to the consensus estimate of $713.50 million. PROG had a net margin of 5.57% and a return on equity of 21.88%. PROG has set its Q3 2026 guidance at 1.000-1.200 EPS and its FY 2026 guidance at 4.750-5.000 EPS. Sell-side analysts anticipate that PROG will post 4.99 earnings per share for the current year.

Hedge Funds Weigh In On PROG

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in shares of PROG by 19.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,911 shares of the fintech holding company’s stock worth $136,000 after acquiring an additional 468 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in PROG in the 1st quarter valued at approximately $837,000. Bank of America Corp DE increased its holdings in PROG by 4.7% in the 1st quarter. Bank of America Corp DE now owns 151,827 shares of the fintech holding company’s stock valued at $4,356,000 after purchasing an additional 6,760 shares during the last quarter. Amundi raised its position in PROG by 23.6% in the first quarter. Amundi now owns 9,589 shares of the fintech holding company’s stock valued at $275,000 after purchasing an additional 1,832 shares during the period. Finally, California State Teachers Retirement System raised its position in PROG by 27.5% in the first quarter. California State Teachers Retirement System now owns 49,601 shares of the fintech holding company’s stock valued at $1,423,000 after purchasing an additional 10,701 shares during the period. 97.92% of the stock is currently owned by institutional investors and hedge funds.

PROG Company Profile

PROG Holdings, Inc, formerly known as Aaron’s, is a North American provider of lease-to-own and consumer finance solutions. The company operates through two primary segments: Aaron’s Business Solutions and Progressive Financial Services. Through Aaron’s Business Solutions, PROG offers customers access to furniture, electronics, home appliances and technology products via lease ownership arrangements, serving both individual consumers and small businesses.

The Progressive Financial Services segment provides lease-purchase and retail point-of-sale financing programs to customers with limited credit histories.