FirstCash (NASDAQ:FCFS) Given New $242.00 Price Target at TD Cowen

FirstCash (NASDAQ:FCFS) had its price objective boosted by TD Cowen from $240.00 to $242.00 in a research note issued to investors on Tuesday morning, MarketBeat reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently commented on FCFS. Wall Street Zen raised shares of FirstCash from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Zacks Research downgraded shares of FirstCash from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Stephens restated an “overweight” rating and issued a $250.00 price objective on shares of FirstCash in a research note on Thursday, October 1st. Weiss Ratings cut shares of FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, August 21st. Finally, Loop Capital upgraded shares of FirstCash from a “hold” rating to a “buy” rating and set a $255.00 target price for the company in a research note on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $249.75.

FirstCash Stock Up 0.8%

Shares of NASDAQ FCFS opened at $213.00 on Tuesday. The business has a 50-day moving average price of $216.13 and a 200 day moving average price of $214.64. The stock has a market cap of $9.24 billion, a PE ratio of 24.32 and a beta of 0.55. The company has a quick ratio of 3.51, a current ratio of 4.89 and a debt-to-equity ratio of 1.01. FirstCash has a 52-week low of $146.77 and a 52-week high of $238.93.

FirstCash (NASDAQ:FCFS) last released its quarterly earnings results on Thursday, July 23rd. The company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.39 by $0.11. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. FirstCash had a return on equity of 19.65% and a net margin of 9.42%.The firm’s revenue was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 earnings per share. Equities research analysts forecast that FirstCash will post 11.85 earnings per share for the current year.

FirstCash Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, August 14th. FirstCash’s dividend payout ratio (DPR) is 19.18%.

Insider Activity

In other FirstCash news, CFO R. Orr sold 2,000 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $216.00, for a total transaction of $432,000.00. Following the completion of the transaction, the chief financial officer owned 34,734 shares in the company, valued at approximately $7,502,544. This represents a 5.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James Graves sold 3,750 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $221.20, for a total transaction of $829,500.00. Following the completion of the sale, the director owned 11,929 shares of the company’s stock, valued at $2,638,694.80. This trade represents a 23.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 14,098 shares of company stock valued at $3,051,281. 2.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FirstCash

Several institutional investors and hedge funds have recently added to or reduced their stakes in FCFS. Harbor Investment Advisory LLC acquired a new stake in shares of FirstCash in the 1st quarter valued at approximately $26,000. Geneos Wealth Management Inc. acquired a new position in FirstCash during the first quarter worth $29,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in FirstCash during the second quarter worth $34,000. Assetmark Inc. raised its position in FirstCash by 113.2% in the first quarter. Assetmark Inc. now owns 194 shares of the company’s stock worth $36,000 after acquiring an additional 103 shares in the last quarter. Finally, Root Financial Partners LLC raised its position in FirstCash by 29.6% in the first quarter. Root Financial Partners LLC now owns 245 shares of the company’s stock worth $46,000 after acquiring an additional 56 shares in the last quarter. Institutional investors and hedge funds own 80.30% of the company’s stock.

FirstCash Company Profile

FirstCash Holdings, Inc operates pawn stores and related consumer financial services businesses in the United States and Latin America. Its pawn stores provide collateral-based loans to consumers, while also buying and selling secondhand merchandise such as jewelry, electronics, tools, sporting goods and other personal property.

The company serves customers through pawn locations in the United States and Mexico, as well as selected markets in Central and South America. Its operations are designed to provide short-term, non-recourse credit secured by personal property, along with retail opportunities for value-conscious consumers.