Stephens Initiates Coverage on Upbound Group (NASDAQ:UPBD)

Stephens started coverage on shares of Upbound Group (NASDAQ:UPBD) in a research report report published on Wednesday morning, Marketbeat reports. The firm issued an overweight rating and a $38.00 price objective on the stock.

UPBD has been the topic of a number of other research reports. Jefferies Financial Group decreased their price objective on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Tuesday, October 1st. Loop Capital cut their price target on Upbound Group from $36.00 to $33.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Upbound Group has an average rating of “Moderate Buy” and an average target price of $39.17.

Upbound Group Price Performance

Shares of NASDAQ:UPBD opened at $33.09 on Wednesday. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 22.82 and a beta of 2.01. Upbound Group has a one year low of $26.50 and a one year high of $38.72. The company has a 50-day simple moving average of $30.15 and a 200-day simple moving average of $31.50. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.86 and a current ratio of 3.66.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.04 billion. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. Upbound Group’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 EPS. On average, analysts predict that Upbound Group will post 3.79 EPS for the current year.

Upbound Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.47%. The ex-dividend date was Tuesday, October 1st. Upbound Group’s payout ratio is 102.07%.

Insider Activity at Upbound Group

In other news, EVP Transient C. Taylor sold 15,127 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $34.00, for a total transaction of $514,318.00. Following the transaction, the executive vice president now directly owns 14,651 shares in the company, valued at $498,134. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Jeffrey J. Brown acquired 1,065 shares of the stock in a transaction on Tuesday, October 22nd. The stock was bought at an average price of $29.25 per share, with a total value of $31,151.25. Following the completion of the transaction, the director now directly owns 85,234 shares of the company’s stock, valued at $2,493,094.50. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Transient C. Taylor sold 15,127 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $34.00, for a total transaction of $514,318.00. Following the completion of the transaction, the executive vice president now owns 14,651 shares of the company’s stock, valued at $498,134. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Upbound Group

Several large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Upbound Group by 232.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,640 shares of the company’s stock worth $58,000 after purchasing an additional 1,146 shares during the period. Texas Permanent School Fund Corp lifted its holdings in Upbound Group by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 38,965 shares of the company’s stock worth $1,372,000 after acquiring an additional 522 shares during the last quarter. Quantbot Technologies LP acquired a new position in Upbound Group in the first quarter valued at approximately $330,000. SG Americas Securities LLC bought a new position in shares of Upbound Group during the first quarter valued at approximately $112,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Upbound Group during the 1st quarter worth approximately $29,000. Institutional investors own 90.30% of the company’s stock.

Upbound Group Company Profile

Upbound Group, Inc leases household durable goods to customers on a lease-to-own basis in the United States, Puerto Rico, and Mexico. It operates through four segments: Rent-A-Center, Acima, Mexico, and Franchising. The company's brands, such as Rent-A-Center and Acima that facilitate consumer transactions across a range of store-based and virtual channels.