Upbound Group (NASDAQ:UPBD) Reaches New 1-Year Low Following Analyst Downgrade

Upbound Group, Inc. (NASDAQ:UPBD) reached a new 52-week low during trading on Friday after Loop Capital lowered their price target on the stock from $33.00 to $30.00. Loop Capital currently has a hold rating on the stock. Upbound Group traded as low as $26.36 and last traded at $26.40, with a volume of 674137 shares. The stock had previously closed at $27.64.

UPBD has been the topic of several other research reports. TD Cowen upgraded Upbound Group to a “strong-buy” rating in a report on Friday, November 29th. Stephens began coverage on Upbound Group in a report on Wednesday, November 13th. They issued an “overweight” rating and a $38.00 target price on the stock. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.67.

Insider Buying and Selling at Upbound Group

In related news, Director Jeffrey J. Brown purchased 1,146 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was acquired at an average price of $29.01 per share, for a total transaction of $33,245.46. Following the completion of the acquisition, the director now owns 86,380 shares of the company’s stock, valued at $2,505,883.80. This represents a 1.34 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Upbound Group

A number of hedge funds have recently bought and sold shares of UPBD. Wellington Management Group LLP lifted its position in shares of Upbound Group by 2,864.5% during the third quarter. Wellington Management Group LLP now owns 405,569 shares of the company’s stock valued at $12,974,000 after purchasing an additional 391,888 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Upbound Group by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,217,880 shares of the company’s stock worth $38,968,000 after buying an additional 54,427 shares in the last quarter. Barclays PLC boosted its stake in shares of Upbound Group by 42.5% in the 3rd quarter. Barclays PLC now owns 316,225 shares of the company’s stock worth $10,116,000 after buying an additional 94,333 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Upbound Group by 130.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 182,397 shares of the company’s stock worth $5,835,000 after buying an additional 103,212 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Upbound Group by 2.2% in the third quarter. State Street Corp now owns 2,028,224 shares of the company’s stock valued at $64,883,000 after acquiring an additional 43,814 shares in the last quarter. 90.30% of the stock is owned by hedge funds and other institutional investors.

Upbound Group Stock Down 4.3 %

The stock has a 50-day moving average of $29.61 and a 200 day moving average of $30.82. The company has a market capitalization of $1.45 billion, a PE ratio of 18.24 and a beta of 2.05. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.02.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings data on Thursday, February 20th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. Upbound Group had a return on equity of 34.15% and a net margin of 1.91%. Sell-side analysts anticipate that Upbound Group, Inc. will post 3.8 EPS for the current year.

Upbound Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Wednesday, December 18th were given a $0.39 dividend. This is a positive change from Upbound Group’s previous quarterly dividend of $0.37. The ex-dividend date was Wednesday, December 18th. This represents a $1.56 annualized dividend and a yield of 5.90%. Upbound Group’s payout ratio is currently 107.59%.

About Upbound Group

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.