Upbound Group (NASDAQ:UPBD) PT Lowered to $35.00 at Jefferies Financial Group

Upbound Group (NASDAQ:UPBD) had its price objective trimmed by Jefferies Financial Group from $37.00 to $35.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other equities research analysts have also recently issued reports on UPBD. Loop Capital reiterated a hold rating and set a $36.00 target price on shares of Upbound Group in a research report on Friday, September 13th. BTIG Research began coverage on shares of Upbound Group in a research report on Friday, June 7th. They set a buy rating and a $45.00 target price for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $40.00.

Upbound Group Price Performance

NASDAQ UPBD opened at $28.65 on Tuesday. The company has a current ratio of 3.96, a quick ratio of 0.84 and a debt-to-equity ratio of 2.21. The company has a fifty day simple moving average of $32.24 and a 200 day simple moving average of $32.15. The company has a market cap of $1.57 billion, a P/E ratio of -62.28 and a beta of 2.00. Upbound Group has a 1 year low of $25.00 and a 1 year high of $38.72.

Upbound Group (NASDAQ:UPBD) last released its earnings results on Thursday, August 1st. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.03 by $0.01. Upbound Group had a net margin of 1.31% and a return on equity of 32.94%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company earned $1.11 EPS. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts predict that Upbound Group will post 3.81 EPS for the current year.

Upbound Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date of this dividend is Tuesday, October 1st. Upbound Group’s dividend payout ratio is currently -321.74%.

Insiders Place Their Bets

In related news, Director Jeffrey J. Brown acquired 1,031 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were purchased at an average price of $29.82 per share, with a total value of $30,744.42. Following the acquisition, the director now directly owns 84,169 shares in the company, valued at $2,509,919.58. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Transient C. Taylor sold 15,127 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $34.00, for a total value of $514,318.00. Following the transaction, the executive vice president now owns 14,651 shares of the company’s stock, valued at approximately $498,134. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey J. Brown bought 1,031 shares of Upbound Group stock in a transaction dated Tuesday, July 9th. The stock was acquired at an average cost of $29.82 per share, for a total transaction of $30,744.42. Following the purchase, the director now directly owns 84,169 shares in the company, valued at approximately $2,509,919.58. The disclosure for this purchase can be found here. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in shares of Upbound Group in the 3rd quarter valued at about $142,000. Sanctuary Advisors LLC bought a new position in shares of Upbound Group in the 2nd quarter valued at about $257,000. Aristides Capital LLC bought a new position in shares of Upbound Group in the 2nd quarter valued at about $213,000. The Manufacturers Life Insurance Company boosted its stake in Upbound Group by 5.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,123 shares of the company’s stock worth $802,000 after acquiring an additional 1,317 shares during the last quarter. Finally, Caxton Associates LP bought a new position in Upbound Group during the 2nd quarter worth approximately $956,000. Institutional investors own 90.30% of the company’s stock.

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.