Upbound Group, Inc. (NASDAQ:UPBD) Receives $39.17 Consensus Target Price from Brokerages

Upbound Group, Inc. (NASDAQ:UPBD) has been given an average rating of “Moderate Buy” by the six analysts that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $39.17.

Several research firms have weighed in on UPBD. Jefferies Financial Group lowered their price target on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Tuesday, October 1st. Loop Capital dropped 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. Stephens began coverage on Upbound Group in a report on Wednesday, November 13th. They set an “overweight” rating and a $38.00 target price on the stock. Finally, TD Cowen raised shares of Upbound Group to a “strong-buy” rating in a research report on Friday, November 29th.

Upbound Group Stock Performance

NASDAQ:UPBD opened at $29.20 on Friday. Upbound Group has a twelve month low of $26.50 and a twelve month high of $38.72. The stock has a market cap of $1.60 billion, a P/E ratio of 20.14 and a beta of 2.03. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.02. The business’s 50-day moving average price is $31.60 and its two-hundred day moving average price is $31.62.

Upbound Group (NASDAQ:UPBD) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.06. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. Upbound Group had a return on equity of 34.15% and a net margin of 1.91%. The company’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 earnings per share. As a group, equities analysts predict that Upbound Group will post 3.8 EPS for the current fiscal year.

Upbound Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Wednesday, December 18th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 5.34%. This is an increase from Upbound Group’s previous quarterly dividend of $0.37. The ex-dividend date is Wednesday, December 18th. Upbound Group’s dividend payout ratio (DPR) is presently 107.59%.

Insider Activity

In other Upbound Group news, Director Jeffrey J. Brown acquired 1,065 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were purchased at an average price of $29.25 per share, for a total transaction of $31,151.25. Following the purchase, the director now directly owns 85,234 shares of the company’s stock, valued at approximately $2,493,094.50. This trade represents a 1.27 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 2.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. increased its stake in shares of Upbound Group by 47.9% in the second quarter. Blue Trust Inc. now owns 1,118 shares of the company’s stock worth $34,000 after purchasing an additional 362 shares in the last quarter. Covestor Ltd boosted its stake in Upbound Group by 268.8% during the third quarter. Covestor Ltd now owns 1,136 shares of the company’s stock valued at $37,000 after buying an additional 828 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Upbound Group during the 2nd quarter valued at approximately $42,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Upbound Group in the 2nd quarter worth $89,000. Finally, Quarry LP grew its position in Upbound Group by 374.3% in the third quarter. Quarry LP now owns 3,282 shares of the company’s stock worth $105,000 after acquiring an additional 2,590 shares in the last quarter. Hedge funds and other 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.