Upbound Group (NASDAQ:UPBD) Hits New 12-Month Low on Analyst Downgrade

Upbound Group, Inc. (NASDAQ:UPBD)’s share price reached a new 52-week low during mid-day 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 changing hands. The stock had previously closed at $27.64.

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

Insider Transactions at Upbound Group

In related news, Director Jeffrey J. Brown bought 1,146 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was bought at an average cost of $29.01 per share, for a total transaction of $33,245.46. Following the purchase, the director now directly owns 86,380 shares of the company’s stock, valued at approximately $2,505,883.80. This trade represents a 1.34 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Upbound Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP grew its stake in Upbound Group by 2,864.5% during the 3rd 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 during the last quarter. Kennedy Capital Management LLC acquired a new stake in Upbound Group during the 4th quarter valued at approximately $10,214,000. Marshall Wace LLP boosted its holdings in shares of Upbound Group by 333.9% in the 4th quarter. Marshall Wace LLP now owns 350,949 shares of the company’s stock valued at $10,237,000 after acquiring an additional 270,064 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Upbound Group by 171.9% in the fourth quarter. Victory Capital Management Inc. now owns 267,618 shares of the company’s stock worth $7,806,000 after acquiring an additional 169,197 shares during the period. Finally, Brandywine Global Investment Management LLC purchased a new position in shares of Upbound Group during the fourth quarter worth $4,883,000. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Upbound Group Stock Down 3.9 %

The business’s 50-day moving average is $29.50 and its 200-day moving average is $30.77. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 12.02 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 2.08.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings results on Thursday, February 20th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.02. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Upbound Group had a return on equity of 35.47% and a net margin of 2.86%. As a group, equities analysts predict that Upbound Group, Inc. will post 4.28 earnings per share for the current year.

Upbound Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Wednesday, December 18th were issued a $0.39 dividend. This is a boost from Upbound Group’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.56 dividend on an annualized basis and a yield of 5.87%. Upbound Group’s payout ratio is presently 70.59%.

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.