Upbound Group, Inc. (NASDAQ:UPBD) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Upbound Group, Inc. (NASDAQ:UPBD) have been given an average recommendation of “Moderate Buy” by the six research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $39.17.

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

Upbound Group Trading Up 2.5 %

NASDAQ UPBD opened at $30.15 on Friday. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 20.79 and a beta of 2.03. The business’s fifty day moving average is $31.63 and its 200-day moving average is $31.72. The company has a debt-to-equity ratio of 2.02, a current ratio of 3.66 and a quick ratio of 0.86. Upbound Group has a one year low of $26.50 and a one year high of $38.72.

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

Upbound Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Wednesday, December 18th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This is a boost from Upbound Group’s previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a dividend yield of 5.17%. Upbound Group’s dividend payout ratio is currently 107.59%.

Insider Activity

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

Hedge Funds Weigh In On Upbound Group

A number of institutional investors have recently added to or reduced their stakes in UPBD. Ieq Capital LLC boosted its position in shares of Upbound Group by 112.7% during the 2nd quarter. Ieq Capital LLC now owns 4,827,021 shares of the company’s stock valued at $148,190,000 after acquiring an additional 2,557,906 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Upbound Group by 2,864.5% in the 3rd quarter. Wellington Management Group LLP now owns 405,569 shares of the company’s stock worth $12,974,000 after purchasing an additional 391,888 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Upbound Group by 1,903.6% in the 2nd quarter. Marshall Wace LLP now owns 395,888 shares of the company’s stock worth $12,154,000 after purchasing an additional 376,129 shares in the last quarter. Huber Capital Management LLC raised its holdings in shares of Upbound Group by 51.4% during the 2nd quarter. Huber Capital Management LLC now owns 745,299 shares of the company’s stock valued at $22,881,000 after buying an additional 253,104 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in Upbound Group in the 2nd quarter worth approximately $5,607,000. 90.30% of the stock is currently owned by institutional investors.

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.