Jefferies Financial Group Trims Upbound Group (NASDAQ:UPBD) Target Price to $35.00

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

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

Upbound Group Stock Up 4.0 %

Shares of Upbound Group stock opened at $29.79 on Tuesday. Upbound Group has a one year low of $25.00 and a one year high of $38.72. The company has a debt-to-equity ratio of 2.21, a current ratio of 3.96 and a quick ratio of 0.84. The stock’s 50-day moving average is $31.95 and its 200 day moving average is $32.11. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -64.76 and a beta of 2.00.

Upbound Group (NASDAQ:UPBD) last announced 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 return on equity of 32.94% and a net margin of 1.31%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company earned $1.11 EPS. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities research analysts anticipate that Upbound Group will post 3.81 EPS for the current year.

Upbound Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st will be issued a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.97%. Upbound Group’s dividend payout ratio is presently -321.74%.

Insider Activity

In other news, EVP Transient C. Taylor sold 15,127 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 in the company, valued at $498,134. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Transient C. Taylor sold 15,127 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 in the company, valued at $498,134. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ralph T. Montrone sold 15,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $32.48, for a total value of $487,200.00. Following the sale, the executive vice president now directly owns 40,074 shares of the company’s stock, valued at $1,301,603.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

Institutional Trading of Upbound Group

A number of institutional investors and hedge funds have recently modified their holdings of UPBD. Norges Bank purchased a new stake in shares of Upbound Group during the fourth quarter valued at approximately $12,170,000. Allianz Asset Management GmbH increased its position in Upbound Group by 108.6% in the fourth quarter. Allianz Asset Management GmbH now owns 61,573 shares of the company’s stock worth $2,092,000 after buying an additional 32,055 shares during the last quarter. TFO Wealth Partners LLC increased its position in Upbound Group by 44,716.7% in the fourth quarter. TFO Wealth Partners LLC now owns 2,689 shares of the company’s stock worth $91,000 after buying an additional 2,683 shares during the last quarter. Clear Street Markets LLC purchased a new stake in Upbound Group in the fourth quarter worth $139,000. Finally, Bragg Financial Advisors Inc increased its position in Upbound Group by 14.4% in the fourth quarter. Bragg Financial Advisors Inc now owns 242,613 shares of the company’s stock worth $8,242,000 after buying an additional 30,513 shares during the last quarter. 90.30% of the stock is owned by hedge funds and other 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.