Zacks Investment Research upgraded shares of FirstCash (NYSE:FCFS) from a hold rating to a buy rating in a research note released on Friday morning. The firm currently has $79.00 price target on the credit services provider’s stock.
According to Zacks, “FirstCash Inc. is an operator of pawn stores. The company focuses on serving cash and credit constrained consumers through its retail pawn locations, which buy and sell jewelry, consumer electronics, power tools, household appliances, sporting goods, musical instruments and other merchandise. It operates primarily in the U.S., Mexico, Guatemala and El Salvador. FirstCash, Inc., formerly known as First Cash Financial Services Inc., is based in Arlington, United States. “
FCFS has been the topic of a number of other reports. Credit Suisse Group began coverage on shares of FirstCash in a research note on Wednesday, October 4th. They set an outperform rating and a $73.00 price target on the stock. Wedbush set a $75.00 target price on shares of FirstCash and gave the stock a buy rating in a research note on Monday, January 8th. They noted that the move was a valuation call. ValuEngine lowered shares of FirstCash from a buy rating to a hold rating in a research note on Friday, December 1st. BidaskClub upgraded shares of FirstCash from a hold rating to a buy rating in a research note on Thursday, September 28th. Finally, Jefferies Group restated a buy rating and set a $73.00 target price on shares of FirstCash in a research note on Thursday, October 12th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $67.43.
FirstCash (NYSE:FCFS) last issued its quarterly earnings results on Thursday, October 26th. The credit services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. The company had revenue of $435.40 million for the quarter, compared to analyst estimates of $418.57 million. FirstCash had a net margin of 6.41% and a return on equity of 8.45%. The business’s revenue for the quarter was up 66.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.58 earnings per share. equities analysts forecast that FirstCash will post 2.65 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Grandeur Peak Global Advisors LLC acquired a new position in FirstCash in the third quarter valued at approximately $54,801,000. Cornerstone Capital Management Holdings LLC. acquired a new position in FirstCash in the third quarter valued at approximately $1,736,000. Earnest Partners LLC boosted its holdings in FirstCash by 1.6% in the third quarter. Earnest Partners LLC now owns 1,474,115 shares of the credit services provider’s stock valued at $93,090,000 after purchasing an additional 22,690 shares in the last quarter. Insight Capital Research & Management Inc. acquired a new position in FirstCash in the third quarter valued at approximately $913,000. Finally, California Public Employees Retirement System boosted its holdings in FirstCash by 3.9% in the third quarter. California Public Employees Retirement System now owns 166,423 shares of the credit services provider’s stock valued at $10,510,000 after purchasing an additional 6,211 shares in the last quarter. Hedge funds and other institutional investors own 95.69% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “FirstCash (FCFS) Lifted to “Buy” at Zacks Investment Research” was first reported by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this piece of content on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this piece of content can be read at https://stocknewstimes.com/2018/01/15/firstcash-fcfs-lifted-to-buy-at-zacks-investment-research-2.html.
FirstCash, Inc, formerly First Cash Financial Services, Inc, is an operator of retail-based pawn stores in the United States and Latin America. The Company’s primary business is the operation of full-service pawn stores, which make small pawn loans secured by personal property, such as consumer electronics, jewelry, power tools, household appliances, sporting goods and musical instruments.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for FirstCash Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstCash and related companies with MarketBeat.com's FREE daily email newsletter.