FirstCash (FCFS) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of FirstCash (NYSE:FCFS) from a sell rating to a hold rating in a research note published on Tuesday, Zacks.com reports.

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. “

Shares of FCFS opened at $88.89 on Tuesday. FirstCash has a 52-week low of $66.28 and a 52-week high of $95.40.

FirstCash (NYSE:FCFS) last issued its quarterly earnings data on Thursday, January 31st. The credit services provider reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.01. The business had revenue of $481.21 million during the quarter, compared to analyst estimates of $489.76 million.

In related news, Director Daniel R. Feehan sold 3,907 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $89.66, for a total value of $350,301.62. Following the transaction, the director now owns 56,008 shares in the company, valued at $5,021,677.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO R Douglas Orr sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $90.00, for a total transaction of $450,000.00. Following the completion of the transaction, the chief financial officer now owns 150,000 shares in the company, valued at approximately $13,500,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,500 shares of company stock worth $2,004,554. Insiders own 2.83% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in shares of FirstCash by 6.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,304 shares of the credit services provider’s stock worth $311,000 after buying an additional 265 shares in the last quarter. Kepos Capital LP acquired a new position in FirstCash in the fourth quarter worth $1,386,000. Legal & General Group Plc boosted its holdings in FirstCash by 5.4% in the third quarter. Legal & General Group Plc now owns 108,096 shares of the credit services provider’s stock worth $8,868,000 after purchasing an additional 5,560 shares during the period. Vanguard Group Inc. boosted its holdings in FirstCash by 1.1% in the third quarter. Vanguard Group Inc. now owns 4,466,507 shares of the credit services provider’s stock worth $366,254,000 after purchasing an additional 49,593 shares during the period. Finally, IndexIQ Advisors LLC boosted its holdings in FirstCash by 3.9% in the third quarter. IndexIQ Advisors LLC now owns 27,978 shares of the credit services provider’s stock worth $2,294,000 after purchasing an additional 1,057 shares during the period. Institutional investors own 95.30% of the company’s stock.

FirstCash Company Profile

FirstCash, Inc operates retail-based pawn and consumer finance stores in the United States and Mexico. Its pawn stores lend money on the collateral of pledged personal property, including consumer electronics, jewelry, power tools, household appliances, sporting goods, and musical instruments; and retails previously owned merchandise acquired through pawn forfeitures, as well as through purchases from the general public.

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Analyst Recommendations for FirstCash (NYSE:FCFS)

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