Zacks Research Downgrades PROG (NYSE:PRG) to Hold

by · The Markets Daily

PROG (NYSE:PRG – Get Free Report) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday, Zacks reports.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group upgraded shares of PROG from a “hold” rating to a “buy” rating and upped their target price for the company from $33.00 to $60.00 in a research note on Wednesday, July 8th. Wall Street Zen downgraded PROG from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of PROG in a report on Monday, September 21st. KeyCorp boosted their price objective on PROG from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Finally, B. Riley Financial upped their price objective on PROG from $57.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.44.

View Our Latest Analysis on PROG

PROG Stock Down 1.5%

Shares of NYSE:PRG opened at $31.46 on Monday. The company has a current ratio of 4.03, a quick ratio of 2.29 and a debt-to-equity ratio of 1.10. The company has a fifty day simple moving average of $39.51 and a 200 day simple moving average of $36.90. The firm has a market cap of $1.25 billion, a PE ratio of 8.69 and a beta of 1.76. PROG has a 12-month low of $25.80 and a 12-month high of $47.73.

PROG (NYSE:PRG – Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The fintech holding company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.24. PROG had a net margin of 5.57% and a return on equity of 21.88%. The firm had revenue of $719.72 million for the quarter, compared to analysts’ expectations of $713.50 million. PROG has set its Q3 2026 guidance at 1.000-1.200 EPS and its FY 2026 guidance at 4.750-5.000 EPS. On average, equities research analysts anticipate that PROG will post 4.93 EPS for the current fiscal year.

Insider Buying and Selling at PROG

In other news, CAO George M. Sewell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $45.53, for a total transaction of $91,060.00. Following the completion of the transaction, the chief accounting officer owned 28,385 shares in the company, valued at approximately $1,292,369.05. This represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael King sold 1,070 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $46.00, for a total transaction of $49,220.00. Following the completion of the sale, the insider directly owned 60,825 shares in the company, valued at approximately $2,797,950. This trade represents a 1.73% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 4,000 shares of company stock valued at $183,060. Corporate insiders own 3.72% of the company’s stock.

Institutional Investors Weigh In On PROG

Several large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new position in shares of PROG during the second quarter worth approximately $1,985,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in PROG in the 2nd quarter valued at approximately $1,552,000. Squarepoint Ops LLC increased its position in PROG by 143.0% in the 2nd quarter. Squarepoint Ops LLC now owns 107,278 shares of the fintech holding company’s stock valued at $5,000,000 after acquiring an additional 63,128 shares during the period. Segall Bryant & Hamill LLC bought a new stake in PROG during the 1st quarter valued at $837,000. Finally, Empowered Funds LLC raised its stake in PROG by 30.4% during the 1st quarter. Empowered Funds LLC now owns 174,335 shares of the fintech holding company’s stock valued at $5,002,000 after acquiring an additional 40,605 shares in the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

About PROG

(Get Free Report)

PROG Holdings, Inc is a financial technology company that provides consumer financing and lease-to-own solutions through its Progressive Leasing business. The company helps consumers obtain merchandise from participating retailers through flexible payment arrangements, including customers who may not qualify for traditional credit.

Progressive Leasing supports in-store, online and omnichannel transactions for products such as furniture, appliances, electronics, mattresses, jewelry and other household goods.

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