FirstCash (NYSE:FCFS) Raised to “Hold” at Zacks Investment Research

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FirstCash (NYSE:FCFS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday, 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. “

Separately, JMP Securities downgraded FirstCash from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 24th.

Shares of FirstCash stock remained flat at $$85.32 during trading on Friday. The company had a trading volume of 165,693 shares, compared to its average volume of 269,823. FirstCash has a 12-month low of $78.10 and a 12-month high of $106.80. The business’s 50-day simple moving average is $84.77 and its 200 day simple moving average is $88.02.

FirstCash (NYSE:FCFS) last posted its quarterly earnings results on Wednesday, January 29th. The credit services provider reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.02. The business had revenue of $498.40 million during the quarter, compared to analysts’ expectations of $495.98 million. During the same quarter last year, the firm earned $1.12 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Resources Management Corp CT ADV purchased a new stake in FirstCash during the third quarter worth $25,000. Cullen Frost Bankers Inc. boosted its position in FirstCash by 457.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 468 shares of the credit services provider’s stock worth $38,000 after purchasing an additional 384 shares in the last quarter. Evoke Wealth LLC purchased a new stake in FirstCash during the third quarter worth $48,000. First Bank & Trust boosted its position in FirstCash by 384.7% during the fourth quarter. First Bank & Trust now owns 950 shares of the credit services provider’s stock worth $77,000 after purchasing an additional 754 shares in the last quarter. Finally, Point72 Hong Kong Ltd boosted its position in FirstCash by 141.3% during the fourth quarter. Point72 Hong Kong Ltd now owns 1,069 shares of the credit services provider’s stock worth $86,000 after purchasing an additional 626 shares in the last quarter. 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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