Upbound Group (NASDAQ:UPBD) Reaches New 1-Year High at $36.83

Upbound Group, Inc. (NASDAQ:UPBD)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $36.83 and last traded at $36.83, with a volume of 50862 shares changing hands. The stock had previously closed at $35.49.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Jefferies Financial Group lowered their price target on shares of Upbound Group from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, July 10th. BTIG Research initiated coverage on shares of Upbound Group in a report on Friday, June 7th. They issued a “buy” rating and a $45.00 price objective for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Upbound Group currently has an average rating of “Moderate Buy” and a consensus target price of $40.17.

Upbound Group Price Performance

The company has a current ratio of 3.49, a quick ratio of 0.72 and a debt-to-equity ratio of 2.23. The stock’s fifty day simple moving average is $31.71 and its 200-day simple moving average is $32.51.

Upbound Group (NASDAQ:UPBD) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.05 billion. Upbound Group had a positive return on equity of 33.40% and a negative net margin of 0.61%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 earnings per share. As a group, equities analysts anticipate that Upbound Group, Inc. will post 3.74 EPS for the current fiscal year.

Upbound Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Tuesday, June 18th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend was Tuesday, June 18th. Upbound Group’s dividend payout ratio is currently -321.74%.

Insider Activity at Upbound Group

In other news, Director Jeffrey J. Brown purchased 1,031 shares of the stock in a transaction that occurred on Tuesday, July 9th. The shares were purchased at an average cost of $29.82 per share, for a total transaction of $30,744.42. Following the completion of the purchase, the director now directly owns 84,169 shares of the company’s stock, valued at approximately $2,509,919.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Upbound Group

Institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in shares of Upbound Group during the 1st quarter valued at about $29,000. Blue Trust Inc. grew its stake in shares of Upbound Group by 47.9% in the 2nd quarter. Blue Trust Inc. now owns 1,118 shares of the company’s stock valued at $34,000 after purchasing an additional 362 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Upbound Group by 232.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,640 shares of the company’s stock valued at $58,000 after purchasing an additional 1,146 shares during the period. Wetzel Investment Advisors Inc. bought a new stake in shares of Upbound Group in the 4th quarter valued at approximately $68,000. Finally, TFO Wealth Partners LLC grew its stake in shares of Upbound Group by 44,716.7% in the 4th quarter. TFO Wealth Partners LLC now owns 2,689 shares of the company’s stock valued at $91,000 after purchasing an additional 2,683 shares during the period. Institutional investors and hedge funds own 90.30% of the company’s stock.

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.