Rent-A-Center Inc (RCII) is Initiated by Jefferies to Hold, Price Target at $10

Rent-A-Center Inc (RCII) was Initiated by Jefferies to “Hold” and the brokerage firm has set the Price Target at $10. Jefferies advised their investors in a research report released on Oct 13, 2016.

On the company’s financial health, Rent-A-Center Inc reported $0.41 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.49. The company had revenue of $749.60 million for the quarter, compared to analysts expectations of $781.98 million. The company’s revenue was down -8.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.50 EPS.

Rent-A-Center Inc closed down -3.7 points or -28.73% at $9.18 with 1,19,86,269 shares getting traded on Tuesday. Post opening the session at $8.4, the shares hit an intraday low of $8 and an intraday high of $9.42 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Aug 1, 2016, Robert Dale Davis (CEO) purchased 10,000 shares at $10.87 per share price. According to the SEC, on May 3, 2016, Jeffery M Jackson (director) purchased 1,400 shares at $14.87 per share price. On Nov 23, 2015, Mark E. Denman (EVP – Acceptance Now) purchased 1,270 shares at $16.84 per share price, according to the Form-4 filing with the securities and exchange commission.

Rent-A-Center Inc. is a rent-to-own operator in North America. The Company provides an opportunity to obtain ownership of products such as consumer electronics appliances computers (including tablets and smartphones) furniture and accessories under rental purchase agreements. The Company operates in four segments: Core U.S. Acceptance Now Mexico and Franchising. The Company offers brands such as LG Samsung Sony Toshiba and Vizio home electronics; Whirlpool appliances; Acer Apple Asus Dell Hewlett-Packard Samsung Sony and Toshiba computers and/or tablets; Samsung and HTC smartphones; and Albany Ashley England Klaussner Lane Standard and Welton furniture. Consumer electronic products offered by its stores include high definition televisions and stereos among others; appliances include refrigerators freezers washing machines dryers and ranges; furniture products include dining room living room and bedroom furniture and accessories include lamps and tables.

Rent-A-Center Inc

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