PROG Holdings Inc. [PRG] is -63.27% lower this YTD. Is it still time to buy?


PROG Holdings Inc. [NYSE: PRG] loss -30.90% on the last trading session, reaching $16.57 price per share at the time. The company report on June 16, 2022 that PROG Holdings Provides Second Quarter Update and Revised Full Year Outlook.

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PROG Holdings, Inc. (NYSE:PRG), the fintech holding company for Progressive Leasing, Vive Financial, and Four Technologies, today provided an estimate of several second quarter performance metrics as well as an update to its 2022 full year outlook. These estimates reflect a challenging operating environment as U.S. inflation levels, particularly in gas, food, and housing, create pressure on the Company’s lease portfolio performance and GMV production.

Since the Company issued its first quarter results on April 27, 2022, the macro environment has deteriorated further, resulting in increased delinquencies and higher write-offs within Progressive Leasing’s lease portfolio. Because the Company anticipates a challenging and volatile macro environment for the remainder of the year, it has further tightened its lease decisioning, which the Company expects will adversely impact GMV in the second quarter and full-year 2022. Progressive Leasing has made decisioning changes several times since the beginning of February, resulting in a reduction in approval rates of several hundred basis points.

PROG Holdings Inc. represents 55.40 million in outstanding shares, while the company has a total market value of $941.84 million with the latest information. PRG stock price has been found in the range of $16.22 to $21.39.

If compared to the average trading volume of 993.51K shares, PRG reached a trading volume of 3178482 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about PROG Holdings Inc. [PRG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PRG shares is $44.29 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PRG stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for PROG Holdings Inc. is set at 1.83, with the Price to Sales ratio for PRG stock in the period of the last 12 months amounting to 0.35. The Price to Book ratio for the last quarter was 1.45, with the Price to Cash per share for the same quarter was set at 3.24. Price to Free Cash Flow for PRG in the course of the last twelve months was 5.63.

Trading performance analysis for PRG stock

PROG Holdings Inc. [PRG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -40.16. With this latest performance, PRG shares dropped by -41.16% in over the last four-week period, additionally sinking by -63.32% over the last 6 months – not to mention a drop of -66.79% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PRG stock in for the last two-week period is set at 21.11, with the RSI for the last a single of trading hit 13.65, and the three-weeks RSI is set at 26.45 for PROG Holdings Inc. [PRG]. The present Moving Average for the last 50 days of trading for this stock 26.96, while it was recorded at 23.18 for the last single week of trading, and 37.26 for the last 200 days.

PROG Holdings Inc. [PRG]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and PROG Holdings Inc. [PRG] shares currently have an operating margin of +12.45 and a Gross Margin at +30.76. PROG Holdings Inc.’s Net Margin is presently recorded at +9.10.

Return on Equity for this stock inclined to 29.25, with Return on Assets sitting at 16.57.

PROG Holdings Inc. [PRG]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PRG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for PROG Holdings Inc. go to 21.00%.

An analysis of insider ownership at PROG Holdings Inc. [PRG]

There are presently around $1,395 million, in the hands of institutional investors. The top three institutional holders of PRG stocks are: BLACKROCK INC. with ownership of 7,144,745, which is approximately -6.195% of the company’s market cap and around 1.30% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 5,734,770 shares of the stock with an approximate value of $137.52 million in PRG stocks shares; and VANGUARD GROUP INC, currently with $132.54 million in PRG stock with ownership of nearly -1.631% of the company’s market capitalization.

Positions in PROG Holdings Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 110 institutional holders increased their position in PROG Holdings Inc. [NYSE:PRG] by around 7,755,500 shares. Additionally, 145 investors decreased positions by around 8,733,480 shares, while 26 investors held positions by with 41,670,153 shares. The mentioned changes placed institutional holdings at 58,159,133 shares, according to the latest SEC report filing. PRG stock had 34 new institutional investments in for a total of 2,445,965 shares, while 53 institutional investors sold positions of 2,282,772 shares during the same period.