Price Action Don’t Lie: FirstCash Inc on Focus After Gap Up In Today’s Session

Price Action Don't Lie: FirstCash Inc on Focus After Gap Up In Today's Session

The stock of FirstCash Inc (NYSE:FCFS) gapped up by $0.89 today and has $73.64 target or 50.00% above today’s $49.09 share price. The 8 months technical chart setup indicates low risk for the $1.41 billion company. The gap was reported on Oct, 4 by Barchart.com. If the $73.64 price target is reached, the company will be worth $705.00M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 4.27% or $2.01 during the last trading session, hitting $49.09. About 699,442 shares traded hands or 143.38% up from the average. FirstCash Inc (NYSE:FCFS) has risen 15.40% since March 1, 2016 and is uptrending. It has outperformed by 3.18% the S&P500.

Analysts await FirstCash Inc (NYSE:FCFS) to report earnings on October, 18. They expect $0.57 EPS, down 3.39% or $0.02 from last year’s $0.59 per share. FCFS’s profit will be $16.37 million for 21.53 P/E if the $0.57 EPS becomes a reality. After $0.51 actual EPS reported by FirstCash Inc for the previous quarter, Wall Street now forecasts 11.76% EPS growth.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 1.37 in 2016 Q2. Its up 0.34, from 1.03 in 2016Q1. The ratio improved, as 13 funds sold all FirstCash Inc shares owned while 36 reduced positions. 16 funds bought stakes while 51 increased positions. They now own 23.29 million shares or 0.86% less from 23.49 million shares in 2016Q1.
Washington Trust National Bank has 34 shares for 0% of their US portfolio. State Of Tennessee Treasury Department last reported 0.01% of its portfolio in the stock. D E Shaw & Inc holds 0% or 7,379 shares in its portfolio. First Tru Lp owns 14,646 shares or 0% of their US portfolio. Fmr Llc reported 1.26 million shares or 0.01% of all its holdings. New York State Common Retirement Fund accumulated 29,000 shares or 0% of the stock. Blackrock Mngmt Limited has invested 0.01% of its portfolio in FirstCash Inc (NYSE:FCFS). The New York-based Jane Street Group Inc Ltd has invested 0% in FirstCash Inc (NYSE:FCFS). Qs Investors Ltd Com reported 7 shares or 0% of all its holdings. Fuller Thaler Asset Inc owns 225 shares or 0% of their US portfolio. Envestnet Asset Management holds 2,945 shares or 0% of its portfolio. Quantbot Techs L P has 0.01% invested in the company for 1,725 shares. Hl Limited accumulated 40,837 shares or 0.05% of the stock. Invesco Limited reported 63,798 shares or 0% of all its holdings. Gemmer Asset Mgmt Ltd Liability Co accumulated 1,546 shares or 0.04% of the stock.

More recent FirstCash Inc (NYSE:FCFS) news were published by: Globenewswire.com which released: “First Cash Financial Services, Inc. Announces Transfer to NYSE” on August 19, 2016. Also Benzinga.com published the news titled: “Benzinga’s Top Upgrades” on October 03, 2016. Bloomberg.com‘s news article titled: “First Cash to Buy Cash America for $994 Million in Pawn Deal” with publication date: April 28, 2016 was also an interesting one.

FCFS Company Profile

FirstCash, Inc., formerly First Cash Financial Services, Inc., incorporated on April 24, 1991, is an operator of retail pawn stores in the United States and Mexico. The Company’s primary business is the operation of pawn stores, which make small pawn loans secured by personal property. The Company’s pawn stores generate retail sales from the merchandise acquired through collateral forfeitures and over-the-counter purchases from customers. The Company’s pawn stores are a source for small consumer loans to help clients meet their short-term cash needs. In addition, some of the Company’s pawn stores offer small consumer loans or credit services products. As of December 31, 2015, the Company had 1,075 locations, consisting of 338 stores across 14 states of the United States, 705 stores across 29 states in Mexico and 32 stores in Guatemala. It operates a number of standalone consumer finance stores in Texas and Mexico, which provide consumer financial services products, including credit services and small unsecured consumer loans.

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