Rent A Center (RCII) NewsBite - RCII Downgraded By Stifel Nicolaus

Posted: Wednesday, June 10, 2009 2:09 PM EDT

Rent A Center (RCII) was downgraded today by analysts at Stifel Nicolaus and the stock is now at $18.61, down $1.31 (-6.58%) on volume of 978,388 shares traded. The brokerage downgraded the stock to Hold from Buy. Over the last 52 weeks the stock has ranged from a low of $9.97 to a high of $26.00. Rent A Center stock has been showing support around $19.43 and resistance in the $20.57 range. Technical indicators for the stock are neutral and S&P does not currently have a STARS rating for RCII. If you are looking for a hedged play on RCII the stock seems like it could be a candidate for a September out-of-the-money bear-call credit spread above the 22.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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