StockNews.com Initiates Coverage on Aaron’s (NYSE:AAN)

by · The Markets Daily

StockNews.com started coverage on shares of Aaron’s (NYSE:AAN – Free Report) in a research note released on Tuesday. The brokerage issued a hold rating on the stock.

A number of other analysts have also recently commented on the stock. Loop Capital upped their price target on shares of Aaron’s from $8.00 to $10.00 and gave the company a hold rating in a research note on Tuesday, June 18th. Jefferies Financial Group reaffirmed a hold rating and issued a $10.10 price target (down from $11.00) on shares of Aaron’s in a report on Wednesday, July 10th. TD Cowen boosted their price objective on Aaron’s from $8.00 to $10.10 and gave the company a hold rating in a research note on Monday, June 17th. BTIG Research initiated coverage on shares of Aaron’s in a report on Friday, June 7th. They issued a neutral rating for the company. Finally, Truist Financial upped their price target on shares of Aaron’s from $8.00 to $10.10 and gave the stock a hold rating in a report on Tuesday, June 18th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Aaron’s currently has a consensus rating of Hold and an average price target of $9.46.

Read Our Latest Stock Report on Aaron’s

Aaron’s Stock Performance

Shares of AAN stock opened at $10.09 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.70 and a current ratio of 1.02. The firm has a market cap of $318.06 million, a price-to-earnings ratio of -12.77 and a beta of 1.43. Aaron’s has a 52 week low of $6.62 and a 52 week high of $11.90. The firm’s 50-day simple moving average is $10.04 and its two-hundred day simple moving average is $8.85.

Aaron’s (NYSE:AAN – Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). The company had revenue of $503.10 million during the quarter, compared to the consensus estimate of $513.91 million. Aaron’s had a negative return on equity of 2.08% and a negative net margin of 2.06%. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period last year, the firm posted $0.39 EPS. As a group, equities analysts forecast that Aaron’s will post -0.01 earnings per share for the current year.

Aaron’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th were issued a $0.125 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.50 annualized dividend and a dividend yield of 4.96%. Aaron’s’s dividend payout ratio is currently -63.29%.

Institutional Trading of Aaron’s

A number of institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA boosted its holdings in shares of Aaron’s by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 31,781 shares of the company’s stock worth $317,000 after purchasing an additional 1,065 shares during the period. Rhumbline Advisers grew its position in shares of Aaron’s by 3.0% in the 2nd quarter. Rhumbline Advisers now owns 52,539 shares of the company’s stock worth $524,000 after buying an additional 1,553 shares during the last quarter. Verity Asset Management Inc. increased its stake in shares of Aaron’s by 15.8% during the first quarter. Verity Asset Management Inc. now owns 19,732 shares of the company’s stock valued at $148,000 after buying an additional 2,695 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Aaron’s by 2.3% during the first quarter. Russell Investments Group Ltd. now owns 166,590 shares of the company’s stock valued at $1,249,000 after acquiring an additional 3,772 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Aaron’s by 314.4% during the second quarter. GAMMA Investing LLC now owns 5,101 shares of the company’s stock valued at $51,000 after acquiring an additional 3,870 shares in the last quarter. Hedge funds and other institutional investors own 91.99% of the company’s stock.

About Aaron’s

(Get Free Report)

Headquartered in Atlanta, The Aaron’s Company, Inc (NYSE: AAN) is a leading, technology-enabled, omnichannel provider of lease-purchase solutions. Aaron’s engages in direct-to-consumer sales and lease ownership of furniture, appliances, consumer electronics and accessories through its approximately 1,300 company-operated and franchised stores in 47 states and Canada, as well as its e-commerce platform, Aarons.com.

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