Aaron’s (NYSE:AAN) Price Target Increased to $10.10 by Analysts at TD Cowen

Aaron’s (NYSE:AAN) had its target price increased by TD Cowen from $8.00 to $10.10 in a research note published on Monday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other equities analysts also recently weighed in on AAN. BTIG Research began coverage on Aaron’s in a research note on Friday, June 7th. They issued a neutral rating on the stock. StockNews.com cut Aaron’s from a buy rating to a hold rating in a research report on Friday, June 7th. Stifel Nicolaus reaffirmed a hold rating and set a $7.00 target price on shares of Aaron’s in a research report on Monday, March 11th. Finally, Truist Financial lowered their target price on Aaron’s from $9.00 to $8.00 and set a hold rating on the stock in a research note on Wednesday, May 8th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Aaron’s presently has an average rating of Hold and a consensus target price of $12.02.

Aaron’s Stock Up 33.4 %

Shares of NYSE:AAN opened at $10.06 on Monday. The stock has a market cap of $308.14 million, a price-to-earnings ratio of -12.73 and a beta of 1.39. The business’s 50 day moving average is $7.52 and its 200 day moving average is $8.85. Aaron’s has a 12-month low of $6.62 and a 12-month high of $16.16. The company has a quick ratio of 0.72, a current ratio of 1.03 and a debt-to-equity ratio of 0.32.

Aaron’s (NYSE:AAN) last posted its earnings results on Monday, May 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). Aaron’s had a positive return on equity of 0.02% and a negative net margin of 1.15%. The firm had revenue of $511.50 million during the quarter, compared to the consensus estimate of $521.05 million. During the same quarter in the previous year, the company earned $0.66 EPS. The business’s revenue was down 7.7% compared to the same quarter last year. On average, sell-side analysts forecast that Aaron’s will post 0.11 earnings per share for the current fiscal year.

Aaron’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Friday, June 14th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.97%. Aaron’s’s dividend payout ratio is presently -63.29%.

Institutional Investors Weigh In On Aaron’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of Aaron’s by 25.5% in the third quarter. Barclays PLC now owns 78,000 shares of the company’s stock worth $817,000 after purchasing an additional 15,847 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Aaron’s by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 912,168 shares of the company’s stock worth $9,550,000 after buying an additional 50,301 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Aaron’s in the 3rd quarter valued at approximately $67,000. Nordea Investment Management AB raised its holdings in Aaron’s by 1.9% during the 3rd quarter. Nordea Investment Management AB now owns 123,953 shares of the company’s stock valued at $1,314,000 after acquiring an additional 2,261 shares during the period. Finally, WINTON GROUP Ltd purchased a new stake in shares of Aaron’s during the third quarter worth $277,000. 91.99% of the stock is currently owned by institutional investors.

Aaron’s Company Profile

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.