Aaron’s (NYSE:AAN) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Aaron’s (NYSE:AAN) in a research note released on Saturday morning. The firm issued a hold rating on the stock.

Several other equities analysts also recently weighed in on the stock. BTIG Research started coverage on shares of Aaron’s in a report on Friday, June 7th. They set a neutral rating on the stock. Truist Financial upped their target price 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. TD Cowen raised their price target on Aaron’s from $8.00 to $10.10 and gave the company a hold rating in a report on Monday, June 17th. Loop Capital upped their price objective on Aaron’s from $8.00 to $10.00 and gave the stock a hold rating in a research note on Tuesday, June 18th. Finally, Jefferies Financial Group reissued a hold rating and set a $10.10 target price (down previously from $11.00) on shares of Aaron’s in a research note on Wednesday, July 10th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $9.46.

Aaron’s Trading Up 0.2 %

Shares of AAN stock opened at $10.01 on Friday. Aaron’s has a 1 year low of $6.62 and a 1 year high of $11.90. The firm has a fifty day moving average price of $10.01 and a 200-day moving average price of $8.58. The company has a market cap of $315.54 million, a price-to-earnings ratio of -12.67 and a beta of 1.43. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.02 and a quick ratio of 0.70.

Aaron’s (NYSE:AAN) last issued 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). Aaron’s had a negative return on equity of 2.08% and a negative net margin of 2.06%. The company had revenue of $503.10 million during the quarter, compared to analysts’ expectations of $513.91 million. During the same quarter in the previous year, the company earned $0.39 EPS. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. As a group, equities analysts predict that Aaron’s will post -0.01 earnings per share for the current year.

Aaron’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.00%. Aaron’s’s dividend payout ratio is currently -63.29%.

Institutional Investors Weigh In On Aaron’s

Large investors have recently bought and sold shares of the business. Water Island Capital LLC bought a new stake in shares of Aaron’s in the 2nd quarter worth about $9,711,000. Alpine Associates Management Inc. purchased a new position in Aaron’s in the second quarter worth about $8,379,000. Gabelli Funds LLC bought a new stake in Aaron’s during the second quarter worth approximately $3,230,000. Millennium Management LLC raised its position in Aaron’s by 139.7% during the second quarter. Millennium Management LLC now owns 392,405 shares of the company’s stock valued at $3,916,000 after purchasing an additional 228,678 shares during the period. Finally, Acuitas Investments LLC bought a new stake in shares of Aaron’s in the 2nd quarter valued at approximately $2,244,000. Institutional investors own 91.99% of the company’s stock.

About Aaron’s

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.