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

StockNews.com began coverage on shares of Aaron’s (NYSE:AAN) in a report issued on Sunday morning. The brokerage issued a hold rating on the stock.

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

Aaron’s Stock Performance

AAN opened at $10.04 on Friday. The business’s 50-day moving average price is $10.02 and its two-hundred day moving average price is $8.59. Aaron’s has a 1 year low of $6.62 and a 1 year high of $11.90. The company has a market capitalization of $316.46 million, a price-to-earnings ratio of -12.71 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 released its quarterly earnings results on Monday, August 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.10). Aaron’s had a negative net margin of 2.06% and a negative return on equity of 2.08%. The firm had revenue of $503.10 million during the quarter, compared to analyst estimates of $513.91 million. During the same period in the prior year, the business earned $0.39 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities analysts expect that Aaron’s will post -0.01 EPS for the current fiscal year.

Aaron’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Friday, September 13th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Friday, September 13th. Aaron’s’s payout ratio is currently -63.29%.

Institutional Investors Weigh In On Aaron’s

A number of institutional investors have recently made changes to their positions in AAN. Water Island Capital LLC bought a new stake in shares of Aaron’s during the second quarter worth approximately $9,711,000. Alpine Associates Management Inc. bought a new stake in shares of Aaron’s during the second quarter worth approximately $8,379,000. Gabelli Funds LLC bought a new stake in shares of Aaron’s during the second quarter worth approximately $3,230,000. Millennium Management LLC boosted its holdings in shares of Aaron’s by 139.7% during the second quarter. Millennium Management LLC now owns 392,405 shares of the company’s stock worth $3,916,000 after acquiring an additional 228,678 shares during the period. Finally, Acuitas Investments LLC bought a new stake in shares of Aaron’s during the second quarter worth 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.