Aaron’s (NYSE:AAN) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Aaron’s (NYSE:AAN) in a research note published on Monday. The firm issued a hold rating on the stock.

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

Aaron’s Stock Performance

NYSE AAN opened at $10.03 on Monday. The stock has a market cap of $316.15 million, a PE ratio of -12.70 and a beta of 1.43. Aaron’s has a twelve month low of $6.62 and a twelve month high of $11.90. The stock has a fifty day simple moving average of $10.03 and a 200-day simple moving average of $8.73. The company has a current ratio of 1.02, a quick ratio of 0.70 and a debt-to-equity ratio of 0.33.

Aaron’s (NYSE:AAN) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $503.10 million for the quarter, compared to analysts’ expectations of $513.91 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. The company’s quarterly revenue was down 5.1% on a year-over-year basis. Equities analysts anticipate that Aaron’s will post -0.01 earnings per share for the current year.

Aaron’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 4.99%. The ex-dividend date is Friday, September 13th. Aaron’s’s payout ratio is -63.29%.

Institutional Investors Weigh In On Aaron’s

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

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.