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

Analysts at StockNews.com assumed coverage on shares of Aaron’s (NYSE:AAN) in a report issued on Thursday. The firm set a “hold” rating on the stock.

A number of other research analysts have also issued reports on AAN. Stifel Nicolaus restated a “hold” rating and set a $7.00 price target on shares of Aaron’s in a research note on Monday, March 11th. TD Cowen upped their price target on shares of Aaron’s from $8.00 to $10.10 and gave the company a “hold” rating in a research note on Monday, June 17th. Truist Financial upped their price target on shares of Aaron’s from $8.00 to $10.10 and gave the company a “hold” rating in a research note on Tuesday, June 18th. BTIG Research started coverage on shares of Aaron’s in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Finally, Loop Capital increased their price objective on shares of Aaron’s from $8.00 to $10.00 and gave the stock a “hold” rating in a research note on Tuesday, June 18th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $11.70.

Aaron’s Trading Up 0.3 %

NYSE:AAN opened at $9.98 on Thursday. Aaron’s has a 52 week low of $6.62 and a 52 week high of $16.16. The firm has a 50 day moving average of $8.01 and a 200 day moving average of $8.86. The company has a quick ratio of 0.72, a current ratio of 1.03 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $314.57 million, a price-to-earnings ratio of -12.63 and a beta of 1.39.

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

Institutional Trading of Aaron’s

A number of hedge funds have recently added to or reduced their stakes in AAN. Charles Schwab Investment Management Inc. boosted its holdings in Aaron’s by 5.8% during the third 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 in the last quarter. Hsbc Holdings PLC boosted its holdings in Aaron’s by 180.2% during the third quarter. Hsbc Holdings PLC now owns 40,794 shares of the company’s stock worth $428,000 after buying an additional 26,235 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in Aaron’s during the third quarter worth $1,896,000. Sherbrooke Park Advisers LLC purchased a new stake in Aaron’s during the third quarter worth $109,000. Finally, Caxton Associates LP boosted its holdings in Aaron’s by 100.8% during the third quarter. Caxton Associates LP now owns 23,734 shares of the company’s stock worth $248,000 after buying an additional 11,912 shares in the last quarter. 91.99% of the stock is owned by hedge funds and other 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.