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 report report published on Tuesday morning. The firm issued a hold rating on the stock.

Several other equities research analysts also recently weighed in on the stock. BTIG Research initiated coverage on shares of Aaron’s in a research report on Friday, June 7th. They set a neutral rating for the company. Loop Capital boosted their target price on Aaron’s from $8.00 to $10.00 and gave the stock a hold rating in a research report on Tuesday, June 18th. Jefferies Financial Group restated 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. Truist Financial boosted their price objective on shares of Aaron’s from $8.00 to $10.10 and gave the company a hold rating in a report on Tuesday, June 18th. Finally, TD Cowen raised 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 Monday, June 17th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $9.46.

Aaron’s Stock Performance

Shares of Aaron’s stock remained flat at $10.02 during midday trading on Tuesday. The company had a trading volume of 738,523 shares, compared to its average volume of 468,850. The firm has a 50-day moving average price of $9.60 and a 200 day moving average price of $8.66. The firm has a market cap of $315.85 million, a PE ratio of -12.68 and a beta of 1.43. Aaron’s has a 52 week low of $6.62 and a 52 week high of $13.93. 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 released its 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). The company had revenue of $503.10 million during the quarter, compared to analysts’ expectations of $513.91 million. Aaron’s had a positive return on equity of 0.02% and a negative net margin of 1.15%. The company’s revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 earnings per share. Equities research analysts forecast that Aaron’s will post 0.12 EPS for the current year.

Aaron’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend is Friday, September 13th. Aaron’s’s dividend payout ratio is presently -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. Renaissance Technologies LLC lifted its holdings in Aaron’s by 39.4% in the 2nd quarter. Renaissance Technologies LLC now owns 205,500 shares of the company’s stock worth $2,051,000 after purchasing an additional 58,100 shares in the last quarter. Alpine Associates Management Inc. bought a new position in shares of Aaron’s during the second quarter worth $8,379,000. Massachusetts Financial Services Co. MA grew its stake in Aaron’s by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 31,781 shares of the company’s stock valued at $317,000 after acquiring an additional 1,065 shares in the last quarter. American Century Companies Inc. increased its holdings in Aaron’s by 12.1% in the 2nd quarter. American Century Companies Inc. now owns 759,972 shares of the company’s stock valued at $7,585,000 after acquiring an additional 81,910 shares during the last quarter. Finally, Acuitas Investments LLC purchased a new stake in Aaron’s in the 2nd quarter worth $2,244,000. 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.