Aaron’s (NYSE:AAN) Now Covered by StockNews.com

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

A number of other equities analysts have also recently commented on AAN. Truist Financial lifted their price target on shares of Aaron’s from $8.00 to $10.10 and gave the stock a hold rating in a research note on Tuesday, June 18th. TD Cowen lifted their price target 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. BTIG Research initiated coverage on shares of Aaron’s in a research note on Friday, June 7th. They set a neutral rating for the company. Loop Capital lifted their price objective on shares of Aaron’s from $8.00 to $10.00 and gave the company a hold rating in a report on Tuesday, June 18th. Finally, Jefferies Financial Group reiterated a hold rating and set a $10.10 price objective (down previously from $11.00) on shares of Aaron’s in a report on Wednesday, July 10th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Aaron’s presently has an average rating of Hold and an average target price of $9.46.

Aaron’s Stock Performance

Shares of NYSE:AAN opened at $10.07 on Wednesday. Aaron’s has a 52 week low of $6.62 and a 52 week high of $12.75. The stock has a market capitalization of $317.43 million, a P/E ratio of -12.75 and a beta of 1.43. The firm has a fifty day simple moving average of $9.78 and a two-hundred day simple moving average of $8.62. 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 issued its quarterly earnings data 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 positive return on equity of 0.02% and a negative net margin of 1.15%. The business had revenue of $503.10 million during the quarter, compared to analysts’ expectations of $513.91 million. During the same period in the previous year, the business earned $0.39 earnings per share. The business’s quarterly revenue was down 5.1% on a year-over-year basis. On average, analysts expect that Aaron’s will post 0.12 earnings per share for the current fiscal year.

Aaron’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Friday, September 13th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.50 annualized dividend and a dividend yield of 4.97%. Aaron’s’s dividend payout ratio (DPR) is presently -63.29%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Gladius Capital Management LP bought a new position in shares of Aaron’s during the 2nd quarter worth approximately $41,000. GAMMA Investing LLC raised its stake in shares of Aaron’s by 314.4% during the 2nd quarter. GAMMA Investing LLC now owns 5,101 shares of the company’s stock worth $51,000 after acquiring an additional 3,870 shares in the last quarter. Fortitude Family Office LLC raised its stake in shares of Aaron’s by 239.5% during the 2nd quarter. Fortitude Family Office LLC now owns 8,385 shares of the company’s stock worth $84,000 after acquiring an additional 5,915 shares in the last quarter. EMC Capital Management grew its position in Aaron’s by 172.8% during the 1st quarter. EMC Capital Management now owns 12,211 shares of the company’s stock worth $92,000 after purchasing an additional 7,735 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Aaron’s during the 1st quarter worth approximately $115,000. 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.