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

StockNews.com started coverage on shares of Aaron’s (NYSE:AAN) in a research note released on Saturday morning. The firm issued a hold rating on the stock.

Several other equities research analysts have also commented on AAN. Jefferies Financial Group reaffirmed a hold rating and set a $10.10 price target (down previously from $11.00) on shares of Aaron’s in a research report on Wednesday, July 10th. Truist Financial upped their target price 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. 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. Loop Capital boosted their price objective on shares of Aaron’s from $8.00 to $10.00 and gave the company a hold rating in a research report on Tuesday, June 18th. Finally, BTIG Research assumed coverage on Aaron’s in a report on Friday, June 7th. They issued a neutral rating on the stock. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $9.46.

Aaron’s Stock Down 0.0 %

Shares of Aaron’s stock opened at $10.07 on Friday. Aaron’s has a twelve month low of $6.62 and a twelve month high of $11.90. The company has a quick ratio of 0.70, a current ratio of 1.02 and a debt-to-equity ratio of 0.33. The company’s 50 day moving average is $10.02 and its 200 day moving average is $8.57. The company has a market cap of $317.25 million, a price-to-earnings ratio of -12.74 and a beta of 1.43.

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 analysts’ consensus estimates of $0.03 by ($0.10). The firm had revenue of $503.10 million during the quarter, compared to analysts’ expectations of $513.91 million. Aaron’s had a negative return on equity of 2.08% and a negative net margin of 2.06%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the business earned $0.39 earnings per share. Research analysts anticipate that Aaron’s will post -0.01 EPS for the current year.

Aaron’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be issued a $0.125 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.50 dividend on an annualized basis and a yield of 4.97%. Aaron’s’s dividend payout ratio is currently -63.29%.

Institutional Investors Weigh In On Aaron’s

A number of hedge funds have recently made changes to their positions in the company. Water Island Capital LLC purchased a new position in Aaron’s during the 2nd quarter valued at approximately $9,711,000. Alpine Associates Management Inc. bought a new stake in Aaron’s in the second quarter worth $8,379,000. Gabelli Funds LLC purchased a new stake in Aaron’s during the second quarter valued at $3,230,000. Millennium Management LLC lifted its position in Aaron’s by 139.7% during the second quarter. Millennium Management LLC now owns 392,405 shares of the company’s stock valued at $3,916,000 after purchasing an additional 228,678 shares during the last quarter. Finally, Acuitas Investments LLC purchased a new position in shares of Aaron’s in the 2nd quarter worth $2,244,000. 91.99% of the stock is currently 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.