Aaron’s (NYSE:AAN) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

The Aaron’s Company, Inc. (NYSE:AAN)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.14 and traded as high as $10.10. Aaron’s shares last traded at $10.09, with a volume of 2,775,800 shares trading hands.

Wall Street Analysts Forecast Growth

AAN has been the subject of several analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $10.10 target price (down previously from $11.00) on shares of Aaron’s in a research note on Wednesday, July 10th. StockNews.com initiated coverage on shares of Aaron’s in a research report on Friday. They set a “hold” rating on the stock. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $9.46.

Aaron’s Trading Up 1.0 %

The company has a current ratio of 1.02, a quick ratio of 0.70 and a debt-to-equity ratio of 0.33. The firm has a market cap of $318.06 million, a PE ratio of -12.77 and a beta of 1.43. The firm has a fifty day simple moving average of $10.06 and a two-hundred day simple moving average of $9.16.

Aaron’s (NYSE:AAN) last posted its earnings results on Monday, August 5th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the company posted $0.39 EPS. The firm’s revenue was down 5.1% on a year-over-year basis. Equities analysts forecast that The Aaron’s Company, Inc. will post -0.01 EPS for the current year.

Aaron’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date of this dividend was Friday, September 13th. Aaron’s’s dividend payout ratio is presently -63.29%.

Hedge Funds Weigh In On Aaron’s

Hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new position in shares of Aaron’s in the fourth quarter worth $216,000. Norden Group LLC purchased a new stake in Aaron’s during the 1st quarter valued at $178,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Aaron’s by 130.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,767 shares of the company’s stock valued at $246,000 after purchasing an additional 18,547 shares in the last quarter. Quent Capital LLC raised its position in shares of Aaron’s by 90.9% during the 1st quarter. Quent Capital LLC now owns 42,000 shares of the company’s stock valued at $315,000 after purchasing an additional 20,000 shares during the period. Finally, Empowered Funds LLC lifted its stake in shares of Aaron’s by 8.2% during the 1st quarter. Empowered Funds LLC now owns 152,439 shares of the company’s stock valued at $1,143,000 after buying an additional 11,517 shares in the last quarter. 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.