A number of other research firms have also issued reports on AAN. Zacks Investment Research lowered Aaron’s from a hold rating to a sell rating in a report on Wednesday, October 4th. Jefferies Group reaffirmed a buy rating and issued a $54.00 price objective on shares of Aaron’s in a report on Thursday, October 12th. Off Wall Street assumed coverage on Aaron’s in a report on Monday, September 18th. They issued a sell rating on the stock. Janney Montgomery Scott assumed coverage on shares of Aaron’s in a research report on Wednesday, October 18th. They set a neutral rating and a $42.00 price target for the company. Finally, KeyCorp upgraded shares of Aaron’s from a sector weight rating to an overweight rating and set a $50.00 price target for the company in a research report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $45.27.
Shares of Aaron’s (NYSE AAN) opened at $41.13 on Wednesday. The firm has a market capitalization of $2,909.69, a price-to-earnings ratio of 17.06 and a beta of 0.22. Aaron’s has a 52 week low of $26.12 and a 52 week high of $48.22. The company has a quick ratio of 0.74, a current ratio of 2.35 and a debt-to-equity ratio of 0.24.
Aaron’s (NYSE:AAN) last issued its quarterly earnings data on Friday, October 27th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.11). Aaron’s had a return on equity of 11.41% and a net margin of 4.15%. The firm had revenue of $838.80 million for the quarter, compared to analysts’ expectations of $827.20 million. During the same period in the previous year, the business posted $0.50 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. equities research analysts predict that Aaron’s will post 2.46 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Wednesday, December 13th were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, December 12th. This is an increase from Aaron’s’s previous quarterly dividend of $0.03. This represents a $0.12 annualized dividend and a yield of 0.29%. Aaron’s’s payout ratio is 6.32%.
In other news, CEO John W. Robinson sold 15,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $36.24, for a total transaction of $543,600.00. Following the completion of the sale, the chief executive officer now directly owns 337,340 shares of the company’s stock, valued at approximately $12,225,201.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven A. Michaels sold 4,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $37.15, for a total transaction of $148,600.00. Following the sale, the chief financial officer now directly owns 56,769 shares of the company’s stock, valued at $2,108,968.35. The disclosure for this sale can be found here. Insiders sold a total of 19,003 shares of company stock valued at $692,308 over the last quarter. 1.93% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in Aaron’s by 4.3% during the 2nd quarter. BlackRock Inc. now owns 7,237,539 shares of the company’s stock worth $281,540,000 after purchasing an additional 298,839 shares during the period. Vanguard Group Inc. boosted its position in Aaron’s by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,320,969 shares of the company’s stock worth $245,885,000 after purchasing an additional 22,626 shares during the period. State Street Corp boosted its position in Aaron’s by 6.8% during the 2nd quarter. State Street Corp now owns 2,235,516 shares of the company’s stock worth $86,967,000 after purchasing an additional 142,599 shares during the period. Northern Trust Corp boosted its position in Aaron’s by 6.2% during the 2nd quarter. Northern Trust Corp now owns 1,574,361 shares of the company’s stock worth $61,243,000 after purchasing an additional 91,801 shares during the period. Finally, AJO LP lifted its holdings in Aaron’s by 267.0% in the 2nd quarter. AJO LP now owns 1,468,601 shares of the company’s stock worth $57,129,000 after buying an additional 1,068,399 shares in the last quarter.
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Aaron’s Company Profile
Aaron’s, Inc (Aaron’s) is an omnichannel provider of lease-purchase solutions. The Company engages in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories through its Company-operated and franchised stores in Canada, as well as its e-commerce platform, Aarons.com.
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