Aaron's (NYSE:AAN) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Aaron's (NYSE:AAN - Free Report) in a report released on Monday morning. The brokerage issued a hold rating on the stock.

Several other brokerages also recently weighed in on AAN. 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. 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 research report on Monday, June 17th. Truist Financial upped their price objective on shares of Aaron's from $8.00 to $10.10 and gave the company a hold rating in a research note on Tuesday, June 18th. Loop Capital lifted their target price on 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 from $11.00) on shares of Aaron's in a research note on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Aaron's presently has a consensus rating of Hold and a consensus target price of $9.46.

Aaron's Price Performance

Aaron's stock traded up $0.04 during midday trading on Monday, reaching $10.06. The company had a trading volume of 848,939 shares, compared to its average volume of 537,831. The company has a market capitalization of $317.11 million, a P/E ratio of -12.68 and a beta of 1.43. The firm's fifty day simple moving average is $10.03 and its 200-day simple moving average is $8.68. Aaron's has a 12-month low of $6.62 and a 12-month high of $11.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.02 and a quick ratio of 0.70.

Aaron's (NYSE:AAN - Get Free Report) last announced its quarterly 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 net margin of 2.06% and a negative return on equity of 2.08%. The company had revenue of $503.10 million for the quarter, compared to analyst estimates of $513.91 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. Aaron's's revenue was down 5.1% on a year-over-year basis. As a group, equities analysts anticipate that Aaron's will post -0.01 EPS for the current year.

Aaron's Announces Dividend

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

Institutional Investors Weigh In On Aaron's

Several hedge funds have recently modified their holdings of the business. Gladius Capital Management LP bought a new stake in Aaron's during the 2nd quarter worth approximately $41,000. GAMMA Investing LLC raised its holdings in shares of Aaron's by 314.4% during the second quarter. GAMMA Investing LLC now owns 5,101 shares of the company's stock worth $51,000 after acquiring an additional 3,870 shares during the period. Fortitude Family Office LLC lifted its holdings in shares of Aaron's by 239.5% in the second quarter. Fortitude Family Office LLC now owns 8,385 shares of the company's stock valued at $84,000 after purchasing an additional 5,915 shares in the last quarter. EMC Capital Management boosted 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 acquiring an additional 7,735 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new position in Aaron's in the first quarter valued at $115,000. 91.99% of the stock is owned by 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.