StockNews.com Initiates Coverage on Aaron's (NYSE:AAN)

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

A number of other research analysts also recently issued reports on the stock. Jefferies Financial Group restated a hold rating and issued a $10.10 price target (down from $11.00) on shares of Aaron's in a research report on Wednesday, July 10th. TD Cowen lifted their target price on Aaron's from $8.00 to $10.10 and gave the company a hold rating in a research note on Monday, June 17th. Loop Capital increased their price target on Aaron's from $8.00 to $10.00 and gave the stock a hold rating in a research report on Tuesday, June 18th. Finally, Truist Financial boosted their price objective on Aaron's from $8.00 to $10.10 and gave the company a hold rating in a research report on Tuesday, June 18th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Aaron's has a consensus rating of Hold and a consensus target price of $9.46.

Aaron's Stock Up 1.0 %

Shares of AAN stock traded up $0.10 during trading hours on Wednesday, hitting $10.09. 2,775,800 shares of the company were exchanged, compared to its average volume of 616,941. The stock has a market capitalization of $318.06 million, a price-to-earnings ratio of -12.77 and a beta of 1.43. Aaron's has a one year low of $6.62 and a one year high of $11.90. The business's 50-day simple moving average is $10.05 and its two-hundred day simple moving average is $8.93. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.70 and a current ratio of 1.02.

Aaron's (NYSE:AAN - Get Free Report) last issued its earnings results on Monday, August 5th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $513.91 million. During the same quarter in the previous year, the business posted $0.39 EPS. Aaron's's revenue was down 5.1% compared to the same quarter last year. Sell-side analysts predict that Aaron's will post -0.01 EPS for the current fiscal year.

Aaron's Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Gladius Capital Management LP bought a new stake in Aaron's in the second quarter worth about $41,000. GAMMA Investing LLC raised its holdings in shares of Aaron's by 314.4% in the 2nd quarter. GAMMA Investing LLC now owns 5,101 shares of the company's stock worth $51,000 after purchasing an additional 3,870 shares in the last quarter. Fortitude Family Office LLC lifted its stake in Aaron's by 239.5% during 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 during the last quarter. SG Americas Securities LLC acquired a new stake in Aaron's during the third quarter valued at approximately $109,000. Finally, EMC Capital Management boosted its holdings in Aaron's by 172.8% during the first quarter. EMC Capital Management now owns 12,211 shares of the company's stock worth $92,000 after buying an additional 7,735 shares in the last quarter. Institutional investors own 91.99% of the company's stock.

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.