New Mexico Educational Retirement Board grew its position in shares of Aaron’s, Inc. (NYSE:AAN) by 37.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,000 shares of the company’s stock after purchasing an additional 4,400 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Aaron’s were worth $364,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new stake in shares of Aaron’s during the fourth quarter valued at about $43,000. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of Aaron’s during the fourth quarter valued at about $43,000. Capital Analysts LLC boosted its stake in shares of Aaron’s by 107.9% during the first quarter. Capital Analysts LLC now owns 1,343 shares of the company’s stock valued at $31,000 after purchasing an additional 697 shares in the last quarter. Eudaimonia Partners LLC bought a new position in shares of Aaron’s during the first quarter worth about $32,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Aaron’s by 220.6% during the first quarter. Tower Research Capital LLC TRC now owns 1,507 shares of the company’s stock worth $34,000 after acquiring an additional 1,037 shares during the last quarter. 98.89% of the stock is currently owned by hedge funds and other institutional investors.
AAN has been the subject of a number of analyst reports. Berenberg Bank initiated coverage on Aaron’s in a research report on Tuesday, June 23rd. They set a “buy” rating and a $68.00 price objective for the company. Stifel Nicolaus raised their price objective on Aaron’s from $49.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. KeyCorp lowered their price objective on Aaron’s from $66.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Raymond James lowered their price objective on Aaron’s from $60.00 to $50.00 and set a “strong-buy” rating for the company in a research report on Friday, May 8th. Finally, TheStreet downgraded Aaron’s from a “c” rating to a “d+” rating in a report on Friday, May 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Aaron’s has an average rating of “Buy” and an average price target of $53.80.
Aaron’s (NYSE:AAN) last issued its earnings results on Thursday, May 7th. The company reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.10. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1 billion. Aaron’s had a positive return on equity of 14.53% and a negative net margin of 7.55%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 earnings per share. On average, research analysts predict that Aaron’s, Inc. will post 2.96 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Thursday, June 18th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.16 annualized dividend and a dividend yield of 0.36%. Aaron’s’s payout ratio is 4.11%.
Aaron’s Company Profile
Aaron's, Inc operates as an omnichannel provider of lease-purchase solutions to underserved and credit-challenged customers. It operates in three segments: Progressive Leasing, Aaron's Business, and DAMI. The company also engages in the sale, lease ownership, and specialty retailing of furniture, consumer electronics, home appliances, and accessories.
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