Aaron’s (NYSE:AAN) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Aaron’s (NYSE:AAN) in a research note published on Sunday morning. The firm issued a hold rating on the stock.

Several other equities analysts have also recently weighed in on the stock. 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. Truist Financial lifted their price objective on shares of Aaron’s from $8.00 to $10.10 and gave the stock a hold rating in a research note on Tuesday, June 18th. Jefferies Financial Group reaffirmed a hold rating and set a $10.10 price target (down from $11.00) on shares of Aaron’s in a research note on Wednesday, July 10th. TD Cowen boosted their price target on shares of Aaron’s from $8.00 to $10.10 and gave the company a hold rating in a report on Monday, June 17th. Finally, Loop Capital boosted their price target on shares of Aaron’s from $8.00 to $10.00 and gave the company a hold rating in a report on Tuesday, June 18th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $9.46.

Aaron’s Stock Performance

NYSE:AAN opened at $10.06 on Friday. The company’s 50-day simple moving average is $10.03 and its 200 day simple moving average is $8.62. The firm has a market capitalization of $317.11 million, a P/E ratio of -12.73 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 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) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.07) earnings per share 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 business had revenue of $503.10 million during the quarter, compared to the consensus estimate of $513.91 million. During the same quarter in the previous year, the business posted $0.39 earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis. As a group, analysts forecast that Aaron’s will post -0.01 EPS for the current fiscal year.

Aaron’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend is Friday, September 13th. Aaron’s’s dividend payout ratio (DPR) is currently -63.29%.

Hedge Funds Weigh In On Aaron’s

A number of large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in shares of Aaron’s by 10.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,005,375 shares of the company’s stock valued at $10,938,000 after buying an additional 93,207 shares during the last quarter. Water Island Capital LLC purchased a new stake in shares of Aaron’s in the second quarter valued at about $9,711,000. Alpine Associates Management Inc. purchased a new stake in shares of Aaron’s in the second quarter valued at about $8,379,000. Acadian Asset Management LLC grew its holdings in shares of Aaron’s by 25.5% in the first quarter. Acadian Asset Management LLC now owns 807,933 shares of the company’s stock valued at $6,056,000 after purchasing an additional 164,392 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Aaron’s by 12.1% in the second quarter. American Century Companies Inc. now owns 759,972 shares of the company’s stock valued at $7,585,000 after purchasing an additional 81,910 shares during the period. 91.99% of the stock is currently owned by institutional investors and hedge funds.

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.