Aaron’s (NYSE:AAN) Coverage Initiated by Analysts at StockNews.com

Posted by Dante Gardener on Oct 21st, 2024

StockNews.com started coverage on shares of Aaron’s (NYSE:AAN – Free Report) in a report issued on Thursday. The firm issued a hold rating on the stock.

Separately, Jefferies Financial Group reiterated a “hold” rating and set a $10.10 price target (down previously from $11.00) on shares of Aaron’s in a research note on Wednesday, July 10th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $9.46.

View Our Latest Stock Analysis on Aaron’s

Aaron’s Stock Performance

NYSE:AAN opened at $10.09 on Thursday. The company has a current ratio of 1.02, a quick ratio of 0.70 and a debt-to-equity ratio of 0.33. Aaron’s has a 1-year low of $6.62 and a 1-year high of $11.90. The stock’s 50-day moving average is $10.06 and its 200-day moving average is $9.08. The stock has a market cap of $318.06 million, a P/E ratio of -12.77 and a beta of 1.43.

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

Aaron’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th were paid a $0.125 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.96%. Aaron’s’s dividend payout ratio (DPR) is -63.29%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AAN. Water Island Capital LLC bought a new stake in Aaron’s during the 2nd quarter valued at $9,711,000. Acadian Asset Management LLC raised its position in shares of Aaron’s by 25.5% in the 1st quarter. Acadian Asset Management LLC now owns 807,933 shares of the company’s stock worth $6,056,000 after acquiring an additional 164,392 shares in the last quarter. Gabelli Funds LLC bought a new stake in shares of Aaron’s during the second quarter valued at approximately $3,230,000. Alpine Associates Management Inc. purchased a new position in Aaron’s during the second quarter valued at $8,379,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of Aaron’s during the 1st quarter valued at $430,000. 91.99% of the stock is owned by institutional investors.

About Aaron’s

(Get Free Report)

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.