Aaron’s (AAN) Trading 5% Higher
Aaron’s, Inc. (NYSE:AAN) traded up 5% during trading on Thursday . The company traded as high as $41.31 and last traded at $41.12. 888,084 shares were traded during trading, an increase of 15% from the average session volume of 770,123 shares. The stock had previously closed at $39.15.
A number of equities research analysts have commented on the company. Stephens reiterated a “buy” rating and set a $61.00 target price on shares of Aaron’s in a report on Wednesday, January 3rd. Zacks Investment Research upgraded Aaron’s from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Wednesday. Janney Montgomery Scott assumed coverage on Aaron’s in a report on Wednesday, October 18th. They set a “neutral” rating and a $42.00 target price on the stock. Jefferies Group reissued a “buy” rating and set a $54.00 price target on shares of Aaron’s in a research note on Tuesday, December 26th. Finally, Northcoast Research set a $53.00 price target on Aaron’s and gave the stock a “buy” rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $45.27.
The stock has a market capitalization of $2,909.69, a P/E ratio of 21.65 and a beta of 0.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 0.74.
Aaron’s (NYSE:AAN) last issued its quarterly earnings results on Friday, October 27th. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.11). Aaron’s had a return on equity of 11.41% and a net margin of 4.15%. The business had revenue of $838.80 million for the quarter, compared to analysts’ expectations of $827.20 million. During the same period in the prior year, the company earned $0.50 EPS. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. sell-side analysts forecast that Aaron’s, Inc. will post 2.46 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Wednesday, December 13th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend was Tuesday, December 12th. This is a positive change from Aaron’s’s previous quarterly dividend of $0.03. Aaron’s’s dividend payout ratio is currently 6.32%.
In related news, CEO John W. Robinson sold 15,000 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $36.24, for a total value of $543,600.00. Following the transaction, the chief executive officer now directly owns 337,340 shares of the company’s stock, valued at approximately $12,225,201.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Steven A. Michaels sold 4,000 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $37.15, for a total value of $148,600.00. Following the completion of the transaction, the chief financial officer now directly owns 56,769 shares in the company, valued at $2,108,968.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,003 shares of company stock worth $692,308. Corporate insiders own 1.93% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of AAN. Legal & General Group Plc raised its position in shares of Aaron’s by 10.3% in the 2nd quarter. Legal & General Group Plc now owns 80,025 shares of the company’s stock worth $3,112,000 after buying an additional 7,493 shares during the period. Victory Capital Management Inc. raised its position in shares of Aaron’s by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,708 shares of the company’s stock worth $183,000 after buying an additional 705 shares during the period. Neuberger Berman Group LLC raised its position in shares of Aaron’s by 60.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 58,279 shares of the company’s stock worth $2,267,000 after buying an additional 22,039 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Aaron’s by 13.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,649 shares of the company’s stock worth $103,000 after buying an additional 312 shares during the period. Finally, Keybank National Association OH purchased a new position in shares of Aaron’s in the 2nd quarter worth $235,000.
Aaron’s, Inc (Aaron’s) is an omnichannel provider of lease-purchase solutions. The Company engages in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories through its Company-operated and franchised stores in Canada, as well as its e-commerce platform, Aarons.com.
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