Aaron’s (NYSE:AAN) Price Target Increased to $10.10 by Analysts at Truist Financial

Aaron’s (NYSE:AAN) had its target price increased by Truist Financial from $8.00 to $10.10 in a research note released on Tuesday, Benzinga reports. They currently have a hold rating on the stock.

Other equities research analysts have also issued reports about the company. TD Cowen boosted their price objective on Aaron’s from $8.00 to $10.10 and gave the stock a hold rating in a research note on Monday. StockNews.com lowered Aaron’s from a buy rating to a hold rating in a research note on Friday, June 7th. Stifel Nicolaus restated a hold rating and set a $7.00 target price on shares of Aaron’s in a report on Monday, March 11th. Finally, BTIG Research assumed coverage on Aaron’s in a report on Friday, June 7th. They set a neutral rating on the stock. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Aaron’s presently has a consensus rating of Hold and a consensus target price of $11.70.

Aaron’s Price Performance

Shares of Aaron’s stock opened at $10.02 on Tuesday. Aaron’s has a twelve month low of $6.62 and a twelve month high of $16.16. The business has a 50-day moving average price of $7.57 and a 200 day moving average price of $8.85. The company has a quick ratio of 0.72, a current ratio of 1.03 and a debt-to-equity ratio of 0.32. The firm has a market cap of $306.76 million, a PE ratio of -12.68 and a beta of 1.39.

Aaron’s (NYSE:AAN) last posted its quarterly earnings data on Monday, May 6th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). Aaron’s had a positive return on equity of 0.02% and a negative net margin of 1.15%. The firm had revenue of $511.50 million for the quarter, compared to analysts’ expectations of $521.05 million. During the same quarter last year, the firm posted $0.66 earnings per share. Aaron’s’s quarterly revenue was down 7.7% on a year-over-year basis. Sell-side analysts predict that Aaron’s will post 0.11 earnings per share for the current fiscal year.

Aaron’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Friday, June 14th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date is Friday, June 14th. Aaron’s’s dividend payout ratio is presently -63.29%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its holdings in 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 acquiring an additional 93,207 shares during the last quarter. LSV Asset Management lifted its holdings in Aaron’s by 4.3% in the fourth quarter. LSV Asset Management now owns 1,000,532 shares of the company’s stock valued at $10,886,000 after acquiring an additional 41,600 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in 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 acquiring an additional 164,392 shares during the last quarter. American Century Companies Inc. lifted its holdings in Aaron’s by 18.4% in the third quarter. American Century Companies Inc. now owns 494,868 shares of the company’s stock valued at $5,181,000 after acquiring an additional 76,905 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in Aaron’s by 15.8% in the fourth quarter. New York State Common Retirement Fund now owns 407,498 shares of the company’s stock valued at $4,434,000 after acquiring an additional 55,740 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors and hedge funds.

About Aaron’s

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.