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

Investment analysts at StockNews.com assumed coverage on shares of Aaron’s (NYSE:AAN) in a research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the stock.

AAN has been the topic of a number of other research reports. BTIG Research began coverage on shares of Aaron’s in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a $10.10 price objective (down previously from $11.00) on shares of Aaron’s in a research report on Wednesday, July 10th. Truist Financial increased their price objective on Aaron’s from $8.00 to $10.10 and gave the company a “hold” rating in a research note on Tuesday, June 18th. Loop Capital raised their target price on Aaron’s from $8.00 to $10.00 and gave the company a “hold” rating in a report on Tuesday, June 18th. Finally, TD Cowen boosted their price objective on Aaron’s from $8.00 to $10.10 and gave the company a “hold” rating in a research report on Monday, June 17th. Seven 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 company presently has a consensus rating of “Hold” and an average target price of $9.46.

Aaron’s Stock Up 0.5 %

Shares of Aaron’s stock opened at $10.04 on Friday. The firm has a market cap of $316.46 million, a price-to-earnings ratio of -12.71 and a beta of 1.43. 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 has a 1 year low of $6.62 and a 1 year high of $11.90. The company has a 50-day moving average of $10.02 and a 200 day moving average of $8.59.

Aaron’s (NYSE:AAN) last released its earnings results on Monday, August 5th. The company reported ($0.07) EPS 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 company had revenue of $503.10 million during the quarter, compared to analysts’ expectations of $513.91 million. During the same period last year, the firm posted $0.39 EPS. Aaron’s’s quarterly revenue was down 5.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Aaron’s will post -0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aaron’s

Hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its holdings in Aaron’s by 10.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,005,375 shares of the company’s stock worth $10,938,000 after acquiring an additional 93,207 shares in the last quarter. Water Island Capital LLC acquired a new stake in Aaron’s in the second quarter valued at $9,711,000. Alpine Associates Management Inc. acquired a new stake in Aaron’s in the second quarter valued at $8,379,000. Acadian Asset Management LLC grew its holdings in Aaron’s by 25.5% during 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 during the period. Finally, American Century Companies Inc. lifted its position in Aaron’s by 12.1% in the 2nd quarter. American Century Companies Inc. now owns 759,972 shares of the company’s stock valued at $7,585,000 after acquiring an additional 81,910 shares in the last quarter. Institutional investors own 91.99% of the company’s stock.

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.