StockNews.com Initiates Coverage on Aaron’s (NYSE:AAN)

Analysts at StockNews.com started coverage on shares of Aaron’s (NYSE:AAN) in a report released on Wednesday. The firm set a “hold” rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Jefferies Financial Group reissued a “hold” rating and issued a $10.10 price objective (down from $11.00) on shares of Aaron’s in a research report on Wednesday, July 10th. Loop Capital boosted their price objective on shares of Aaron’s from $8.00 to $10.00 and gave the company a “hold” rating in a research report on Tuesday, June 18th. Truist Financial boosted their price objective on shares of Aaron’s from $8.00 to $10.10 and gave the company a “hold” rating in a research report on Tuesday, June 18th. Finally, TD Cowen boosted their price objective on shares of Aaron’s from $8.00 to $10.10 and gave the company a “hold” rating in a research report on Monday, June 17th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $9.46.

Aaron’s Stock Performance

Aaron’s stock opened at $10.09 on Wednesday. The company’s 50-day moving average price is $10.05 and its 200-day moving average price is $8.91. Aaron’s has a twelve month low of $6.62 and a twelve month high of $11.90. The company has a quick ratio of 0.70, a current ratio of 1.02 and a debt-to-equity ratio of 0.33. The company has a market cap of $318.06 million, a PE ratio of -12.77 and a beta of 1.43.

Aaron’s (NYSE:AAN) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.07) EPS 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 analysts’ expectations of $513.91 million. During the same period in the prior year, the firm posted $0.39 earnings per share. Aaron’s’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities research analysts forecast that Aaron’s will post -0.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Water Island Capital LLC acquired a new position in Aaron’s during the 2nd quarter valued at approximately $9,711,000. Alpine Associates Management Inc. purchased a new stake in shares of Aaron’s in the 2nd quarter valued at $8,379,000. Acadian Asset Management LLC boosted its holdings 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 valued at $6,056,000 after acquiring an additional 164,392 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of 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 during the last quarter. Finally, Trium Capital LLP purchased a new stake in shares of Aaron’s in the 3rd quarter valued at $4,028,000. Institutional investors and hedge funds 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.