Aaron’s, Inc. (AAN) Receives $38.00 Average PT from Analysts
Aaron’s, Inc. (NYSE:AAN) has been assigned a consensus recommendation of “Buy” from the eight analysts that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $38.00.
AAN has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Aaron’s, from a “hold” rating to a “strong-buy” rating and set a $42.00 price target for the company in a research note on Tuesday, May 2nd. Loop Capital reissued a “hold” rating and set a $28.00 price target on shares of Aaron’s, in a research note on Sunday, April 23rd. Jefferies Group LLC boosted their price target on shares of Aaron’s, from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. Finally, TheStreet upgraded shares of Aaron’s, from a “c+” rating to a “b-” rating in a report on Monday, April 24th.
Shares of Aaron’s, (NYSE AAN) traded up 1.39% during midday trading on Friday, hitting $39.42. The stock had a trading volume of 910,335 shares. The company has a market cap of $2.79 billion, a P/E ratio of 20.04 and a beta of 0.18. Aaron’s, has a one year low of $20.51 and a one year high of $40.33. The firm has a 50 day moving average of $36.90 and a 200-day moving average of $31.96.
Aaron’s, (NYSE:AAN) last posted its quarterly earnings results on Friday, April 28th. The company reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.14. The business had revenue of $844.60 million during the quarter, compared to the consensus estimate of $830.44 million. Aaron’s, had a net margin of 4.47% and a return on equity of 11.81%. Aaron’s, ‘s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. On average, analysts forecast that Aaron’s, will post $2.40 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Tuesday, June 27th will be given a $0.0275 dividend. This represents a $0.11 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date is Friday, June 23rd. Aaron’s, ‘s dividend payout ratio is presently 5.58%.
In other news, CAO Robert W. Kamerschen sold 4,000 shares of the business’s stock in a transaction on Monday, April 17th. The shares were sold at an average price of $30.32, for a total value of $121,280.00. Following the sale, the chief accounting officer now owns 36,999 shares of the company’s stock, valued at $1,121,809.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO John W. Robinson sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $36.80, for a total transaction of $552,000.00. Following the sale, the chief executive officer now directly owns 363,440 shares in the company, valued at $13,374,592. The disclosure for this sale can be found here. In the last three months, insiders sold 47,750 shares of company stock worth $1,542,268. 1.93% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Aaron’s, by 14,081.2% in the first quarter. BlackRock Inc. now owns 6,938,700 shares of the company’s stock valued at $206,356,000 after buying an additional 6,889,771 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Aaron’s, by 6.1% in the first quarter. Vanguard Group Inc. now owns 6,298,343 shares of the company’s stock valued at $187,313,000 after buying an additional 361,856 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Aaron’s, by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,115,590 shares of the company’s stock valued at $195,638,000 after buying an additional 122,162 shares during the last quarter. LSV Asset Management raised its position in shares of Aaron’s, by 49.0% in the first quarter. LSV Asset Management now owns 2,020,086 shares of the company’s stock valued at $60,077,000 after buying an additional 664,286 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Aaron’s, by 1.4% in the third quarter. Northern Trust Corp now owns 1,448,735 shares of the company’s stock valued at $36,827,000 after buying an additional 20,499 shares during the last quarter. 99.83% of the stock is currently owned by hedge funds and other institutional investors.
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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