Aaron’s, Inc. (NYSE:AAN)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $40.60 and last traded at $40.57, with a volume of 270,021 shares traded. The stock had previously closed at $39.70.
A number of research firms have recently issued reports on AAN. BidaskClub lowered Aaron’s, from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 7th. TheStreet upgraded Aaron’s, from a “c+” rating to a “b-” rating in a research note on Monday, April 24th. Jefferies Group LLC increased their target price on Aaron’s, from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, May 1st. Loop Capital reiterated a “hold” rating and issued a $28.00 target price on shares of Aaron’s, in a research note on Sunday, April 23rd. Finally, Zacks Investment Research upgraded Aaron’s, from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $38.00.
The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 20.62 and a beta of 0.14. The stock’s 50 day moving average price is $38.89 and its 200-day moving average price is $33.21.
Aaron’s, (NYSE:AAN) last announced its quarterly earnings results on Friday, April 28th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.14. Aaron’s, had a return on equity of 11.81% and a net margin of 4.47%. The company had revenue of $844.60 million during the quarter, compared to analysts’ expectations of $830.44 million. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. Equities research analysts expect that Aaron’s, Inc. will post $2.40 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Tuesday, June 27th were given a $0.0275 dividend. The ex-dividend date of this dividend was Friday, June 23rd. This represents a $0.11 dividend on an annualized basis and a dividend yield of 0.28%. Aaron’s, ‘s dividend payout ratio is currently 5.58%.
In other news, CAO Robert W. Kamerschen sold 5,000 shares of Aaron’s, stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $37.39, for a total value of $186,950.00. Following the transaction, the chief accounting officer now directly owns 31,999 shares in the company, valued at $1,196,442.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John W. Robinson sold 15,000 shares of Aaron’s, stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $36.80, for a total value of $552,000.00. Following the completion of the transaction, the chief executive officer now owns 363,440 shares in the company, valued at $13,374,592. The disclosure for this sale can be found here. Insiders own 1.93% of the company’s stock.
Several institutional investors have recently bought and sold shares of AAN. Acadian Asset Management LLC raised its position in Aaron’s, by 3,522.0% in the second quarter. Acadian Asset Management LLC now owns 308,699 shares of the company’s stock worth $12,009,000 after buying an additional 300,176 shares during the last quarter. Parametrica Management Ltd purchased a new position in shares of Aaron’s, during the second quarter valued at about $321,000. First Citizens Bank & Trust Co. purchased a new position in shares of Aaron’s, during the second quarter valued at about $439,000. Aperio Group LLC raised its position in shares of Aaron’s, by 67.3% in the second quarter. Aperio Group LLC now owns 218,816 shares of the company’s stock valued at $8,512,000 after buying an additional 87,985 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of Aaron’s, by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 16,400 shares of the company’s stock valued at $638,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.
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About Aaron’s,
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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