Short Interest in Aaron’s, Inc. (NYSE:AAN) Rises By 7.8%

Aaron’s, Inc. (NYSE:AAN) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 3,061,000 shares, a growth of 7.8% from the June 30th total of 2,839,900 shares. Currently, 4.6% of the shares of the company are short sold. Based on an average daily trading volume, of 654,000 shares, the short-interest ratio is presently 4.7 days.

AAN has been the topic of several recent research reports. Raymond James set a $72.00 price objective on Aaron’s and gave the stock a “buy” rating in a research report on Friday, July 26th. Northcoast Research raised their price target on Aaron’s from $65.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. ValuEngine cut Aaron’s from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Loop Capital raised their price target on Aaron’s to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Stephens set a $67.00 price target on Aaron’s and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $68.50.

Shares of NYSE AAN opened at $62.50 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.63 and a current ratio of 2.77. Aaron’s has a 52 week low of $39.28 and a 52 week high of $68.44. The stock has a market capitalization of $4.28 billion, a P/E ratio of 18.60, a PEG ratio of 1.07 and a beta of 0.48. The stock’s fifty day moving average is $63.30 and its 200 day moving average is $56.68.

Aaron’s (NYSE:AAN) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.05. Aaron’s had a return on equity of 14.48% and a net margin of 5.20%. The company had revenue of $968.14 million for the quarter, compared to analysts’ expectations of $966.50 million. During the same quarter last year, the business earned $0.84 earnings per share. Aaron’s’s revenue was up 4.3% on a year-over-year basis. Equities research analysts forecast that Aaron’s will post 3.95 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Thursday, September 19th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend is Wednesday, September 18th. Aaron’s’s payout ratio is currently 4.17%.

In other Aaron’s news, insider Douglas A. Lindsay sold 2,500 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $61.68, for a total transaction of $154,200.00. Following the transaction, the insider now owns 46,068 shares in the company, valued at approximately $2,841,474.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan K. Woodley sold 10,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $60.00, for a total value of $600,000.00. Following the transaction, the chief executive officer now owns 84,010 shares in the company, valued at approximately $5,040,600. The disclosure for this sale can be found here. Insiders have sold a total of 34,758 shares of company stock worth $2,111,246 in the last quarter. Company insiders own 2.78% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Penserra Capital Management LLC bought a new position in shares of Aaron’s in the first quarter worth $28,000. Global Retirement Partners LLC grew its position in Aaron’s by 31.0% in the first quarter. Global Retirement Partners LLC now owns 778 shares of the company’s stock valued at $41,000 after acquiring an additional 184 shares during the last quarter. Krane Funds Advisors LLC bought a new position in Aaron’s in the second quarter valued at about $60,000. Tower Research Capital LLC TRC grew its position in Aaron’s by 293.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,035 shares of the company’s stock valued at $64,000 after acquiring an additional 772 shares during the last quarter. Finally, Quantamental Technologies LLC bought a new position in Aaron’s in the second quarter valued at about $87,000. Institutional investors own 97.31% of the company’s stock.

About Aaron’s

Aaron's, Inc operates as an omnichannel provider of lease-purchase solutions to underserved and credit-challenged customers. It operates in three segments: Progressive Leasing, Aaron's Business, and DAMI. The company also engages in the sale, lease ownership, and specialty retailing of furniture, consumer electronics, home appliances, and accessories.

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