Aaron’s, Inc. (NYSE:AAN) declared a quarterly dividend on Thursday, August 8th, Zacks reports. Investors of record on Thursday, September 19th will be given a dividend of 0.035 per share on Friday, October 4th. This represents a $0.14 annualized dividend and a yield of 0.22%. The ex-dividend date is Wednesday, September 18th.
Aaron’s has raised its dividend by an average of 9.3% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Aaron’s has a payout ratio of 4.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Aaron’s to earn $4.48 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 3.1%.
Shares of AAN stock opened at $62.75 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.77 and a quick ratio of 0.63. Aaron’s has a fifty-two week low of $39.28 and a fifty-two week high of $68.44. The stock’s 50-day moving average is $63.32 and its two-hundred day moving average is $58.21. The firm has a market cap of $4.24 billion, a P/E ratio of 18.68, a PEG ratio of 1.06 and a beta of 0.50.
Several research firms have recently issued reports on AAN. Northcoast Research upped their price target on Aaron’s from $65.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Zacks Investment Research upgraded Aaron’s from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research note on Tuesday, August 20th. Stephens set a $67.00 price target on Aaron’s and gave the stock a “buy” rating in a research note on Wednesday, June 12th. KeyCorp upped their price target on Aaron’s from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Raymond James set a $72.00 target price on Aaron’s and gave the company a “buy” rating in a research note on Friday, July 26th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $69.88.
In other Aaron’s news, CFO Steven A. Michaels sold 3,000 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $61.90, for a total value of $185,700.00. Following the transaction, the chief financial officer now directly owns 54,554 shares in the company, valued at approximately $3,376,892.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas A. Lindsay sold 2,500 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $61.68, for a total value of $154,200.00. Following the completion of the transaction, the insider now owns 46,068 shares in the company, valued at $2,841,474.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,758 shares of company stock valued at $1,349,246. 2.78% of the stock is currently owned by insiders.
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.
Further Reading: Overbought
Receive News & Ratings for Aaron's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aaron's and related companies with MarketBeat.com's FREE daily email newsletter.