Aaron’s (NYSE:AAN) Given New $8.00 Price Target at Truist Financial

Aaron’s (NYSE:AAN) had its target price cut by Truist Financial from $9.00 to $8.00 in a research note released on Wednesday, MarketBeat reports. They currently have a hold rating on the stock.

AAN has been the topic of several other reports. Stifel Nicolaus reissued a hold rating and issued a $7.00 target price on shares of Aaron’s in a report on Monday, March 11th. StockNews.com upgraded shares of Aaron’s from a hold rating to a buy rating in a report on Saturday, April 6th. Finally, TD Cowen started coverage on Aaron’s in a research note on Friday, March 8th. They issued a market perform rating and a $7.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Aaron’s currently has an average rating of Hold and a consensus target price of $11.50.

Aaron’s Stock Up 0.1 %

AAN stock opened at $7.57 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.04 and a quick ratio of 0.73. The firm has a market cap of $238.34 million, a PE ratio of -9.56 and a beta of 1.31. Aaron’s has a 12 month low of $6.62 and a 12 month high of $16.16. The firm has a 50 day simple moving average of $7.22 and a 200 day simple moving average of $8.89.

Aaron’s (NYSE:AAN) last issued its quarterly earnings results on Monday, May 6th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). Aaron’s had a net margin of 0.13% and a return on equity of 3.59%. The business had revenue of $511.50 million for the quarter, compared to analysts’ expectations of $521.05 million. During the same quarter in the prior year, the firm posted $0.66 EPS. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. Equities research analysts forecast that Aaron’s will post 0.08 earnings per share for the current fiscal year.

Aaron’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Friday, June 14th will be given a $0.125 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.50 annualized dividend and a yield of 6.61%. Aaron’s’s dividend payout ratio is presently -63.29%.

Hedge Funds Weigh In On Aaron’s

Several large investors have recently bought and sold shares of AAN. Charles Schwab Investment Management Inc. lifted its position in shares of Aaron’s by 10.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,005,375 shares of the company’s stock valued at $10,938,000 after acquiring an additional 93,207 shares during the period. LSV Asset Management raised its stake in Aaron’s by 4.3% during the fourth quarter. LSV Asset Management now owns 1,000,532 shares of the company’s stock worth $10,886,000 after purchasing an additional 41,600 shares during the period. American Century Companies Inc. increased its holdings in shares of Aaron’s by 18.4% during the 3rd quarter. American Century Companies Inc. now owns 494,868 shares of the company’s stock worth $5,181,000 after buying an additional 76,905 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Aaron’s by 15.8% in the 4th quarter. New York State Common Retirement Fund now owns 407,498 shares of the company’s stock worth $4,434,000 after purchasing an additional 55,740 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of Aaron’s by 16.0% in the third quarter. Acadian Asset Management LLC now owns 406,661 shares of the company’s stock worth $4,255,000 after acquiring an additional 56,094 shares in the last quarter. 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.