Aaron’s (NYSE:AAN) Downgraded to “Hold” at StockNews.com

StockNews.com lowered shares of Aaron’s (NYSE:AAN) from a buy rating to a hold rating in a research report released on Wednesday morning.

A number of other research analysts also recently weighed in on AAN. Stifel Nicolaus reissued a hold rating and issued a $7.00 price objective on shares of Aaron’s in a research note on Monday, March 11th. TD Cowen began coverage on shares of Aaron’s in a report on Friday, March 8th. They issued a market perform rating and a $7.00 target price on the stock. Finally, Truist Financial lowered their price target on Aaron’s from $9.00 to $8.00 and set a hold rating on the stock in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Aaron’s currently has an average rating of Hold and an average target price of $11.50.

Aaron’s Stock Up 0.1 %

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

Aaron’s (NYSE:AAN) last announced its quarterly earnings results on Monday, May 6th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The business had revenue of $511.50 million for the quarter, compared to analyst estimates of $521.05 million. Aaron’s had a return on equity of 3.59% and a net margin of 0.13%. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS. Equities research analysts forecast that Aaron’s will post 0.08 EPS 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 paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.50 dividend on an annualized basis and a yield of 6.61%. Aaron’s’s dividend payout ratio is currently -63.29%.

Institutional Trading of Aaron’s

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AAN. Strs Ohio lifted its holdings in Aaron’s by 17.4% during the 3rd quarter. Strs Ohio now owns 51,300 shares of the company’s stock valued at $537,000 after purchasing an additional 7,600 shares during the last quarter. CTC Alternative Strategies Ltd. bought a new position in shares of Aaron’s in the third quarter valued at about $105,000. Teacher Retirement System of Texas grew its holdings in Aaron’s by 94.1% during the 3rd quarter. Teacher Retirement System of Texas now owns 27,730 shares of the company’s stock worth $290,000 after acquiring an additional 13,446 shares during the last quarter. Olympiad Research LP boosted its holdings in Aaron’s by 52.5% during the third quarter. Olympiad Research LP now owns 23,321 shares of the company’s stock worth $244,000 after buying an additional 8,032 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of Aaron’s by 231.2% in the 3rd quarter. Signaturefd LLC now owns 2,865 shares of the company’s stock valued at $30,000 after acquiring an additional 2,000 shares during the period. Institutional investors 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.