Other equities analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Aaron’s from a sell rating to a hold rating in a research note on Tuesday, October 4th. TheStreet raised shares of Aaron’s from a hold rating to a buy rating in a research note on Thursday, September 1st. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Aaron’s has a consensus rating of Buy and an average price target of $29.93.
Shares of Aaron’s (NYSE:AAN) opened at 22.82 on Thursday. The firm has a market cap of $1.66 billion, a PE ratio of 12.46 and a beta of 0.23. The firm’s 50-day moving average price is $24.69 and its 200 day moving average price is $24.48. Aaron’s has a 52 week low of $20.24 and a 52 week high of $38.85.
Aaron’s (NYSE:AAN) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. Aaron’s had a net margin of 4.15% and a return on equity of 11.01%. The business had revenue of $789.40 million for the quarter, compared to the consensus estimate of $809.16 million. During the same period in the prior year, the business posted $0.61 earnings per share. Aaron’s’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts anticipate that Aaron’s will post $2.26 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd were given a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Wednesday, August 31st. Aaron’s’s dividend payout ratio is currently 5.43%.
In other Aaron’s news, Director Robert H. Yanker purchased 40,000 shares of the stock in a transaction dated Friday, August 19th. The shares were bought at an average cost of $25.29 per share, with a total value of $1,011,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.12% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. Teacher Retirement System of Texas increased its stake in shares of Aaron’s by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,128 shares of the company’s stock valued at $200,000 after buying an additional 1,108 shares in the last quarter. Amalgamated Bank acquired a new stake in shares of Aaron’s during the second quarter valued at about $203,000. Suntrust Banks Inc. increased its stake in shares of Aaron’s by 4.2% in the second quarter. Suntrust Banks Inc. now owns 10,675 shares of the company’s stock valued at $233,000 after buying an additional 433 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Aaron’s by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 11,178 shares of the company’s stock valued at $245,000 after buying an additional 29 shares in the last quarter. Finally, Miles Capital Inc. acquired a new stake in shares of Aaron’s during the second quarter valued at about $249,000. 92.00% of the stock is currently owned by institutional investors.
Aaron’s, Inc is a specialty retailer of furniture, consumer electronics, computers, appliances and household accessories. The Company’s operating segments include Sales and Lease Ownership, Progressive, HomeSmart, DAMI, Franchise, Manufacturing and Others. The Company’s store-based operations engage in the lease ownership and retail sale of a range of products, such televisions, computers, tablets, mobile phones, living room, dining room and bedroom furniture, mattresses, washers, dryers and refrigerators.
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