Truist Financial Trims Aaron’s (NYSE:AAN) Target Price to $8.00

Aaron’s (NYSE:AAN) had its price objective reduced by Truist Financial from $9.00 to $8.00 in a report published on Wednesday morning, Marketbeat reports. They currently have a hold rating on the stock.

Several other equities research analysts have also recently weighed in on AAN. StockNews.com raised Aaron’s from a hold rating to a buy rating in a research note on Saturday, April 6th. TD Cowen initiated coverage on shares of Aaron’s in a research note on Friday, March 8th. They set a market perform rating and a $7.00 price objective on the stock. Finally, Stifel Nicolaus reiterated a hold rating and set a $7.00 target price on shares of Aaron’s in a report on Monday, March 11th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Aaron’s presently has an average rating of Hold and an average target price of $11.50.

Aaron’s Trading Up 0.1 %

AAN opened at $7.57 on Wednesday. The firm has a market capitalization of $238.34 million, a price-to-earnings ratio of -9.56 and a beta of 1.31. Aaron’s has a one year low of $6.62 and a one year high of $16.16. The business has a 50 day simple moving average of $7.22 and a two-hundred day simple moving average of $8.89. 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 analysts’ consensus estimates of ($0.07) by ($0.08). The business had revenue of $511.50 million during the quarter, compared to analysts’ expectations 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 was down 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 EPS. Analysts predict that Aaron’s will post 0.08 EPS for the current year.

Aaron’s Announces Dividend

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

Hedge Funds Weigh In On Aaron’s

Institutional investors and hedge funds have recently modified their holdings of the stock. Gladius Capital Management LP lifted its position in shares of Aaron’s by 80.0% in the third quarter. Gladius Capital Management LP now owns 2,603 shares of the company’s stock valued at $27,000 after acquiring an additional 1,157 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Aaron’s during the fourth quarter worth $29,000. Copeland Capital Management LLC raised its position in shares of Aaron’s by 54,820.0% in the fourth quarter. Copeland Capital Management LLC now owns 2,746 shares of the company’s stock valued at $30,000 after buying an additional 2,741 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Aaron’s by 231.2% in the third quarter. Signaturefd LLC now owns 2,865 shares of the company’s stock worth $30,000 after buying an additional 2,000 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new position in Aaron’s during the fourth quarter worth about $51,000. 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.