Bank of America Boosts Aaron's (NYSE:AAN) Price Target to $7.80
also issued reports on the stock. Bank of America raises price objective for Aaron's stock.
AAN has also been the subject of recent comments from other analysts. Stephens reiterated an equal-weight rating and set a $18.00 price target on Aaron's shares in a report published on Thursday, 2nd March. Aaron's was the subject of a research report published on Thursday 16th March. The analysts gave the stock a buy recommendation. Three analysts gave the stock a buy recommendation, two analysts rated it as a sell and one analyst rated it as a hold. On Thursday, the stock opened at $10.59. The company's market cap is $337.08m, with a P/E ratio of -55.74. It also has a beta value of 0.96. The company's debt-to equity ratio is 0.35. Its current ratio is 1.00, and its quick ratio 0.64. Aaron's had a low 1-year of $7.64, and a high 1-year of $22.43. The 50-day moving-average of the stock is $11.83 while its 200-day moving-average is $11.67.
The company released its last quarterly earnings report on Thursday, 2nd March. The company posted $0.09 per share for the quarter. This was $0.11 higher than the consensus estimate ($0.02) Aaron's reported a negative margin of 0.23%, and a positive Return on Equity of 9.09%. Revenue for the quarter was $589.60 millions, which is lower than analyst expectations of $591.15. In the same quarter last year, the company earned $0.60 per share. Revenue for the third quarter increased by 32.6% when compared with the same period last year. Analysts predict that Aaron's is expected to post 0.91 earnings per share for the current fiscal.
Aaron's Increases Dividend
A quarterly dividend was also paid by the firm on April 4th. Investors who had their accounts open on the 16th of March received a dividend of $0.125. This dividend's ex-dividend was on March 15th. Aaron's's quarterly dividend was $0.11, so this is an increase. This is a $0.50 dividend annualized and a dividend rate of 4.72%. Aaron's current payout ratio is -263.16%.
Hedge Funds weigh in on Aaron's
AAN has recently seen a number of large investors buy and sell shares. Palisade Capital Management LP increased its stake in Aaron's in the fourth quarter by 17.0%. Palisade Capital Management LP owns 1,132.442 shares valued at $13,533,000, after acquiring 164.424 additional shares during the period. DGS Capital Management LLC increased its stake in Aaron's in the fourth quarter by 8.3%. DGS Capital Management LLC owns 18,148 of the company’s shares valued at $217,000, after buying an additional 1,396 during the last quarter. State of Tennessee Treasury Department increased its stake in Aaron's in the fourth quarter by 4.3%. State of Tennessee Treasury Department owns 52.151 shares of Aaron's valued at $624,000, after buying an additional 2,145 during the last quarter. Captrust Financial Advisors purchased a new Aaron's position valued at $170,000 in the fourth quarter. State of Wisconsin Investment Board also increased its Aaron's position by 83.0% during the fourth quarter. State of Wisconsin Investment Board owns now 74,338 of the company stock valued at $88,000 after purchasing an additional 33 714 shares. 91.43% of company stock is owned by institutional investors and hedge fund.
Aaron's Company profile
The Aaron's Company, Inc. (NYSE: AAN), headquartered in Atlanta, is a leading, omnichannel, technology-enabled provider of lease-purchase options. Aaron's offers direct-to consumer sales of furniture, appliances and consumer electronics, and lease ownership through its 1,300 company-owned and franchised stores across 47 states and Canada. It also has an e-commerce site, Aarons.com.
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