Bank of America Boosts Aaron's (NYSE:AAN) Price Target to $7.80

The Fly
reports.

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

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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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