Aaron’s’ (NYSE:AAN) Buy Rating Reaffirmed at Stephens
Other equities analysts also recently issued research reports about the stock. Jefferies Group reaffirmed a buy rating and set a $54.00 price target on shares of Aaron’s in a research note on Tuesday, December 26th. Northcoast Research set a $53.00 target price on shares of Aaron’s and gave the company a buy rating in a research note on Friday, December 1st. Sidoti raised shares of Aaron’s from a neutral rating to a buy rating and set a $45.00 target price on the stock in a research note on Wednesday, November 29th. Loop Capital raised shares of Aaron’s from a hold rating to a buy rating and set a $42.00 price target for the company in a report on Wednesday, November 8th. Finally, Zacks Investment Research raised shares of Aaron’s from a sell rating to a hold rating in a report on Thursday, December 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $46.10.
Aaron’s (NYSE:AAN) traded up $1.39 during midday trading on Wednesday, reaching $42.08. 556,300 shares of the company traded hands, compared to its average volume of 713,900. The company has a quick ratio of 0.74, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. Aaron’s has a 52-week low of $26.12 and a 52-week high of $48.22. The stock has a market capitalization of $2,977.62, a PE ratio of 22.15 and a beta of 0.22.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Wednesday, December 13th were given a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, December 12th. This is an increase from Aaron’s’s previous quarterly dividend of $0.03. This represents a $0.12 annualized dividend and a yield of 0.29%. Aaron’s’s dividend payout ratio (DPR) is currently 6.32%.
In other news, CEO John W. Robinson sold 15,000 shares of Aaron’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $36.24, for a total value of $543,600.00. Following the transaction, the chief executive officer now owns 337,340 shares of the company’s stock, valued at approximately $12,225,201.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven A. Michaels sold 4,000 shares of Aaron’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $37.15, for a total transaction of $148,600.00. Following the completion of the transaction, the chief financial officer now directly owns 56,769 shares in the company, valued at $2,108,968.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,003 shares of company stock worth $692,308. 1.93% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of AAN. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Aaron’s by 13.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,649 shares of the company’s stock valued at $103,000 after acquiring an additional 312 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in Aaron’s by 70.9% in the second quarter. Riverhead Capital Management LLC now owns 3,930 shares of the company’s stock valued at $153,000 after acquiring an additional 1,630 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Aaron’s by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,708 shares of the company’s stock valued at $183,000 after acquiring an additional 705 shares during the last quarter. KBC Group NV acquired a new stake in Aaron’s in the third quarter valued at approximately $192,000. Finally, ARP Americas LLC acquired a new stake in Aaron’s in the third quarter valued at approximately $209,000.
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Aaron’s Company Profile
Aaron’s, Inc (Aaron’s) is an omnichannel provider of lease-purchase solutions. The Company engages in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories through its Company-operated and franchised stores in Canada, as well as its e-commerce platform, Aarons.com.
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