Truist Financial Boosts Aaron’s (NYSE:AAN) Price Target to $10.10

Aaron’s (NYSE:AAN) had its price target boosted by Truist Financial from $8.00 to $10.10 in a report published on Tuesday, Benzinga reports. The firm currently has a hold rating on the stock.

Other equities analysts have also recently issued reports about the company. StockNews.com cut Aaron’s from a buy rating to a hold rating in a report on Friday, June 7th. BTIG Research initiated coverage on shares of Aaron’s in a research report on Friday, June 7th. They set a neutral rating on the stock. Stifel Nicolaus restated a hold rating and issued a $7.00 price objective on shares of Aaron’s in a report on Monday, March 11th. Finally, TD Cowen increased their target price on shares of Aaron’s from $8.00 to $10.10 and gave the company a hold rating in a report on Monday. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Aaron’s has a consensus rating of Hold and an average price target of $11.70.

Aaron’s Trading Down 0.5 %

NYSE:AAN opened at $9.98 on Tuesday. Aaron’s has a 12 month low of $6.62 and a 12 month high of $16.16. The company has a current ratio of 1.03, a quick ratio of 0.72 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average is $7.68 and its 200 day moving average is $8.87. The stock has a market capitalization of $305.65 million, a PE ratio of -12.63 and a beta of 1.39.

Aaron’s (NYSE:AAN) last posted its earnings results on Monday, May 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). Aaron’s had a positive return on equity of 0.02% and a negative net margin of 1.15%. The company had revenue of $511.50 million for the quarter, compared to analysts’ expectations of $521.05 million. During the same quarter in the prior year, the company earned $0.66 EPS. The company’s revenue was down 7.7% on a year-over-year basis. Sell-side analysts expect that Aaron’s will post 0.11 earnings per share for the current year.

Aaron’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Friday, June 14th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.50 annualized dividend and a yield of 5.01%. Aaron’s’s dividend payout ratio (DPR) is presently -63.29%.

Institutional Investors Weigh In On Aaron’s

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AAN. Verity Asset Management Inc. grew its stake in shares of Aaron’s by 15.8% in the 1st quarter. Verity Asset Management Inc. now owns 19,732 shares of the company’s stock worth $148,000 after buying an additional 2,695 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Aaron’s during the first quarter valued at approximately $151,000. EMC Capital Management lifted its position in Aaron’s by 172.8% during the first quarter. EMC Capital Management now owns 12,211 shares of the company’s stock valued at $92,000 after purchasing an additional 7,735 shares during the period. EntryPoint Capital LLC purchased a new stake in Aaron’s in the first quarter worth approximately $130,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in Aaron’s in the first quarter worth about $430,000. 91.99% of the stock is owned by hedge funds and other institutional investors.

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.