Aaron’s (NYSE:AAN) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Aaron’s (NYSE:AAN) in a research report issued on Tuesday. The brokerage set a “hold” rating on the stock.

Several other research firms also recently weighed in on AAN. Jefferies Financial Group restated a “hold” rating and issued a $10.10 target price (down previously from $11.00) on shares of Aaron’s in a research report on Wednesday, July 10th. Loop Capital lifted their target price on shares of Aaron’s from $8.00 to $10.00 and gave the stock a “hold” rating in a research note on Tuesday, June 18th. TD Cowen upped their target price on shares of Aaron’s from $8.00 to $10.10 and gave the stock a “hold” rating in a report on Monday, June 17th. Truist Financial raised their price target on shares of Aaron’s from $8.00 to $10.10 and gave the stock a “hold” rating in a research note on Tuesday, June 18th. Finally, BTIG Research initiated coverage on shares of Aaron’s in a research note on Friday, June 7th. They set a “neutral” rating for the company. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $9.46.

Aaron’s Stock Performance

Shares of NYSE AAN opened at $10.00 on Tuesday. The company has a market capitalization of $315.06 million, a PE ratio of -12.65 and a beta of 1.43. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.70 and a current ratio of 1.02. The company’s fifty day moving average price is $10.04 and its 200 day moving average price is $8.84. Aaron’s has a 1 year low of $6.62 and a 1 year high of $11.90.

Aaron’s (NYSE:AAN) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Aaron’s had a negative return on equity of 2.08% and a negative net margin of 2.06%. The business had revenue of $503.10 million during the quarter, compared to analyst estimates of $513.91 million. During the same period in the previous year, the company posted $0.39 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, research analysts predict that Aaron’s will post -0.01 earnings per share for the current year.

Hedge Funds Weigh In On Aaron’s

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Water Island Capital LLC acquired a new stake in Aaron’s during the 2nd quarter worth approximately $9,711,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Aaron’s in the second quarter valued at $320,000. Millennium Management LLC boosted its holdings in Aaron’s by 139.7% in the second quarter. Millennium Management LLC now owns 392,405 shares of the company’s stock valued at $3,916,000 after purchasing an additional 228,678 shares during the period. AQR Capital Management LLC purchased a new position in Aaron’s in the second quarter valued at $2,096,000. Finally, Marshall Wace LLP acquired a new position in Aaron’s during the 2nd quarter worth $1,958,000. 91.99% of the stock is currently 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.