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

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

AAN has been the topic of a number of other reports. Loop Capital increased their price objective on shares of Aaron’s from $8.00 to $10.00 and gave the company a “hold” rating in a research report on Tuesday, June 18th. Jefferies Financial Group restated a “hold” rating and issued a $10.10 price target (down from $11.00) on shares of Aaron’s in a research note on Wednesday, July 10th. TD Cowen upped their price objective on Aaron’s from $8.00 to $10.10 and gave the stock a “hold” rating in a research report on Monday, June 17th. Finally, Truist Financial raised their target price on Aaron’s from $8.00 to $10.10 and gave the stock a “hold” rating in a research report on Tuesday, June 18th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $9.46.

Aaron’s Price Performance

Aaron’s stock opened at $10.09 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 1.02 and a debt-to-equity ratio of 0.33. Aaron’s has a 52-week low of $6.62 and a 52-week high of $11.90. The firm has a market cap of $318.06 million, a PE ratio of -12.77 and a beta of 1.43. The company’s 50 day moving average is $10.05 and its two-hundred day moving average is $8.94.

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

Institutional Trading of Aaron’s

A number of institutional investors have recently added to or reduced their stakes in AAN. Water Island Capital LLC acquired a new stake in shares of Aaron’s in the second quarter valued at approximately $9,711,000. Acadian Asset Management LLC boosted its stake in shares of Aaron’s by 25.5% during the first quarter. Acadian Asset Management LLC now owns 807,933 shares of the company’s stock valued at $6,056,000 after acquiring an additional 164,392 shares during the last quarter. Gabelli Funds LLC purchased a new stake in Aaron’s during the 2nd quarter worth about $3,230,000. Alpine Associates Management Inc. acquired a new position in Aaron’s in the 2nd quarter valued at about $8,379,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in Aaron’s in the 1st quarter valued at about $430,000. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Aaron’s Company Profile

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.