Aaron’s Inc. (AAN) Trading 3% Higher
Aaron’s Inc. (NYSE:AAN)’s share price traded up 3% during mid-day trading on Wednesday . The stock traded as high as $22.93 and last traded at $22.84, with a volume of 343,620 shares changing hands. The stock had previously closed at $22.17.
Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Aaron’s from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Wednesday, April 27th. Sidoti assumed coverage on Aaron’s in a research report on Wednesday, April 13th. They issued a “buy” rating and a $33.00 price target on the stock. Stifel Nicolaus restated a “buy” rating on shares of Aaron’s in a research report on Tuesday, March 29th. Finally, Topeka Capital Markets assumed coverage on Aaron’s in a research report on Monday, May 23rd. They issued a “buy” rating and a $30.00 price target on the stock. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $31.36.
The stock has a market cap of $1.66 billion and a price-to-earnings ratio of 12.27. The firm has a 50 day moving average price of $23.41 and a 200-day moving average price of $23.67.
Aaron’s (NYSE:AAN) last issued its quarterly earnings results on Friday, April 29th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.75 by $0.04. The firm had revenue of $854.40 million for the quarter, compared to analyst estimates of $866.48 million. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 earnings per share. On average, equities analysts expect that Aaron’s Inc. will post $2.24 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Saturday, June 4th were issued a $0.025 dividend. The ex-dividend date was Wednesday, June 1st. This represents a $0.10 dividend on an annualized basis and a yield of 0.44%.
A number of institutional investors have modified their holdings of AAN. Diamond Hill Capital Management Inc. boosted its position in shares of Aaron’s by 48.4% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,159,899 shares of the company’s stock worth $48,360,000 after buying an additional 704,513 shares in the last quarter. Brandes Investment Partners LP acquired a new position in shares of Aaron’s during the fourth quarter worth about $7,253,000. Wedge Capital Management L L P NC boosted its position in shares of Aaron’s by 100.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 557,415 shares of the company’s stock worth $12,481,000 after buying an additional 279,100 shares in the last quarter. Stephens Investment Management Group LLC boosted its position in shares of Aaron’s by 45.6% in the fourth quarter. Stephens Investment Management Group LLC now owns 747,070 shares of the company’s stock worth $16,727,000 after buying an additional 234,015 shares in the last quarter. Finally, Lapides Asset Management LLC acquired a new position in shares of Aaron’s during the fourth quarter worth about $3,627,000.
Aaron’s, Inc (Aaron’s) is a specialty retailer of furniture, consumer electronics, computers, appliances and household accessories. The Company operates through five segments: The Aaron’s Sales and Lease Ownership segment, which offers furniture, electronics, appliances and computers to consumers on a monthly payment basis; Progressive, which is a virtual lease-to-own company that provides lease-purchase solutions; The HomeSmart segment, which offers furniture, electronics, appliances and computers to consumers on a weekly payment basis; Franchise, which awards franchises and supports franchisees of its sales and lease ownership concept, and Manufacturing segment, which manufactures upholstered furniture and bedding for use by Company-operated and franchised stores.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.