Aaron’s Inc. (AAN) Trading Down 4.3%
Aaron’s Inc. (NYSE:AAN) shares dropped 4.3% during mid-day trading on Thursday . The stock traded as low as $21.52 and last traded at $21.91, with a volume of 946,883 shares. The stock had previously closed at $22.90.
AAN has been the topic of several recent research reports. Topeka Capital Markets initiated coverage on shares of Aaron’s in a report on Monday, May 23rd. They set a “buy” rating and a $30.00 target price on the stock. Zacks Investment Research lowered shares of Aaron’s from a “hold” rating to a “sell” rating in a research report on Wednesday, April 20th. Finally, Sidoti started coverage on shares of Aaron’s in a research report on Wednesday, April 13th. They set a “buy” rating and a $33.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $31.36.
The company has a market capitalization of $1.74 billion and a PE ratio of 12.87. The company’s 50-day moving average is $22.76 and its 200 day moving average is $23.77.
Aaron’s (NYSE:AAN) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The company earned $789.40 million during the quarter, compared to analysts’ expectations of $809.16 million. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 earnings per share. On average, equities research analysts anticipate that Aaron’s Inc. will post $2.24 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Saturday, June 4th were issued a $0.025 dividend. The ex-dividend date of this dividend was Wednesday, June 1st. This represents a $0.10 annualized dividend and a yield of 0.42%.
A number of institutional investors have recently added to or reduced their stakes in AAN. Dimensional Fund Advisors LP increased its position in Aaron’s by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,613,592 shares of the company’s stock valued at $103,300,000 after buying an additional 38,829 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Aaron’s by 300.8% in the fourth quarter. BNP Paribas Arbitrage SA now owns 58,644 shares of the company’s stock valued at $1,313,000 after buying an additional 44,014 shares in the last quarter. Stephens Investment Management Group LLC increased its position in Aaron’s by 45.6% in the fourth quarter. Stephens Investment Management Group LLC now owns 747,070 shares of the company’s stock valued at $16,727,000 after buying an additional 234,015 shares in the last quarter. Dean Investment Associates LLC increased its position in Aaron’s by 71.9% in the fourth quarter. Dean Investment Associates LLC now owns 166,180 shares of the company’s stock valued at $3,721,000 after buying an additional 69,520 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in Aaron’s during the fourth quarter valued at $1,068,000.
Aaron’s, Inc is a specialty retailer of furniture, consumer electronics, computers, appliances and household accessories. The Company’s operating segments include Sales and Lease Ownership, Progressive, HomeSmart, DAMI, Franchise, Manufacturing and Others. The Company’s store-based operations engage in the lease ownership and retail sale of a range of products, such televisions, computers, tablets, mobile phones, living room, dining room and bedroom furniture, mattresses, washers, dryers and refrigerators.
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