Aaron’s, Inc. (AAN) Shares Gap Down to $38.41
Aaron’s, Inc. (NYSE:AAN) gapped down prior to trading on Tuesday . The stock had previously closed at $35.12, but opened at $38.41. Aaron’s, shares last traded at $39.21, with a volume of 757,753 shares traded.
AAN has been the subject of several analyst reports. Off Wall Street initiated coverage on Aaron’s, in a report on Monday. They issued a “sell” rating for the company. BidaskClub downgraded Aaron’s, from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 7th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $54.00 price target on shares of Aaron’s, in a research report on Thursday, August 31st. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of Aaron’s, in a research report on Monday, July 31st. Finally, Northcoast Research reaffirmed a “buy” rating and issued a $52.50 price target (up from $45.00) on shares of Aaron’s, in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $44.21.
The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 20.15 and a beta of 0.18. The stock’s 50 day moving average price is $43.85 and its 200-day moving average price is $37.21.
Aaron’s, (NYSE:AAN) last released its quarterly earnings results on Friday, July 28th. The company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.10. The business had revenue of $815.60 million during the quarter, compared to analysts’ expectations of $786.12 million. Aaron’s, had a return on equity of 12.00% and a net margin of 4.36%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $0.59 EPS. On average, equities analysts predict that Aaron’s, Inc. will post $2.56 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a dividend of $0.027 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.11 annualized dividend and a yield of 0.28%. Aaron’s, ‘s payout ratio is currently 5.64%.
In related news, CEO John W. Robinson sold 15,000 shares of Aaron’s, stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $46.11, for a total transaction of $691,650.00. Following the completion of the sale, the chief executive officer now directly owns 348,440 shares of the company’s stock, valued at approximately $16,066,568.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Steven A. Michaels sold 5,000 shares of Aaron’s, stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $46.26, for a total value of $231,300.00. Following the sale, the chief financial officer now directly owns 61,095 shares of the company’s stock, valued at $2,826,254.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,776 shares of company stock valued at $2,742,507. 1.93% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Aaron’s, by 4.3% during the 2nd quarter. BlackRock Inc. now owns 7,237,539 shares of the company’s stock worth $281,540,000 after purchasing an additional 298,839 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Aaron’s, by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,320,969 shares of the company’s stock worth $245,885,000 after purchasing an additional 22,626 shares during the last quarter. State Street Corp lifted its holdings in Aaron’s, by 6.8% during the 2nd quarter. State Street Corp now owns 2,235,516 shares of the company’s stock worth $86,967,000 after purchasing an additional 142,599 shares during the last quarter. Northern Trust Corp lifted its holdings in Aaron’s, by 6.2% during the 2nd quarter. Northern Trust Corp now owns 1,574,361 shares of the company’s stock worth $61,243,000 after purchasing an additional 91,801 shares during the last quarter. Finally, AJO LP lifted its holdings in Aaron’s, by 267.0% during the 2nd quarter. AJO LP now owns 1,468,601 shares of the company’s stock worth $57,129,000 after purchasing an additional 1,068,399 shares during the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.
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Aaron’s, Company Profile
Aaron’s, Inc (Aaron’s) is an omnichannel provider of lease-purchase solutions. The Company engages in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories through its Company-operated and franchised stores in Canada, as well as its e-commerce platform, Aarons.com.
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