Truist Financial Lowers Aaron’s (NYSE:AAN) Price Target to $8.00

Aaron’s (NYSE:AAN) had its price objective reduced by Truist Financial from $9.00 to $8.00 in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 8.55% from the stock’s previous close.

A number of other brokerages also recently weighed in on AAN. TD Cowen began coverage on Aaron’s in a report on Friday, March 8th. They issued a “market perform” rating and a $7.00 target price on the stock. Stifel Nicolaus reaffirmed a “hold” rating and set a $7.00 target price on shares of Aaron’s in a research report on Monday, March 11th. Finally, StockNews.com raised shares of Aaron’s from a “hold” rating to a “buy” rating in a research report on Saturday, April 6th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Aaron’s has a consensus rating of “Hold” and an average target price of $11.50.

Aaron’s Trading Up 1.2 %

Shares of Aaron’s stock traded up $0.09 on Wednesday, reaching $7.37. 40,937 shares of the company were exchanged, compared to its average volume of 262,031. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.28. Aaron’s has a fifty-two week low of $6.62 and a fifty-two week high of $16.16. The firm has a market capitalization of $232.08 million, a price-to-earnings ratio of 93.50 and a beta of 1.31. The stock has a fifty day moving average price of $7.23 and a 200-day moving average price of $8.90.

Aaron’s (NYSE:AAN) last issued its quarterly earnings results on Monday, May 6th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The firm had revenue of $511.50 million during the quarter, compared to analysts’ expectations of $521.05 million. Aaron’s had a net margin of 0.13% and a return on equity of 3.59%. The firm’s revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 EPS. On average, analysts expect that Aaron’s will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Aaron’s

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. WINTON GROUP Ltd bought a new position in shares of Aaron’s in the third quarter worth about $277,000. Nordea Investment Management AB lifted its stake in shares of Aaron’s by 1.9% during the third quarter. Nordea Investment Management AB now owns 123,953 shares of the company’s stock valued at $1,314,000 after acquiring an additional 2,261 shares during the period. Qube Research & Technologies Ltd acquired a new stake in Aaron’s in the third quarter worth about $1,896,000. Charles Schwab Investment Management Inc. raised its holdings in Aaron’s by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 912,168 shares of the company’s stock worth $9,550,000 after purchasing an additional 50,301 shares during the last quarter. Finally, AM Investment Strategies LLC bought a new position in shares of Aaron’s in the 4th quarter valued at about $180,000. 91.99% of the stock is currently owned by institutional investors and hedge funds.

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.