Aaron’s Holdings Company, Inc. (NYSE:PRG) Receives $44.83 Average Price Target from Brokerages

Aaron’s Holdings Company, Inc. (NYSE:PRG) has earned a consensus rating of “Buy” from the six ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $44.83.

A number of equities research analysts have recently commented on the company. Loop Capital cut their target price on Aaron’s from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. KeyCorp dropped their price objective on Aaron’s from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Finally, Jefferies Financial Group cut Aaron’s from a “buy” rating to a “hold” rating and dropped their price objective for the company from $58.00 to $29.00 in a research report on Wednesday, February 26th.

Insider Buying and Selling at Aaron’s

In other news, CEO Steven A. Michaels bought 14,000 shares of the stock in a transaction on Monday, May 12th. The shares were bought at an average price of $29.03 per share, with a total value of $406,420.00. Following the completion of the acquisition, the chief executive officer now owns 559,641 shares in the company, valued at $16,246,378.23. The trade was a 2.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brian Garner acquired 3,500 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was bought at an average cost of $28.93 per share, for a total transaction of $101,255.00. Following the purchase, the chief financial officer now directly owns 132,597 shares of the company’s stock, valued at approximately $3,836,031.21. This trade represents a 2.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Strs Ohio bought a new position in shares of Aaron’s in the first quarter worth about $577,000. Intech Investment Management LLC raised its stake in shares of Aaron’s by 7.8% in the first quarter. Intech Investment Management LLC now owns 185,079 shares of the company’s stock worth $4,923,000 after buying an additional 13,354 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Aaron’s by 6.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 131,423 shares of the company’s stock worth $3,496,000 after buying an additional 7,542 shares during the period. Optimize Financial Inc raised its stake in shares of Aaron’s by 87.7% in the first quarter. Optimize Financial Inc now owns 14,013 shares of the company’s stock worth $373,000 after buying an additional 6,548 shares during the period. Finally, Dean Capital Management raised its stake in shares of Aaron’s by 2.6% in the first quarter. Dean Capital Management now owns 41,669 shares of the company’s stock worth $1,108,000 after buying an additional 1,064 shares during the period. Institutional investors own 97.92% of the company’s stock.

Aaron’s Trading Down 0.2%

NYSE PRG opened at $27.88 on Tuesday. Aaron’s has a 12 month low of $23.50 and a 12 month high of $50.28. The stock has a market cap of $1.13 billion, a P/E ratio of 5.71 and a beta of 1.79. The stock’s fifty day moving average price is $27.94 and its 200-day moving average price is $33.39. The company has a current ratio of 4.98, a quick ratio of 2.35 and a debt-to-equity ratio of 0.91.

Aaron’s (NYSE:PRG) last released its earnings results on Wednesday, April 23rd. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.08. Aaron’s had a return on equity of 23.11% and a net margin of 8.38%. The firm had revenue of $684.09 million for the quarter, compared to analysts’ expectations of $678.23 million. During the same period in the prior year, the firm posted $0.91 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, equities analysts forecast that Aaron’s will post 3.45 EPS for the current fiscal year.

Aaron’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Tuesday, May 20th. Aaron’s’s dividend payout ratio is 10.66%.

About Aaron’s

PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.