Brokerages Set Aaron’s Holdings Company, Inc. (NYSE:PRG) Target Price at $38.83

Shares of Aaron’s Holdings Company, Inc. (NYSE:PRG) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $38.8333.

PRG has been the subject of several research analyst reports. B. Riley initiated coverage on Aaron’s in a research report on Tuesday, December 16th. They issued a “buy” rating and a $50.00 price objective for the company. BTIG Research raised Aaron’s from a “sell” rating to a “neutral” rating and set a $31.00 price target for the company in a report on Friday, November 21st. TD Cowen decreased their price objective on shares of Aaron’s from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Wall Street Zen downgraded shares of Aaron’s from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Aaron’s in a research note on Thursday, January 22nd.

Aaron’s Price Performance

Shares of Aaron’s stock opened at $32.68 on Wednesday. Aaron’s has a 1-year low of $23.50 and a 1-year high of $44.42. The firm’s 50-day moving average price is $30.90 and its two-hundred day moving average price is $31.56. The company has a current ratio of 4.74, a quick ratio of 2.65 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 8.29 and a beta of 1.73.

Aaron’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, November 18th. Aaron’s’s payout ratio is currently 13.20%.

Hedge Funds Weigh In On Aaron’s

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada raised its position in shares of Aaron’s by 23.4% during the 1st quarter. Royal Bank of Canada now owns 35,910 shares of the company’s stock valued at $955,000 after acquiring an additional 6,807 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Aaron’s by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,363 shares of the company’s stock valued at $648,000 after purchasing an additional 1,162 shares during the last quarter. Millennium Management LLC increased its holdings in Aaron’s by 62.7% in the first quarter. Millennium Management LLC now owns 673,405 shares of the company’s stock valued at $17,913,000 after purchasing an additional 259,630 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Aaron’s by 5.4% in the first quarter. Goldman Sachs Group Inc. now owns 313,611 shares of the company’s stock valued at $8,342,000 after buying an additional 16,126 shares during the period. Finally, Caxton Associates LLP bought a new position in Aaron’s during the first quarter worth about $233,000. 97.92% of the stock is owned by institutional investors.

Aaron’s Company Profile

PROG Holdings, Inc (NYSE: PRG), formerly known as Aaron’s, is a North American provider of lease-to-own and consumer finance solutions. The company operates through two primary segments: Aaron’s Business Solutions and Progressive Financial Services. Through Aaron’s Business Solutions, PROG offers customers access to furniture, electronics, home appliances and technology products via lease ownership arrangements, serving both individual consumers and small businesses.

The Progressive Financial Services segment provides lease-purchase and retail point-of-sale financing programs to customers with limited credit histories.