Aaron’s, Inc. (NYSE:AAN) Director Ray M. Robinson sold 3,000 shares of the company’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $49.19, for a total value of $147,570.00. Following the sale, the director now directly owns 26,936 shares of the company’s stock, valued at $1,324,981.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Aaron’s stock traded up $0.70 during mid-day trading on Tuesday, hitting $50.17. The company’s stock had a trading volume of 392,800 shares, compared to its average volume of 718,811. The company has a market cap of $3.40 billion, a P/E ratio of 19.63 and a beta of 0.03. The company has a current ratio of 2.60, a quick ratio of 0.70 and a debt-to-equity ratio of 0.16. Aaron’s, Inc. has a 52-week low of $34.29 and a 52-week high of $50.80.
Aaron’s (NYSE:AAN) last announced its quarterly earnings data on Thursday, July 26th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. The firm had revenue of $927.90 million during the quarter, compared to the consensus estimate of $924.86 million. Aaron’s had a return on equity of 11.54% and a net margin of 8.14%. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.68 EPS. equities analysts forecast that Aaron’s, Inc. will post 3.41 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 5th. Investors of record on Thursday, September 20th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.24%. The ex-dividend date is Wednesday, September 19th. Aaron’s’s dividend payout ratio is currently 4.69%.
AAN has been the subject of several analyst reports. Zacks Investment Research raised Aaron’s from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Tuesday, July 31st. Stifel Nicolaus upped their target price on Aaron’s from $53.00 to $58.00 and gave the company a “buy” rating in a report on Friday, July 27th. ValuEngine raised Aaron’s from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Northcoast Research reaffirmed a “buy” rating on shares of Aaron’s in a report on Tuesday, July 24th. Finally, Loop Capital raised Aaron’s from a “hold” rating to a “buy” rating in a report on Monday, April 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. Aaron’s currently has an average rating of “Buy” and a consensus target price of $50.73.
A number of institutional investors have recently made changes to their positions in AAN. Wedge Capital Management L L P NC lifted its stake in Aaron’s by 88.2% in the 2nd quarter. Wedge Capital Management L L P NC now owns 2,601,402 shares of the company’s stock worth $113,031,000 after acquiring an additional 1,219,143 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in Aaron’s in the 2nd quarter worth about $28,126,000. Nuveen Asset Management LLC lifted its stake in Aaron’s by 107.4% in the 1st quarter. Nuveen Asset Management LLC now owns 1,097,198 shares of the company’s stock worth $51,129,000 after acquiring an additional 568,252 shares in the last quarter. BlackRock Inc. lifted its stake in Aaron’s by 6.7% in the 2nd quarter. BlackRock Inc. now owns 7,434,486 shares of the company’s stock worth $323,026,000 after acquiring an additional 469,427 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Aaron’s by 117.4% in the 2nd quarter. Wells Fargo & Company MN now owns 850,585 shares of the company’s stock worth $36,959,000 after acquiring an additional 459,401 shares in the last quarter.
Aaron's, Inc operates as an omnichannel provider of lease-purchase solutions. It operates through three segments: Progressive Leasing, Aaron's Business, and DAMI. The company engages in the sale, lease ownership, and specialty retailing of furniture, consumer electronics, home appliances, and accessories.
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