Teacher Retirement System of Texas lifted its position in shares of Aaron's, Inc. (NYSE:AAN) by 315.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,744 shares of the company’s stock after buying an additional 16,511 shares during the period. Teacher Retirement System of Texas’ holdings in Aaron's were worth $866,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in AAN. Parametric Portfolio Associates LLC lifted its position in shares of Aaron's by 9.8% during the third quarter. Parametric Portfolio Associates LLC now owns 286,095 shares of the company’s stock worth $12,482,000 after purchasing an additional 25,507 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in Aaron's during the third quarter worth about $777,000. USA Financial Portformulas Corp acquired a new stake in Aaron's during the third quarter worth about $482,000. American International Group Inc. raised its stake in Aaron's by 2.0% during the third quarter. American International Group Inc. now owns 169,836 shares of the company’s stock worth $7,410,000 after acquiring an additional 3,276 shares during the period. Finally, Strs Ohio raised its stake in Aaron's by 4.8% during the fourth quarter. Strs Ohio now owns 34,600 shares of the company’s stock worth $1,378,000 after acquiring an additional 1,600 shares during the period.
In other Aaron's news, Director Robert H. Yanker sold 40,195 shares of the business’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $47.69, for a total value of $1,916,899.55. Following the completion of the transaction, the director now directly owns 8,038 shares of the company’s stock, valued at $383,332.22. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Robert P. Sinclair, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $48.00, for a total transaction of $48,000.00. Following the sale, the insider now directly owns 13,163 shares of the company’s stock, valued at $631,824. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,647 shares of company stock worth $2,033,048. Company insiders own 1.93% of the company’s stock.
Shares of Aaron's, Inc. (AAN) traded down $0.01 on Wednesday, reaching $48.34. 586,818 shares of the company traded hands, compared to its average volume of 802,556. The company has a quick ratio of 0.80, a current ratio of 2.73 and a debt-to-equity ratio of 0.21. The company has a market cap of $3,426.06, a P/E ratio of 11.94 and a beta of 0.07. Aaron's, Inc. has a 12-month low of $28.12 and a 12-month high of $49.77.
Aaron's (NYSE:AAN) last issued its earnings results on Thursday, February 15th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.10. Aaron's had a net margin of 8.65% and a return on equity of 11.64%. The business had revenue of $884.60 million for the quarter, compared to analyst estimates of $871.07 million. During the same period in the previous year, the business earned $0.50 EPS. The firm’s revenue was up 11.3% on a year-over-year basis. equities research analysts forecast that Aaron's, Inc. will post 3.41 EPS for the current year.
Aaron's announced that its Board of Directors has approved a stock buyback plan on Thursday, February 15th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 23rd will be given a $0.03 dividend. The ex-dividend date of this dividend is Thursday, March 22nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.25%. Aaron's’s dividend payout ratio (DPR) is presently 2.96%.
Several equities research analysts have commented on the stock. ValuEngine upgraded shares of Aaron's from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Loop Capital lowered shares of Aaron's from a “buy” rating to a “hold” rating and set a $42.00 price objective on the stock. in a research note on Wednesday, January 24th. SunTrust Banks reiterated a “buy” rating on shares of Aaron's in a research note on Friday, February 16th. Piper Jaffray Companies raised their target price on shares of Aaron's from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Thursday, February 15th. Finally, KeyCorp raised their target price on shares of Aaron's from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Aaron's has a consensus rating of “Buy” and an average target price of $46.36.
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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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