First Republic Investment Management Inc. bought a new stake in shares of Aaron’s, Inc. (NYSE:AAN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,083 shares of the company’s stock, valued at approximately $458,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Emerald Mutual Fund Advisers Trust purchased a new stake in Aaron’s during the second quarter valued at about $58,000. Capital Analysts LLC raised its holdings in shares of Aaron’s by 107.9% during the first quarter. Capital Analysts LLC now owns 1,343 shares of the company’s stock valued at $31,000 after acquiring an additional 697 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Aaron’s by 220.6% during the first quarter. Tower Research Capital LLC TRC now owns 1,507 shares of the company’s stock valued at $34,000 after acquiring an additional 1,037 shares during the period. Macquarie Group Ltd. raised its holdings in shares of Aaron’s by 13.4% during the second quarter. Macquarie Group Ltd. now owns 2,948 shares of the company’s stock valued at $134,000 after acquiring an additional 348 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Aaron’s by 14.9% during the second quarter. PNC Financial Services Group Inc. now owns 3,609 shares of the company’s stock valued at $164,000 after acquiring an additional 469 shares during the period. 96.56% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on the stock. Raymond James restated a “buy” rating on shares of Aaron’s in a report on Thursday, August 6th. Berenberg Bank started coverage on shares of Aaron’s in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $68.00 price objective on the stock. Zacks Investment Research upgraded shares of Aaron’s from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Wednesday, July 8th. ValuEngine lowered shares of Aaron’s from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, TheStreet upgraded shares of Aaron’s from a “d+” rating to a “c-” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $69.36.
In other Aaron’s news, CEO John W. Robinson sold 136,630 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $51.90, for a total value of $7,091,097.00. Following the transaction, the chief executive officer now directly owns 202,864 shares of the company’s stock, valued at approximately $10,528,641.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Curtis Linn Doman sold 105,990 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $59.14, for a total value of $6,268,248.60. Following the completion of the transaction, the insider now directly owns 170,049 shares in the company, valued at $10,056,697.86. The disclosure for this sale can be found here. Insiders have sold a total of 317,710 shares of company stock worth $17,292,059 over the last three months. 2.78% of the stock is owned by insiders.
Shares of NYSE AAN opened at $58.37 on Wednesday. The company has a current ratio of 3.04, a quick ratio of 1.09 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $3.91 billion, a P/E ratio of 14.88, a P/E/G ratio of 0.72 and a beta of 1.70. Aaron’s, Inc. has a 12 month low of $13.01 and a 12 month high of $78.65. The stock has a 50 day moving average of $55.59 and a 200-day moving average of $39.68.
Aaron’s (NYSE:AAN) last posted its earnings results on Wednesday, July 29th. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.36. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $991.07 million. Aaron’s had a positive return on equity of 16.23% and a negative net margin of 6.80%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.93 EPS. Analysts predict that Aaron’s, Inc. will post 4.43 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Thursday, September 17th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Wednesday, September 16th. Aaron’s’s payout ratio is presently 4.11%.
Aaron's, Inc operates as an omnichannel provider of lease-purchase solutions to underserved and credit-challenged customers. It operates in three segments: Progressive Leasing, Aaron's Business, and DAMI. The company also engages in the sale, lease ownership, and specialty retailing of furniture, consumer electronics, home appliances, and accessories.
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