Aaron’s (NYSE:AAN) Price Target Cut to $8.00

Aaron’s (NYSE:AAN) had its price objective cut by Truist Financial from $9.00 to $8.00 in a research note issued on Wednesday, MarketBeat.com reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price target suggests a potential upside of 8.55% from the stock’s current price.

AAN has been the topic of a number of other reports. TD Cowen started coverage on shares of Aaron’s in a research note on Friday, March 8th. They issued a “market perform” rating and a $7.00 price objective on the stock. StockNews.com upgraded Aaron’s from a “hold” rating to a “buy” rating in a research note on Saturday, April 6th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $7.00 price objective on shares of Aaron’s in a research note on Monday, March 11th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Aaron’s presently has an average rating of “Hold” and an average price target of $11.50.

Aaron’s Trading Up 1.2 %

Aaron’s stock traded up $0.09 during trading hours on Wednesday, reaching $7.37. 40,937 shares of the company’s stock were exchanged, compared to its average volume of 262,031. The firm has a market capitalization of $232.08 million, a PE ratio of 93.50 and a beta of 1.31. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.28. The firm’s 50 day simple moving average is $7.23 and its 200 day simple moving average is $8.90. Aaron’s has a twelve month low of $6.62 and a twelve month high of $16.16.

Aaron’s (NYSE:AAN) last posted its quarterly earnings results on Monday, May 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). Aaron’s had a return on equity of 3.59% and a net margin of 0.13%. The business had revenue of $511.50 million for the quarter, compared to the consensus estimate of $521.05 million. During the same quarter in the previous year, the company posted $0.66 earnings per share. Aaron’s’s quarterly revenue was down 7.7% on a year-over-year basis. Research analysts predict that Aaron’s will post 0.08 earnings per share for the current year.

Institutional Investors Weigh In On Aaron’s

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AAN. Charles Schwab Investment Management Inc. raised its position in shares of Aaron’s by 10.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,005,375 shares of the company’s stock worth $10,938,000 after acquiring an additional 93,207 shares in the last quarter. LSV Asset Management lifted its position in Aaron’s by 4.3% during the 4th quarter. LSV Asset Management now owns 1,000,532 shares of the company’s stock worth $10,886,000 after acquiring an additional 41,600 shares during the period. American Century Companies Inc. grew its stake in Aaron’s by 18.4% during the 3rd quarter. American Century Companies Inc. now owns 494,868 shares of the company’s stock valued at $5,181,000 after purchasing an additional 76,905 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Aaron’s by 15.8% in the fourth quarter. New York State Common Retirement Fund now owns 407,498 shares of the company’s stock worth $4,434,000 after purchasing an additional 55,740 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in Aaron’s by 16.0% in the third quarter. Acadian Asset Management LLC now owns 406,661 shares of the company’s stock valued at $4,255,000 after buying an additional 56,094 shares during the last quarter. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Aaron’s Company Profile

Headquartered in Atlanta, The Aaron’s Company, Inc (NYSE: AAN) is a leading, technology-enabled, omnichannel provider of lease-purchase solutions. Aaron’s engages in direct-to-consumer sales and lease ownership of furniture, appliances, consumer electronics and accessories through its approximately 1,300 company-operated and franchised stores in 47 states and Canada, as well as its e-commerce platform, Aarons.com.