Insider Buying: Aaron's Director Purchases 1,000 Shares of Stock (AAN)
Aaron's (NYSE:AAN) Director Hubert L. Jr. Harris bought 1,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 15th. The stock was purchased at an average cost of $25.00 per share, for a total transaction of $25,000.00. Following the transaction, the director now directly owns 4,940 shares of the company’s stock, valued at approximately $123,500. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Aaron's (NYSE:AAN) traded up 3.16% on Monday, hitting $25.79. The stock had a trading volume of 738,677 shares. Aaron's has a 1-year low of $26.18 and a 1-year high of $33.85. The stock’s 50-day moving average is $31.04 and its 200-day moving average is $29.. The company has a market cap of $1.865 billion and a price-to-earnings ratio of 20.53.
Aaron's (NYSE:AAN) last issued its quarterly earnings data on Friday, July 25th. The company reported $0.12 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.35 by $0.23. The company had revenue of $672.50 million for the quarter, compared to the consensus estimate of $672.91 million. During the same quarter last year, the company posted $0.50 earnings per share. Aaron's’s revenue was up 22.2% compared to the same quarter last year. Analysts expect that Aaron's will post $1.68 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 1st. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.021 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.34%. The ex-dividend date is Friday, August 29th.
Several analysts have recently commented on the stock. Analysts at Stifel Nicolaus cut their price target on shares of Aaron's from $42.00 to $35.00 in a research note on Monday, July 28th. They now have a “buy” rating on the stock. Separately, analysts at Zacks downgraded shares of Aaron's from a “neutral” rating to an “underperform” rating in a research note on Friday, July 18th. They now have a $28.10 price target on the stock. Finally, analysts at Goldman Sachs reiterated a “buy” rating on shares of Aaron's in a research note on Wednesday, July 16th. They now have a $42.00 price target on the stock, down previously from $45.00. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Aaron's has an average rating of “Hold” and an average price target of $33.52.
Aaron’s, Inc (NYSE:AAN) is a specialty retailer of consumer electronics, computers, residential furniture, household appliances and accessories.
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