Aaron’s, Inc. (NYSE:AAN) was the recipient of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 3,670,000 shares, a decline of 8.3% from the December 15th total of 4,000,000 shares. Currently, 5.5% of the shares of the company are sold short. Based on an average trading volume of 862,400 shares, the short-interest ratio is presently 4.3 days.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Penserra Capital Management LLC boosted its holdings in Aaron’s by 25.0% during the third quarter. Penserra Capital Management LLC now owns 920 shares of the company’s stock valued at $59,000 after purchasing an additional 184 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Aaron’s by 293.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,035 shares of the company’s stock worth $64,000 after acquiring an additional 772 shares in the last quarter. Quest Capital Management Inc. ADV acquired a new position in shares of Aaron’s in the 3rd quarter worth approximately $94,000. Eqis Capital Management Inc. acquired a new position in shares of Aaron’s in the 3rd quarter worth approximately $208,000. Finally, BBVA USA Bancshares Inc. acquired a new position in shares of Aaron’s in the 3rd quarter worth approximately $281,000. 97.82% of the stock is currently owned by institutional investors.
NYSE AAN traded down $0.16 during trading on Tuesday, reaching $58.12. 2,298 shares of the company traded hands, compared to its average volume of 534,641. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.70 and a current ratio of 2.74. The stock’s 50 day moving average price is $58.11 and its two-hundred day moving average price is $62.64. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 17.30, a P/E/G ratio of 0.71 and a beta of 0.37. Aaron’s has a 1-year low of $45.70 and a 1-year high of $78.65.
Aaron’s (NYSE:AAN) last released its quarterly earnings data on Monday, November 4th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.09). The company had revenue of $963.80 million for the quarter, compared to analyst estimates of $975.20 million. Aaron’s had a net margin of 5.09% and a return on equity of 14.21%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 earnings per share. Equities research analysts expect that Aaron’s will post 3.81 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Thursday, December 19th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.28%. This is an increase from Aaron’s’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Wednesday, December 18th. Aaron’s’s payout ratio is presently 4.76%.
Several equities analysts recently issued reports on AAN shares. Raymond James boosted their price target on Aaron’s from $72.00 to $80.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 16th. KeyCorp set a $88.00 price target on Aaron’s and gave the company a “buy” rating in a research note on Friday, October 11th. Loop Capital restated a “buy” rating and set a $90.00 price target on shares of Aaron’s in a research note on Wednesday, January 8th. Zacks Investment Research upgraded Aaron’s from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Monday, October 14th. Finally, Stephens restated a “buy” rating and set a $80.00 price target on shares of Aaron’s in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $77.75.
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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