Brokerages Set Aaron’s Holdings Company, Inc. (NYSE:PRG) Target Price at $44.83

Aaron’s Holdings Company, Inc. (NYSE:PRGGet Free Report) has been given an average recommendation of “Buy” by the six brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $44.83.

Several analysts have recently weighed in on PRG shares. KeyCorp reduced their price target on Aaron’s from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Jefferies Financial Group cut Aaron’s from a “buy” rating to a “hold” rating and reduced their price target for the stock from $58.00 to $29.00 in a report on Wednesday, February 26th. Finally, Loop Capital reduced their price target on Aaron’s from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, April 24th.

Read Our Latest Stock Report on Aaron’s

Insider Activity at Aaron’s

In other Aaron’s news, CFO Brian Garner purchased 3,500 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were purchased at an average cost of $28.93 per share, for a total transaction of $101,255.00. Following the acquisition, the chief financial officer now owns 132,597 shares of the company’s stock, valued at approximately $3,836,031.21. This represents a 2.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven A. Michaels purchased 14,000 shares of the business’s stock in a transaction on Monday, May 12th. The shares were acquired at an average price of $29.03 per share, for a total transaction of $406,420.00. Following the completion of the acquisition, the chief executive officer now directly owns 559,641 shares in the company, valued at approximately $16,246,378.23. This represents a 2.57% increase in their position. The disclosure for this purchase can be found here. 3.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Aaron’s

Institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Aaron’s by 785.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,045 shares of the company’s stock worth $28,000 after buying an additional 927 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Aaron’s during the 4th quarter worth approximately $38,000. Sterling Capital Management LLC boosted its holdings in shares of Aaron’s by 765.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,082 shares of the company’s stock worth $46,000 after buying an additional 957 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Aaron’s by 141.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company’s stock worth $51,000 after buying an additional 707 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Aaron’s by 248.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,370 shares of the company’s stock worth $57,000 after buying an additional 977 shares in the last quarter. 97.92% of the stock is currently owned by institutional investors.

Aaron’s Stock Down 2.1%

Shares of NYSE PRG opened at $27.87 on Tuesday. The company has a current ratio of 4.98, a quick ratio of 2.35 and a debt-to-equity ratio of 0.91. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 5.71 and a beta of 1.79. Aaron’s has a 12 month low of $23.50 and a 12 month high of $50.28. The stock has a 50-day moving average price of $27.88 and a two-hundred day moving average price of $33.63.

Aaron’s (NYSE:PRGGet Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.82 by $0.08. The firm had revenue of $684.09 million during the quarter, compared to the consensus estimate of $678.23 million. Aaron’s had a return on equity of 23.11% and a net margin of 8.38%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 earnings per share. As a group, analysts forecast that Aaron’s will post 3.45 earnings per share for the current fiscal year.

Aaron’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.87%. The ex-dividend date was Tuesday, May 20th. Aaron’s’s payout ratio is presently 10.66%.

About Aaron’s

(Get Free Report

PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.

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Analyst Recommendations for Aaron's (NYSE:PRG)

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