StockNews.com Initiates Coverage on Aaron’s (NYSE:AAN)

Analysts at StockNews.com assumed coverage on shares of Aaron’s (NYSE:AAN) in a report issued on Friday. The brokerage set a “hold” rating on the stock.

Separately, Jefferies Financial Group reiterated a “hold” rating and issued a $10.10 target price (down from $11.00) on shares of Aaron’s in a report on Wednesday, July 10th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.46.

Aaron’s Stock Up 1.0 %

Shares of AAN opened at $10.09 on Friday. Aaron’s has a 52 week low of $6.62 and a 52 week high of $11.90. The company has a market capitalization of $318.06 million, a price-to-earnings ratio of -12.77 and a beta of 1.43. The stock’s 50-day moving average price is $10.06 and its 200-day moving average price is $9.17. The company has a quick ratio of 0.70, a current ratio of 1.02 and a debt-to-equity ratio of 0.33.

Aaron’s (NYSE:AAN) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). The firm had revenue of $503.10 million for the quarter, compared to analyst estimates of $513.91 million. Aaron’s had a negative return on equity of 2.08% and a negative net margin of 2.06%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the company earned $0.39 earnings per share. On average, sell-side analysts predict that Aaron’s will post -0.01 EPS for the current year.

Institutional Investors Weigh In On Aaron’s

Institutional investors and hedge funds have recently made changes to their positions in the business. Gladius Capital Management LP purchased a new stake in shares of Aaron’s during the second quarter worth approximately $41,000. GAMMA Investing LLC raised its position in Aaron’s by 314.4% during the 2nd quarter. GAMMA Investing LLC now owns 5,101 shares of the company’s stock worth $51,000 after buying an additional 3,870 shares during the last quarter. Fortitude Family Office LLC lifted its stake in shares of Aaron’s by 239.5% in the 2nd quarter. Fortitude Family Office LLC now owns 8,385 shares of the company’s stock worth $84,000 after acquiring an additional 5,915 shares during the period. EMC Capital Management boosted its holdings in shares of Aaron’s by 172.8% in the first quarter. EMC Capital Management now owns 12,211 shares of the company’s stock valued at $92,000 after acquiring an additional 7,735 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Aaron’s during the third quarter worth about $109,000. 91.99% of the stock is owned by hedge funds and other institutional investors.

About Aaron’s

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.