Comerica Bank lifted its stake in Aaron’s, Inc. (NYSE:AAN) by 93.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 231,894 shares of the company’s stock after acquiring an additional 111,954 shares during the quarter. Comerica Bank owned approximately 0.33% of Aaron’s, worth $8,596,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in AAN. Wellington Management Group LLP acquired a new stake in shares of Aaron’s, in the first quarter valued at about $688,000. Bank of America Corp DE grew its holdings in Aaron’s, by 55.1% during the first quarter. Bank of America Corp DE now owns 178,642 shares of the company’s stock worth $5,313,000 after purchasing an additional 63,483 shares during the period. Capstone Asset Management Co. grew its holdings in Aaron’s, by 3.8% during the second quarter. Capstone Asset Management Co. now owns 11,094 shares of the company’s stock worth $432,000 after purchasing an additional 410 shares during the period. Bank of Montreal Can grew its holdings in Aaron’s, by 2,253.5% during the second quarter. Bank of Montreal Can now owns 99,296 shares of the company’s stock worth $3,862,000 after purchasing an additional 95,077 shares during the period. Finally, Eqis Capital Management Inc. grew its holdings in Aaron’s, by 17.4% during the second quarter. Eqis Capital Management Inc. now owns 8,959 shares of the company’s stock worth $349,000 after purchasing an additional 1,325 shares during the period.
AAN has been the subject of a number of research analyst reports. Off Wall Street initiated coverage on Aaron’s, in a report on Monday, September 18th. They set a “sell” rating for the company. Jefferies Group LLC reiterated a “buy” rating and set a $54.00 price target on shares of Aaron’s, in a report on Thursday, September 7th. KeyCorp upgraded Aaron’s, from a “sector weight” rating to an “overweight” rating and set a $50.00 price target for the company in a report on Thursday, September 28th. SunTrust Banks, Inc. reiterated a “buy” rating on shares of Aaron’s, in a report on Monday, July 31st. Finally, Zacks Investment Research cut Aaron’s, from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Aaron’s, currently has a consensus rating of “Buy” and a consensus target price of $43.06.
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In related news, insider Curtis Linn Doman sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $43.35, for a total value of $1,300,500.00. Following the completion of the sale, the insider now directly owns 101,775 shares in the company, valued at $4,411,946.25. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO John W. Robinson sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $36.24, for a total value of $543,600.00. Following the completion of the sale, the chief executive officer now owns 337,340 shares of the company’s stock, valued at $12,225,201.60. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 2,913,000 shares of company stock valued at $118,730 and sold 60,779 shares valued at $2,511,865. Insiders own 1.93% of the company’s stock.
Shares of Aaron’s, Inc. (AAN) opened at $36.46 on Friday. The company has a current ratio of 2.35, a quick ratio of 0.74 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $2,579.95, a P/E ratio of 15.13 and a beta of 0.23. Aaron’s, Inc. has a 1-year low of $26.12 and a 1-year high of $48.22.
Aaron’s, (NYSE:AAN) last issued its quarterly earnings results on Friday, October 27th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.11). The company had revenue of $838.80 million during the quarter, compared to the consensus estimate of $827.20 million. Aaron’s, had a net margin of 4.15% and a return on equity of 11.41%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 earnings per share. equities research analysts expect that Aaron’s, Inc. will post 2.47 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Wednesday, December 13th will be paid a $0.03 dividend. This is a boost from Aaron’s, ‘s previous quarterly dividend of $0.03. This represents a $0.12 annualized dividend and a dividend yield of 0.33%. The ex-dividend date is Tuesday, December 12th. Aaron’s, ‘s payout ratio is 5.79%.
Aaron’s, Company Profile
Aaron’s, Inc (Aaron’s) is an omnichannel provider of lease-purchase solutions. The Company engages in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories through its Company-operated and franchised stores in Canada, as well as its e-commerce platform, Aarons.com.
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