Comerica Bank grew its stake in shares of Aaron’s, Inc. (NYSE:AAN) by 93.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 231,894 shares of the company’s stock after buying an additional 111,954 shares during the period. Comerica Bank owned 0.33% of Aaron’s worth $8,596,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of AAN. DekaBank Deutsche Girozentrale lifted its holdings in Aaron’s by 57.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 20,694 shares of the company’s stock worth $931,000 after purchasing an additional 7,574 shares in the last quarter. Dividend Assets Capital LLC purchased a new position in Aaron’s in the 3rd quarter worth approximately $9,359,000. Summit Financial Wealth Advisors LLC purchased a new position in Aaron’s in the 3rd quarter worth approximately $2,898,000. Retirement Systems of Alabama lifted its holdings in Aaron’s by 6.0% in the 3rd quarter. Retirement Systems of Alabama now owns 205,011 shares of the company’s stock worth $8,945,000 after purchasing an additional 11,636 shares in the last quarter. Finally, USA Financial Portformulas Corp purchased a new position in Aaron’s in the 3rd quarter worth approximately $482,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Aaron’s, Inc. (AAN) traded down $1.54 during trading on Monday, reaching $37.65. The company’s stock had a trading volume of 1,107,716 shares, compared to its average volume of 836,083. The company has a market cap of $2,773.12, a P/E ratio of 16.26 and a beta of 0.23. The company has a quick ratio of 0.74, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. Aaron’s, Inc. has a 12 month low of $26.12 and a 12 month high of $48.22.
Aaron’s (NYSE:AAN) last announced its quarterly earnings data on Friday, October 27th. The company reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.11). The business 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 business’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company earned $0.50 EPS. equities analysts anticipate that Aaron’s, Inc. will post 2.47 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Wednesday, December 13th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.32%. This is a boost from Aaron’s’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 12th. Aaron’s’s dividend payout ratio is currently 5.79%.
A number of analysts have issued reports on AAN shares. Northcoast Research set a $53.00 price objective on Aaron’s and gave the stock a “buy” rating in a research note on Friday. Sidoti raised Aaron’s from a “neutral” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Wednesday, November 29th. Jefferies Group reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Aaron’s in a research note on Thursday, September 7th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Aaron’s in a research note on Friday, September 1st. Finally, Loop Capital raised Aaron’s from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $43.30.
In other Aaron’s news, CFO Steven A. Michaels sold 4,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $37.15, for a total value of $148,600.00. Following the completion of the sale, the chief financial officer now directly owns 56,769 shares in the company, valued at approximately $2,108,968.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John W. Robinson sold 15,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was 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 acquired 1,813,000 shares of company stock valued at $80,530 and sold 19,003 shares valued at $692,308. 1.93% of the stock is currently owned by corporate insiders.
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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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