Engineers Gate Manager LP purchased a new stake in Aaron’s, Inc. (NYSE:AAN) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 77,121 shares of the company’s stock, valued at approximately $3,594,000.
A number of other institutional investors have also recently bought and sold shares of the business. Stephens Investment Management Group LLC raised its holdings in Aaron’s by 11.8% in the 1st quarter. Stephens Investment Management Group LLC now owns 1,202,051 shares of the company’s stock valued at $56,016,000 after acquiring an additional 127,029 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Aaron’s in the 1st quarter valued at approximately $289,000. Opus Capital Group LLC acquired a new position in Aaron’s in the 1st quarter valued at approximately $1,676,000. Zeke Capital Advisors LLC acquired a new position in Aaron’s in the 1st quarter valued at approximately $205,000. Finally, Comerica Bank raised its holdings in Aaron’s by 56.9% in the 1st quarter. Comerica Bank now owns 177,387 shares of the company’s stock valued at $8,257,000 after acquiring an additional 64,313 shares in the last quarter.
AAN has been the subject of several recent research reports. Loop Capital cut Aaron’s from a “buy” rating to a “hold” rating and set a $42.00 price target for the company. in a report on Wednesday, January 24th. ValuEngine upgraded Aaron’s from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Piper Jaffray upped their price objective on Aaron’s from $42.00 to $45.00 and gave the company a “hold” rating in a research note on Thursday, February 15th. KeyCorp upped their price objective on Aaron’s from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Finally, SunTrust Banks reiterated a “buy” rating on shares of Aaron’s in a research note on Friday, February 16th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Aaron’s has an average rating of “Buy” and a consensus price target of $46.36.
In related news, CFO Steven A. Michaels sold 10,000 shares of the stock in a transaction that occurred on Monday, April 30th. The stock was sold at an average price of $42.56, for a total transaction of $425,600.00. Following the sale, the chief financial officer now directly owns 66,835 shares in the company, valued at approximately $2,844,497.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert P. Sinclair, Jr. sold 1,000 shares of the stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $48.00, for a total value of $48,000.00. Following the sale, the insider now owns 13,163 shares in the company, valued at $631,824. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,147 shares of company stock worth $3,706,833. 2.28% of the stock is owned by corporate insiders.
AAN stock opened at $40.49 on Monday. Aaron’s, Inc. has a 1-year low of $34.03 and a 1-year high of $49.77. The company has a market capitalization of $2.85 billion, a PE ratio of 15.76 and a beta of 0.07. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 2.74.
Aaron’s (NYSE:AAN) last released its quarterly earnings data on Thursday, April 26th. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.14). The company had revenue of $954.81 million during the quarter, compared to the consensus estimate of $926.74 million. Aaron’s had a net margin of 8.34% and a return on equity of 11.22%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.80 earnings per share. analysts forecast that Aaron’s, Inc. will post 3.35 earnings per share for the current year.
Aaron’s announced that its board has approved a share buyback program on Thursday, February 15th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Aaron's, Inc operates as an omnichannel provider of lease-purchase solutions. It operates through three segments: Progressive Leasing, Aaron's Business, and DAMI. The company engages in the sale, lease ownership, and specialty retailing of furniture, consumer electronics, home appliances, and accessories.
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