Comerica Bank trimmed its position in Aaron’s, Inc. (NYSE:AAN) by 6.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 274,806 shares of the company’s stock after selling 17,532 shares during the quarter. Comerica Bank’s holdings in Aaron’s were worth $13,468,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vident Investment Advisory LLC grew its holdings in Aaron’s by 1.5% in the 2nd quarter. Vident Investment Advisory LLC now owns 75,402 shares of the company’s stock valued at $3,276,000 after buying an additional 1,131 shares in the last quarter. US Bancorp DE grew its holdings in Aaron’s by 4.6% in the 2nd quarter. US Bancorp DE now owns 26,278 shares of the company’s stock valued at $1,141,000 after buying an additional 1,153 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Aaron’s by 13.5% during the 2nd quarter. Amalgamated Bank now owns 10,222 shares of the company’s stock worth $444,000 after purchasing an additional 1,218 shares in the last quarter. LPL Financial LLC grew its holdings in shares of Aaron’s by 8.1% during the 1st quarter. LPL Financial LLC now owns 16,479 shares of the company’s stock worth $768,000 after purchasing an additional 1,238 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Aaron’s by 3.0% during the 2nd quarter. Arizona State Retirement System now owns 42,978 shares of the company’s stock worth $1,867,000 after purchasing an additional 1,257 shares in the last quarter.
AAN has been the topic of several analyst reports. ValuEngine raised Aaron’s from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Northcoast Research reissued a “buy” rating on shares of Aaron’s in a report on Tuesday, July 24th. Stifel Nicolaus increased their target price on Aaron’s from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, July 27th. Zacks Investment Research raised Aaron’s from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Tuesday, July 31st. Finally, Raymond James reissued a “buy” rating and set a $57.00 target price on shares of Aaron’s in a report on Sunday, August 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $56.10.
AAN opened at $50.49 on Wednesday. The firm has a market cap of $3.36 billion, a PE ratio of 16.36 and a beta of 0.25. Aaron’s, Inc. has a 52-week low of $34.29 and a 52-week high of $56.00. The company has a current ratio of 2.43, a quick ratio of 0.55 and a debt-to-equity ratio of 0.17.
Aaron’s (NYSE:AAN) last released its earnings results on Thursday, October 25th. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.06). The company had revenue of $953.07 million for the quarter, compared to analyst estimates of $948.48 million. Aaron’s had a return on equity of 12.22% and a net margin of 8.39%. Equities analysts forecast that Aaron’s, Inc. will post 3.38 earnings per share for the current year.
In related news, CEO Ryan K. Woodley sold 12,500 shares of the firm’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $45.20, for a total value of $565,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Curtis Linn Doman sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $50.00, for a total value of $1,750,000.00. Following the completion of the sale, the insider now directly owns 67,523 shares in the company, valued at $3,376,150. The disclosure for this sale can be found here. Insiders sold 57,904 shares of company stock worth $2,829,618 over the last ninety days. 2.28% of the stock is currently owned by insiders.
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Aaron’s Company Profile
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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