Aaron’s, Inc. (AAN) Shares Gap Down to $38.41

Aaron’s, Inc. (NYSE:AAN) shares gapped down before the market opened on Tuesday . The stock had previously closed at $35.12, but opened at $38.41. Aaron’s, shares last traded at $39.21, with a volume of 757,753 shares traded.

AAN has been the subject of several recent analyst reports. Off Wall Street initiated coverage on shares of Aaron’s, in a research note on Monday. They set a “sell” rating for the company. BidaskClub lowered shares of Aaron’s, from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 7th. Jefferies Group LLC reiterated a “buy” rating and set a $54.00 price objective on shares of Aaron’s, in a research note on Thursday, August 31st. SunTrust Banks, Inc. reiterated a “buy” rating on shares of Aaron’s, in a research note on Monday, July 31st. Finally, Northcoast Research reiterated a “buy” rating and set a $52.50 price objective (up previously from $45.00) on shares of Aaron’s, in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $44.21.

The firm has a 50 day moving average of $44.05 and a 200-day moving average of $37.12. The company has a market cap of $2.78 billion, a P/E ratio of 20.218 and a beta of 0.18.

Aaron’s, (NYSE:AAN) last released its quarterly earnings data on Friday, July 28th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.10. Aaron’s, had a net margin of 4.36% and a return on equity of 12.00%. The company had revenue of $815.60 million for the quarter, compared to analysts’ expectations of $786.12 million. During the same quarter last year, the company earned $0.59 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts expect that Aaron’s, Inc. will post $2.56 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.027 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.11 dividend on an annualized basis and a yield of 0.28%. Aaron’s, ‘s payout ratio is currently 5.64%.

In other news, insider Robert P. Sinclair, Jr. sold 4,000 shares of Aaron’s, stock in a transaction on Monday, August 21st. The shares were sold at an average price of $43.47, for a total value of $173,880.00. Following the transaction, the insider now directly owns 12,469 shares of the company’s stock, valued at approximately $542,027.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Curtis Linn Doman sold 30,000 shares of Aaron’s, stock in a transaction on Friday, August 25th. The shares were sold at an average price of $43.35, for a total transaction of $1,300,500.00. Following the completion of the transaction, the insider now directly owns 101,775 shares in the company, valued at $4,411,946.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,776 shares of company stock worth $2,742,507. 1.93% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP acquired a new position in shares of Aaron’s, in the 1st quarter valued at $688,000. Great West Life Assurance Co. Can increased its holdings in shares of Aaron’s, by 0.8% in the 2nd quarter. Great West Life Assurance Co. Can now owns 38,370 shares of the company’s stock valued at $1,492,000 after acquiring an additional 307 shares during the period. United Services Automobile Association acquired a new position in shares of Aaron’s, in the 1st quarter valued at $493,000. Vanguard Group Inc. increased its holdings in shares of Aaron’s, by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 6,298,343 shares of the company’s stock valued at $187,313,000 after acquiring an additional 361,856 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Aaron’s, by 9.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 515,987 shares of the company’s stock valued at $15,346,000 after acquiring an additional 42,829 shares during the period. 99.83% of the stock is currently owned by institutional investors and hedge funds.

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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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