The Aaron’s Company, Inc. (NYSE:AAN – Get Rating) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 2,350,000 shares, a growth of 18.7% from the June 30th total of 1,980,000 shares. Approximately 7.9% of the company’s shares are short sold. Based on an average daily volume of 308,600 shares, the days-to-cover ratio is currently 7.6 days.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on AAN shares. StockNews.com cut Aaron’s from a “buy” rating to a “hold” rating in a report on Wednesday, July 27th. Stephens reduced their target price on Aaron’s to $14.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Finally, Truist Financial reduced their target price on Aaron’s to $13.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its position in Aaron’s by 1.7% in the second quarter. Envestnet Asset Management Inc. now owns 184,406 shares of the company’s stock valued at $2,683,000 after purchasing an additional 3,052 shares during the period. Aigen Investment Management LP purchased a new stake in shares of Aaron’s during the second quarter worth about $263,000. First Horizon Advisors Inc. increased its position in shares of Aaron’s by 1,232.0% during the second quarter. First Horizon Advisors Inc. now owns 3,743 shares of the company’s stock worth $54,000 after acquiring an additional 3,462 shares during the last quarter. Waters Parkerson & CO. LLC increased its position in shares of Aaron’s by 14.9% during the second quarter. Waters Parkerson & CO. LLC now owns 15,940 shares of the company’s stock worth $232,000 after acquiring an additional 2,070 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Aaron’s by 6.1% during the second quarter. Victory Capital Management Inc. now owns 354,731 shares of the company’s stock worth $5,161,000 after acquiring an additional 20,537 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.
Aaron’s Price Performance
Aaron’s (NYSE:AAN – Get Rating) last released its quarterly earnings data on Monday, July 25th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.66 by $0.13. Aaron’s had a return on equity of 13.73% and a net margin of 2.89%. The company had revenue of $610.38 million for the quarter, compared to analyst estimates of $604.65 million. During the same period last year, the company posted $1.05 earnings per share. The firm’s revenue was up 30.6% compared to the same quarter last year. As a group, research analysts anticipate that Aaron’s will post 1.86 earnings per share for the current year.
Aaron’s Company Profile
Headquartered in Atlanta, The Aaron’s Company, Inc (NYSE: AAN) is a leading, technology-enabled, omnichannel provider of lease-purchase solutions. Aaron’s engages in direct-to-consumer sales and lease ownership of furniture, appliances, consumer electronics and accessories through its approximately 1,300 company-operated and franchised stores in 47 states and Canada, as well as its e-commerce platform, Aarons.com.
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