Analysts Set Aaron’s Holdings Company, Inc. (NYSE:PRG) PT at $41.00

Shares of Aaron’s Holdings Company, Inc. (NYSE:PRG) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $41.00.

A number of research firms have issued reports on PRG. BTIG Research downgraded Aaron’s from a “neutral” rating to a “sell” rating and set a $24.00 price objective on the stock. in a research note on Monday, July 14th. Wall Street Zen downgraded Aaron’s from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Loop Capital cut their target price on Aaron’s from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, KeyCorp cut their target price on Aaron’s from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th.

Insider Activity at Aaron’s

In related news, CFO Brian Garner bought 3,500 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were purchased at an average price of $28.93 per share, with a total value of $101,255.00. Following the transaction, the chief financial officer owned 132,597 shares in the company, valued at $3,836,031.21. This trade represents a 2.71% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven A. Michaels bought 14,000 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were bought at an average cost of $29.03 per share, for a total transaction of $406,420.00. Following the transaction, the chief executive officer owned 559,641 shares in the company, valued at approximately $16,246,378.23. The trade was a 2.57% increase in their position. The disclosure for this purchase can be found here. Insiders own 3.21% of the company’s stock.

Hedge Funds Weigh In On Aaron’s

Large investors have recently bought and sold shares of the business. Ameritas Advisory Services LLC purchased a new position in Aaron’s during the 2nd quarter valued at $27,000. Caitong International Asset Management Co. Ltd boosted its holdings in Aaron’s by 785.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,045 shares of the company’s stock valued at $28,000 after acquiring an additional 927 shares during the period. GAMMA Investing LLC boosted its holdings in Aaron’s by 66.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,122 shares of the company’s stock valued at $33,000 after acquiring an additional 447 shares during the period. Whittier Trust Co. boosted its holdings in Aaron’s by 157.6% during the 2nd quarter. Whittier Trust Co. now owns 1,391 shares of the company’s stock valued at $41,000 after acquiring an additional 851 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in Aaron’s by 765.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,082 shares of the company’s stock valued at $46,000 after acquiring an additional 957 shares during the period. Hedge funds and other institutional investors own 97.92% of the company’s stock.

Aaron’s Stock Performance

NYSE:PRG opened at $31.34 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.71 and a quick ratio of 2.82. Aaron’s has a 1 year low of $23.50 and a 1 year high of $50.28. The stock’s 50 day simple moving average is $29.93 and its two-hundred day simple moving average is $30.34. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 6.19 and a beta of 1.75.

Aaron’s (NYSE:PRG) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.23. Aaron’s had a return on equity of 22.54% and a net margin of 8.53%. The business had revenue of $604.66 million for the quarter, compared to the consensus estimate of $586.25 million. During the same quarter in the previous year, the company posted $0.92 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that Aaron’s will post 3.45 earnings per share for the current fiscal year.

Aaron’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Tuesday, August 19th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $0.52 annualized dividend and a dividend yield of 1.7%. Aaron’s’s payout ratio is currently 10.28%.

About Aaron’s

PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.