Aaron’s (NYSE:PRG) Given New $38.00 Price Target at TD Cowen

Aaron’s (NYSE:PRG) had its price objective trimmed by TD Cowen from $41.00 to $38.00 in a report published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Aaron’s in a research report on Wednesday, October 8th. B. Riley initiated coverage on shares of Aaron’s in a report on Tuesday, December 16th. They issued a “buy” rating and a $50.00 price objective for the company. Wall Street Zen upgraded shares of Aaron’s from a “hold” rating to a “buy” rating in a research report on Sunday, December 28th. Finally, BTIG Research upgraded shares of Aaron’s from a “sell” rating to a “neutral” rating and set a $31.00 price target on the stock in a research report on Friday, November 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Aaron’s currently has an average rating of “Moderate Buy” and an average price target of $38.83.

Aaron’s Trading Up 2.6%

Shares of NYSE:PRG opened at $30.77 on Thursday. The company has a quick ratio of 2.65, a current ratio of 4.74 and a debt-to-equity ratio of 0.85. The company’s 50-day moving average price is $29.20 and its 200 day moving average price is $31.16. The company has a market cap of $1.22 billion, a PE ratio of 7.81 and a beta of 1.75. Aaron’s has a fifty-two week low of $23.50 and a fifty-two week high of $44.42.

Aaron’s (NYSE:PRG) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.73 by $0.17. The company had revenue of $595.11 million for the quarter, compared to analyst estimates of $586.11 million. Aaron’s had a net margin of 6.54% and a return on equity of 22.36%. Aaron’s’s revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.77 earnings per share. Aaron’s has set its FY 2025 guidance at 3.350-3.450 EPS and its Q4 2025 guidance at 0.550-0.650 EPS. Sell-side analysts anticipate that Aaron’s will post 3.45 earnings per share for the current year.

Aaron’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 2nd. Investors of record on Tuesday, November 18th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $0.52 annualized dividend and a yield of 1.7%. Aaron’s’s dividend payout ratio is currently 13.20%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd increased its position in Aaron’s by 503.6% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 109,597 shares of the company’s stock worth $3,217,000 after purchasing an additional 91,439 shares during the last quarter. Strs Ohio acquired a new position in Aaron’s in the first quarter worth approximately $577,000. Assenagon Asset Management S.A. bought a new position in Aaron’s during the second quarter valued at approximately $6,191,000. Public Employees Retirement System of Ohio lifted its stake in Aaron’s by 33.6% in the second quarter. Public Employees Retirement System of Ohio now owns 42,578 shares of the company’s stock valued at $1,250,000 after acquiring an additional 10,700 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its stake in Aaron’s by 2.3% in the second quarter. Yousif Capital Management LLC now owns 17,674 shares of the company’s stock valued at $519,000 after acquiring an additional 390 shares during the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

Aaron’s Company Profile

PROG Holdings, Inc (NYSE: PRG), formerly known as Aaron’s, is a North American provider of lease-to-own and consumer finance solutions. The company operates through two primary segments: Aaron’s Business Solutions and Progressive Financial Services. Through Aaron’s Business Solutions, PROG offers customers access to furniture, electronics, home appliances and technology products via lease ownership arrangements, serving both individual consumers and small businesses.

The Progressive Financial Services segment provides lease-purchase and retail point-of-sale financing programs to customers with limited credit histories.