Aaron's (NYSE:PRG) Downgraded to Sell Rating by BTIG Research

BTIG Research downgraded shares of Aaron's (NYSE:PRG - Free Report) from a neutral rating to a sell rating in a report released on Monday, Marketbeat Ratings reports. BTIG Research currently has $24.00 target price on the stock.

A number of other research firms have also recently commented on PRG. KeyCorp decreased their target price on shares of Aaron's from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Loop Capital lowered their price objective on shares of Aaron's from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Aaron's currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.86.

Aaron's Trading Down 1.4%

Aaron's stock traded down $0.42 during trading on Monday, reaching $28.72. 121,717 shares of the company were exchanged, compared to its average volume of 475,630. Aaron's has a 52-week low of $23.50 and a 52-week high of $50.28. The company has a market capitalization of $1.16 billion, a P/E ratio of 5.88 and a beta of 1.76. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.98 and a quick ratio of 2.35. The stock's 50 day simple moving average is $29.13 and its two-hundred day simple moving average is $31.69.

Aaron's (NYSE:PRG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.08. Aaron's had a return on equity of 23.11% and a net margin of 8.38%. The firm had revenue of $684.09 million for the quarter, compared to the consensus estimate of $678.23 million. During the same quarter last year, the business posted $0.91 earnings per share. The firm's revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts expect that Aaron's will post 3.45 earnings per share for the current fiscal year.

Aaron's Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.52 annualized dividend and a yield of 1.81%. Aaron's's dividend payout ratio (DPR) is 10.66%.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PRG. Summit Securities Group LLC purchased a new stake in shares of Aaron's in the 4th quarter valued at about $38,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Aaron's by 785.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,045 shares of the company's stock valued at $28,000 after purchasing an additional 927 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Aaron's by 765.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,082 shares of the company's stock valued at $46,000 after purchasing an additional 957 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Aaron's by 66.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,122 shares of the company's stock valued at $33,000 after purchasing an additional 447 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of Aaron's by 248.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,370 shares of the company's stock valued at $57,000 after purchasing an additional 977 shares during the last quarter. 97.92% of the stock is owned by institutional investors and hedge funds.

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.