Zacks Investment Research upgraded shares of Aaron’s (NYSE:AAN) from a hold rating to a buy rating in a report issued on Wednesday. They currently have $45.00 target price on the stock.
According to Zacks, “Aaron’s, Inc. is engaged in the sales and lease ownership and specialty retailing of residential and office furniture, consumer electronics, home appliances and accessories. It is engaged in the lease ownership, lease and retail sale of a variety of products, such as widescreen and LCD televisions, computers, living room and bedroom furniture, and refrigerators The company offers products of various brands, such as JVC, Mitsubishi, Philips, Panasonic, Sony, Dell, Hewlett-Packard, Simmons, Frigidaire, and Sharp. Aaron’s, Inc. is based in Atlanta, Georgia. “
Several other research firms also recently commented on AAN. Off Wall Street initiated coverage on Aaron’s in a report on Monday, September 18th. They issued a sell rating for the company. Stephens reiterated a buy rating and issued a $61.00 price objective on shares of Aaron’s in a report on Wednesday, January 3rd. Raymond James Financial upgraded Aaron’s from a market perform rating to a strong-buy rating and set a $14.00 price objective for the company in a report on Friday, November 10th. Janney Montgomery Scott initiated coverage on Aaron’s in a report on Wednesday, October 18th. They issued a neutral rating and a $42.00 price objective for the company. Finally, Jefferies Group reiterated a buy rating and issued a $54.00 price objective on shares of Aaron’s in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $45.27.
Aaron’s (AAN) traded up $0.01 on Wednesday, hitting $41.13. The stock had a trading volume of 404,614 shares, compared to its average volume of 758,417. The company has a current ratio of 2.35, a quick ratio of 0.74 and a debt-to-equity ratio of 0.24. The stock has a market cap of $2,909.69, a price-to-earnings ratio of 21.65 and a beta of 0.22. Aaron’s has a 12-month low of $26.12 and a 12-month high of $48.22.
Aaron’s (NYSE:AAN) last posted its quarterly earnings results on Friday, October 27th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.11). Aaron’s had a return on equity of 11.41% and a net margin of 4.15%. The company had revenue of $838.80 million during the quarter, compared to analysts’ expectations of $827.20 million. During the same period in the prior year, the firm earned $0.50 EPS. Aaron’s’s revenue for the quarter was up 9.1% compared to the same quarter last year. equities analysts anticipate that Aaron’s will post 2.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Wednesday, December 13th were paid a dividend of $0.03 per share. This is an increase from Aaron’s’s previous quarterly dividend of $0.03. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Tuesday, December 12th. Aaron’s’s payout ratio is currently 6.32%.
In other Aaron’s news, CFO Steven A. Michaels sold 4,000 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $37.15, for a total transaction of $148,600.00. Following the completion of the sale, the chief financial officer now directly owns 56,769 shares in the company, valued at approximately $2,108,968.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John W. Robinson sold 15,000 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $36.24, for a total value of $543,600.00. Following the sale, the chief executive officer now owns 337,340 shares of the company’s stock, valued at $12,225,201.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,003 shares of company stock valued at $692,308. Corporate insiders own 1.93% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in AAN. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Aaron’s by 13.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,649 shares of the company’s stock valued at $103,000 after purchasing an additional 312 shares during the period. Riverhead Capital Management LLC grew its stake in shares of Aaron’s by 70.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,930 shares of the company’s stock valued at $153,000 after acquiring an additional 1,630 shares during the period. Victory Capital Management Inc. grew its stake in shares of Aaron’s by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,708 shares of the company’s stock valued at $183,000 after acquiring an additional 705 shares during the period. KBC Group NV bought a new position in shares of Aaron’s during the 3rd quarter valued at approximately $192,000. Finally, ARP Americas LLC bought a new position in shares of Aaron’s during the 3rd quarter valued at approximately $209,000.
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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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