Aaron’s (AAN) Rating Increased to Buy at Zacks Investment Research
Aaron’s (NYSE:AAN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $45.00 price target on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 9.41% from the company’s previous close.
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 brokerages have also recently weighed in on AAN. Stephens reissued a “buy” rating and issued a $61.00 price target on shares of Aaron’s in a research note on Wednesday, January 3rd. Janney Montgomery Scott began coverage on Aaron’s in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $42.00 price target for the company. Jefferies Group reissued a “buy” rating and issued a $54.00 price target on shares of Aaron’s in a research note on Tuesday, December 26th. Northcoast Research set a $53.00 price target on Aaron’s and gave the company a “buy” rating in a research note on Friday, December 1st. Finally, KeyCorp raised Aaron’s from a “sector weight” rating to an “overweight” rating and set a $50.00 price target for the company in a research note on Thursday, September 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Aaron’s currently has a consensus rating of “Buy” and an average target price of $45.27.
Shares of Aaron’s (AAN) traded up $0.01 on Wednesday, reaching $41.13. The company’s stock had a trading volume of 404,614 shares, compared to its average volume of 758,417. Aaron’s has a fifty-two week low of $26.12 and a fifty-two week high of $48.22. 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 firm has a market cap of $2,909.69, a PE ratio of 21.65 and a beta of 0.22.
Aaron’s (NYSE:AAN) last issued its earnings results on Friday, October 27th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.11). Aaron’s had a return on equity of 11.41% and a net margin of 4.15%. The firm had revenue of $838.80 million during the quarter, compared to analyst estimates of $827.20 million. During the same period in the previous year, the company earned $0.50 EPS. Aaron’s’s revenue for the quarter was up 9.1% on a year-over-year basis. equities analysts forecast that Aaron’s will post 2.46 earnings per share for the current fiscal year.
In related news, CEO John W. Robinson sold 15,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $36.24, for a total transaction of $543,600.00. Following the sale, the chief executive officer now owns 337,340 shares in the company, valued at approximately $12,225,201.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Steven A. Michaels sold 4,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $37.15, for a total value of $148,600.00. Following the sale, the chief financial officer now owns 56,769 shares in the company, valued at approximately $2,108,968.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,003 shares of company stock worth $692,308. 1.93% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in AAN. Legal & General Group Plc boosted its position in shares of Aaron’s by 10.3% during the 2nd quarter. Legal & General Group Plc now owns 80,025 shares of the company’s stock valued at $3,112,000 after purchasing an additional 7,493 shares in the last quarter. Victory Capital Management Inc. boosted its position 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 purchasing an additional 705 shares in the last quarter. Neuberger Berman Group LLC boosted its position in shares of Aaron’s by 60.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 58,279 shares of the company’s stock valued at $2,267,000 after purchasing an additional 22,039 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position 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 in the last quarter. Finally, Keybank National Association OH bought a new stake in shares of Aaron’s during the 2nd quarter valued at about $235,000.
Aaron’s Company Profile
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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