Aaron’s, Inc. (AAN) Receives Buy Rating from Jefferies Group LLC
Aaron’s, Inc. (NYSE:AAN)‘s stock had its “buy” rating restated by investment analysts at Jefferies Group LLC in a research note issued to investors on Thursday. They presently have a $54.00 target price on the stock. Jefferies Group LLC’s price target would indicate a potential upside of 21.98% from the stock’s previous close.
AAN has been the subject of a number of other research reports. BidaskClub cut shares of Aaron’s, from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $55.00 price target (up previously from $40.00) on shares of Aaron’s, in a research note on Sunday, July 30th. SunTrust Banks, Inc. reissued a “buy” rating on shares of Aaron’s, in a research report on Monday, July 31st. Finally, Northcoast Research reissued a “buy” rating and issued a $52.50 price objective (up from $45.00) on shares of Aaron’s, in a research report on Monday, July 31st. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $44.21.
Shares of Aaron’s, (NYSE AAN) traded down 0.05% during midday trading on Thursday, hitting $44.27. 824,766 shares of the company’s stock were exchanged. The company has a 50-day moving average of $42.53 and a 200-day moving average of $35.46. Aaron’s, has a 52 week low of $22.37 and a 52 week high of $48.22. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of 22.75 and a beta of 0.17.
Aaron’s, (NYSE:AAN) last announced its quarterly earnings results on Friday, July 28th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. The firm had revenue of $815.60 million during the quarter, compared to analysts’ expectations of $786.12 million. Aaron’s, had a net margin of 4.36% and a return on equity of 12.00%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.59 earnings per share. Equities research analysts expect that Aaron’s, will post $2.56 EPS for the current fiscal year.
In related news, insider Robert P. Sinclair, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the transaction, the insider now directly owns 11,469 shares of the company’s stock, valued at $516,105. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John W. Robinson sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $46.11, for a total transaction of $691,650.00. Following the transaction, the chief executive officer now directly owns 348,440 shares in the company, valued at $16,066,568.40. The disclosure for this sale can be found here. Insiders sold 61,776 shares of company stock worth $2,742,507 over the last three months. Insiders own 1.93% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in AAN. Sterling Capital Management LLC acquired a new position in Aaron’s, during the second quarter worth approximately $1,293,000. Cubist Systematic Strategies LLC acquired a new position in Aaron’s, during the second quarter worth approximately $211,000. State Street Corp raised its position in Aaron’s, by 6.8% in the second quarter. State Street Corp now owns 2,235,516 shares of the company’s stock worth $86,967,000 after buying an additional 142,599 shares in the last quarter. Intrinsic Edge Capital Management LLC acquired a new position in Aaron’s, during the second quarter worth approximately $3,793,000. Finally, Royal Bank of Canada raised its position in Aaron’s, by 48.3% in the second quarter. Royal Bank of Canada now owns 17,863 shares of the company’s stock worth $695,000 after buying an additional 5,816 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.
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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