Aaron’s Inc. (AAN) Coverage Initiated at Jefferies Group
Equities researchers at Jefferies Group assumed coverage on shares of Aaron’s Inc. (NYSE:AAN) in a research report issued on Thursday, The Fly reports. The brokerage set a “buy” rating on the stock.
AAN has been the topic of several other reports. Zacks Investment Research lowered Aaron’s from a “hold” rating to a “sell” rating in a research report on Wednesday, September 28th. TheStreet raised Aaron’s from a “hold” rating to a “buy” rating in a research report on Thursday, September 1st. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $29.92.
Shares of Aaron’s (NYSE:AAN) opened at 22.68 on Thursday. Aaron’s has a 12-month low of $20.24 and a 12-month high of $38.85. The firm has a market capitalization of $1.65 billion, a P/E ratio of 12.39 and a beta of 0.23. The stock has a 50 day moving average price of $24.89 and a 200 day moving average price of $24.52.
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Aaron’s (NYSE:AAN) last released its quarterly earnings data on Friday, July 29th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $789.40 million for the quarter, compared to analyst estimates of $809.16 million. Aaron’s had a return on equity of 11.01% and a net margin of 4.15%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 EPS. Equities analysts anticipate that Aaron’s will post $2.26 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.10 annualized dividend and a yield of 0.44%. Aaron’s’s dividend payout ratio is presently 5.43%.
In other Aaron’s news, Director Robert H. Yanker acquired 40,000 shares of the company’s stock in a transaction on Friday, August 19th. The shares were bought at an average cost of $25.29 per share, for a total transaction of $1,011,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.12% of the company’s stock.
Large investors have recently bought and sold shares of the company. Northwestern Mutual Investment Management Company LLC increased its stake in Aaron’s by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 11,178 shares of the company’s stock valued at $245,000 after buying an additional 29 shares in the last quarter. Capstone Asset Management Co. increased its stake in shares of Aaron’s by 0.7% in the third quarter. Capstone Asset Management Co. now owns 11,554 shares of the company’s stock worth $294,000 after buying an additional 80 shares during the period. State Treasurer State of Michigan increased its stake in shares of Aaron’s by 0.8% in the second quarter. State Treasurer State of Michigan now owns 26,000 shares of the company’s stock worth $569,000 after buying an additional 200 shares during the period. Comerica Bank increased its stake in shares of Aaron’s by 0.8% in the second quarter. Comerica Bank now owns 44,397 shares of the company’s stock worth $1,091,000 after buying an additional 359 shares during the period. Finally, Suntrust Banks Inc. increased its stake in shares of Aaron’s by 4.2% in the second quarter. Suntrust Banks Inc. now owns 10,675 shares of the company’s stock worth $233,000 after buying an additional 433 shares during the period. Institutional investors own 91.99% of the company’s stock.
Aaron’s, Inc is a specialty retailer of furniture, consumer electronics, computers, appliances and household accessories. The Company’s operating segments include Sales and Lease Ownership, Progressive, HomeSmart, DAMI, Franchise, Manufacturing and Others. The Company’s store-based operations engage in the lease ownership and retail sale of a range of products, such televisions, computers, tablets, mobile phones, living room, dining room and bedroom furniture, mattresses, washers, dryers and refrigerators.
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