Aaron’s, Inc. (AAN) Downgraded by Zacks Investment Research
Aaron’s, Inc. (NYSE:AAN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.
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. “
AAN has been the topic of several other research reports. Off Wall Street initiated coverage on Aaron’s, in a research note on Monday, September 18th. They issued a “sell” rating on the stock. BidaskClub lowered Aaron’s, from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 7th. Jefferies Group LLC restated a “buy” rating and issued a $54.00 price objective on shares of Aaron’s, in a research note on Thursday, September 7th. KeyCorp upgraded Aaron’s, from a “sector weight” rating to an “overweight” rating and set a $50.00 price objective on the stock in a research note on Thursday, September 28th. Finally, SunTrust Banks, Inc. restated a “buy” rating on shares of Aaron’s, in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $45.36.
Shares of Aaron’s, (AAN) traded up 0.95% on Wednesday, hitting $44.61. The company had a trading volume of 414,565 shares. Aaron’s, has a 12-month low of $22.37 and a 12-month high of $48.22. The firm has a 50 day moving average of $42.58 and a 200-day moving average of $38.18. The firm has a market capitalization of $3.16 billion, a P/E ratio of 22.92 and a beta of 0.21.
Aaron’s, (NYSE:AAN) last released its earnings results on Friday, July 28th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.10. Aaron’s, had a return on equity of 12.00% and a net margin of 4.36%. The business had revenue of $815.60 million for the quarter, compared to analyst estimates of $786.12 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. Aaron’s, ‘s revenue was up 3.3% on a year-over-year basis. On average, equities analysts predict that Aaron’s, will post $2.55 EPS for the current year.
In other news, insider Curtis Linn Doman sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $43.35, for a total value of $1,300,500.00. Following the transaction, the insider now owns 101,775 shares of the company’s stock, valued at $4,411,946.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven A. Michaels sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $46.26, for a total value of $231,300.00. Following the completion of the transaction, the chief financial officer now directly owns 61,095 shares in the company, valued at approximately $2,826,254.70. The disclosure for this sale can be found here. Insiders sold 61,776 shares of company stock worth $2,742,507 in the last 90 days. Corporate insiders own 1.93% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP acquired a new position in shares of Aaron’s, in the first quarter valued at approximately $688,000. Great West Life Assurance Co. Can grew its position in shares of Aaron’s, by 0.8% in the second quarter. Great West Life Assurance Co. Can now owns 38,370 shares of the company’s stock valued at $1,492,000 after purchasing an additional 307 shares during the last quarter. Legal & General Group Plc grew its position in shares of Aaron’s, by 10.3% in the second 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 during the last quarter. United Services Automobile Association acquired a new position in shares of Aaron’s, in the first quarter valued at approximately $493,000. Finally, Vanguard Group Inc. grew its position in shares of Aaron’s, by 6.1% in the first quarter. Vanguard Group Inc. now owns 6,298,343 shares of the company’s stock valued at $187,313,000 after purchasing an additional 361,856 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors.
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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