Share Buyback Program Initiated by Aaron’s (AAN) Board of Directors

Aaron’s (NYSE:AAN) declared that its board has authorized a stock buyback program, which allows the company to buyback $500.00 million in outstanding shares on Thursday, February 15th, EventVestor reports. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Several equities analysts recently weighed in on AAN shares. Raymond James Financial upgraded Aaron’s from a “market perform” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a research report on Friday, November 10th. Zacks Investment Research upgraded Aaron’s from a “sell” rating to a “hold” rating in a research report on Thursday, December 28th. Jefferies Group reiterated a “buy” rating and set a $54.00 target price on shares of Aaron’s in a research report on Tuesday, December 26th. Stephens reiterated a “buy” rating and set a $61.00 target price on shares of Aaron’s in a research report on Wednesday, January 3rd. Finally, Loop Capital upgraded Aaron’s from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Aaron’s presently has an average rating of “Buy” and a consensus target price of $46.10.

Aaron’s (NYSE:AAN) traded up $5.53 during trading on Thursday, hitting $45.86. The stock had a trading volume of 875,255 shares, compared to its average volume of 711,740. The stock has a market cap of $2,795.77, a P/E ratio of 21.23 and a beta of 0.20. The company has a current ratio of 2.35, a quick ratio of 0.74 and a debt-to-equity ratio of 0.24. Aaron’s has a 52 week low of $26.12 and a 52 week high of $48.22.

Aaron’s (NYSE:AAN) last posted its earnings results on Thursday, February 15th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.10. Aaron’s had a return on equity of 11.41% and a net margin of 4.15%. The business had revenue of $884.60 million during the quarter, compared to analyst estimates of $871.07 million. During the same quarter last year, the firm earned $0.50 earnings per share. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. analysts expect that Aaron’s will post 2.46 EPS for the current fiscal year.

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About Aaron’s

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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