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.
ILLEGAL ACTIVITY WARNING: This news story was originally published by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2018/02/15/share-buyback-program-initiated-by-aarons-aan-board-of-directors.html.
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.
Receive News & Ratings for Aaron's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aaron's and related companies with MarketBeat.com's FREE daily email newsletter.