Aaron’s (AAN) Raised to Buy at Zacks Investment Research

Aaron’s (NYSE:AAN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $45.00 price objective on the stock. Zacks Investment Research‘s price objective points to a potential upside of 13.07% from the stock’s previous close.

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 subject of a number of other reports. Jefferies Group reissued a “buy” rating and issued a $54.00 target price on shares of Aaron’s in a report on Tuesday, December 26th. Sidoti raised shares of Aaron’s from a “neutral” rating to a “buy” rating and set a $45.00 target price for the company in a report on Wednesday, November 29th. Loop Capital raised shares of Aaron’s from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a report on Wednesday, November 8th. KeyCorp raised shares of Aaron’s from a “sector weight” rating to an “overweight” rating and set a $50.00 target price for the company in a report on Thursday, September 28th. Finally, Northcoast Research set a $53.00 target price on shares of Aaron’s and gave the company a “buy” rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $45.27.

Shares of Aaron’s (NYSE:AAN) traded down $0.92 on Wednesday, reaching $39.80. 1,113,500 shares of the company’s stock were exchanged, compared to its average volume of 725,217. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.74 and a current ratio of 2.35. Aaron’s has a twelve month low of $26.12 and a twelve month high of $48.22. The stock has a market cap of $2,800.00, a price-to-earnings ratio of 21.06 and a beta of 0.22.

Aaron’s (NYSE:AAN) last posted its earnings results on Friday, October 27th. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.11). Aaron’s had a net margin of 4.15% and a return on equity of 11.41%. The business had revenue of $838.80 million during the quarter, compared to analysts’ expectations of $827.20 million. During the same period last year, the business posted $0.50 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. equities research analysts expect that Aaron’s will post 2.46 EPS for the current year.

In other news, CFO Steven A. Michaels sold 4,000 shares of Aaron’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $37.15, for a total transaction of $148,600.00. Following the completion of the sale, the chief financial officer now directly owns 56,769 shares in the company, valued at $2,108,968.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John W. Robinson sold 15,000 shares of Aaron’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $36.24, for a total value of $543,600.00. Following the sale, the chief executive officer now owns 337,340 shares of the company’s stock, valued at $12,225,201.60. The disclosure for this sale can be found here. Insiders have sold 19,003 shares of company stock valued at $692,308 over the last ninety days. 1.93% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Aaron’s by 4.3% during the second quarter. BlackRock Inc. now owns 7,237,539 shares of the company’s stock worth $281,540,000 after purchasing an additional 298,839 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Aaron’s by 0.4% during the second quarter. Vanguard Group Inc. now owns 6,320,969 shares of the company’s stock worth $245,885,000 after purchasing an additional 22,626 shares during the last quarter. State Street Corp lifted its position in shares of Aaron’s by 6.8% during the second quarter. State Street Corp now owns 2,235,516 shares of the company’s stock worth $86,967,000 after purchasing an additional 142,599 shares during the last quarter. Northern Trust Corp lifted its position in shares of Aaron’s by 6.2% during the second quarter. Northern Trust Corp now owns 1,574,361 shares of the company’s stock worth $61,243,000 after purchasing an additional 91,801 shares during the last quarter. Finally, AJO LP lifted its position in shares of Aaron’s by 267.0% during the second quarter. AJO LP now owns 1,468,601 shares of the company’s stock worth $57,129,000 after purchasing an additional 1,068,399 shares during the last quarter.

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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.

Analyst Recommendations for Aaron`s (NYSE:AAN)

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