Aaron’s (NYSE:AAN) Upgraded by Zacks Investment Research to Hold

Aaron’s (NYSE:AAN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, December 28th.

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. Jefferies Group reaffirmed a “buy” rating and set 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 on the stock 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 price target on the stock 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 price target on the stock in a report on Thursday, September 28th. Finally, Northcoast Research set a $53.00 price target on shares of Aaron’s and gave the stock a “buy” rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $45.27.

Shares of Aaron’s (NYSE AAN) opened at $41.13 on Thursday. Aaron’s has a 52 week low of $26.12 and a 52 week high of $48.22. The company has a quick ratio of 0.74, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. The stock has a market cap of $2,909.69, a P/E ratio of 21.65 and a beta of 0.22.

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

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Aaron’s by 4.3% during the second quarter. BlackRock Inc. now owns 7,237,539 shares of the company’s stock valued at $281,540,000 after buying an additional 298,839 shares during the period. Vanguard Group Inc. grew its position in Aaron’s by 0.4% during the second quarter. Vanguard Group Inc. now owns 6,320,969 shares of the company’s stock valued at $245,885,000 after buying an additional 22,626 shares during the period. State Street Corp grew its position in Aaron’s by 6.8% during the second quarter. State Street Corp now owns 2,235,516 shares of the company’s stock valued at $86,967,000 after buying an additional 142,599 shares during the period. Northern Trust Corp grew its position in Aaron’s by 6.2% during the second quarter. Northern Trust Corp now owns 1,574,361 shares of the company’s stock valued at $61,243,000 after buying an additional 91,801 shares during the period. Finally, AJO LP grew its position in Aaron’s by 267.0% during the second quarter. AJO LP now owns 1,468,601 shares of the company’s stock valued at $57,129,000 after buying an additional 1,068,399 shares during the period.

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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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