Aaron’s Inc. (NYSE:AAN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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. “
Separately, TheStreet raised shares of Aaron’s from a “hold” rating to a “buy” rating in a report on Thursday, September 1st. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $29.92.
Aaron’s (NYSE:AAN) traded up 0.08% during mid-day trading on Tuesday, hitting $24.97. 394,026 shares of the stock were exchanged. The stock’s 50 day moving average is $25.01 and its 200 day moving average is $24.51. The stock has a market cap of $1.82 billion, a PE ratio of 13.64 and a beta of 0.23. Aaron’s has a 52-week low of $20.24 and a 52-week high of $40.80.
Aaron’s (NYSE:AAN) last released its quarterly earnings data on Friday, July 29th. The company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. The firm had revenue of $789.40 million for the quarter, compared to analyst estimates of $809.16 million. Aaron’s had a net margin of 4.15% and a return on equity of 11.01%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 earnings per share. Analysts forecast that Aaron’s will post $2.26 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Wednesday, August 31st. Aaron’s’s payout ratio is 5.43%.
In related news, Director Robert H. Yanker acquired 40,000 shares of the firm’s stock in a transaction on Friday, August 19th. The shares were acquired at an average cost of $25.29 per share, with a total value of $1,011,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.12% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Investment Management Company LLC increased its position in Aaron’s by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 11,178 shares of the company’s stock valued at $245,000 after buying an additional 29 shares during the last quarter. State Treasurer State of Michigan increased its position in Aaron’s by 0.8% in the second quarter. State Treasurer State of Michigan now owns 26,000 shares of the company’s stock valued at $569,000 after buying an additional 200 shares during the last quarter. Comerica Bank increased its position in Aaron’s by 0.8% in the second quarter. Comerica Bank now owns 44,397 shares of the company’s stock valued at $1,091,000 after buying an additional 359 shares during the last quarter. Suntrust Banks Inc. increased its position in Aaron’s by 4.2% in the second quarter. Suntrust Banks Inc. now owns 10,675 shares of the company’s stock valued at $233,000 after buying an additional 433 shares during the last quarter. Finally, BlackRock Advisors LLC increased its position in Aaron’s by 0.4% in the second quarter. BlackRock Advisors LLC now owns 152,954 shares of the company’s stock valued at $3,348,000 after buying an additional 588 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors and hedge funds.
Aaron’s Company Profile
Aaron’s, Inc is a specialty retailer of furniture, consumer electronics, computers, appliances and household accessories. The Company’s operating segments include Sales and Lease Ownership, Progressive, HomeSmart, DAMI, Franchise, Manufacturing and Others. The Company’s store-based operations engage in the lease ownership and retail sale of a range of products, such televisions, computers, tablets, mobile phones, living room, dining room and bedroom furniture, mattresses, washers, dryers and refrigerators.
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