Aaron’s, Inc. (AAN) Receives “Buy” Rating from SunTrust Banks, Inc.
Aaron’s, Inc. (NYSE:AAN)‘s stock had its “buy” rating restated by research analysts at SunTrust Banks, Inc. in a report issued on Monday, July 31st, The Fly reports.
Other research analysts have also issued research reports about the stock. TheStreet raised shares of Aaron’s, from a “c+” rating to a “b-” rating in a research note on Monday, April 24th. Stifel Nicolaus reissued a “buy” rating and issued a $55.00 price objective (up previously from $40.00) on shares of Aaron’s, in a research note on Sunday, July 30th. Jefferies Group LLC reiterated a “buy” rating on shares of Aaron’s, in a research note on Sunday, July 30th. BidaskClub downgraded shares of Aaron’s, from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 7th. Finally, Zacks Investment Research raised shares of Aaron’s, from a “sell” rating to a “hold” rating in a report on Tuesday, April 25th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $42.50.
Shares of Aaron’s, (AAN) traded up 0.87% during trading on Monday, hitting $45.19. The stock had a trading volume of 596,224 shares. Aaron’s, has a 52-week low of $22.37 and a 52-week high of $48.22. The stock has a 50 day moving average of $41.12 and a 200 day moving average of $34.50. The firm has a market cap of $3.20 billion, a PE ratio of 23.22 and a beta of 0.17.
Aaron’s, (NYSE:AAN) last announced its earnings results on Friday, July 28th. The company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.10. The company had revenue of $815.60 million during the quarter, compared to analyst estimates of $786.12 million. Aaron’s, had a net margin of 4.36% and a return on equity of 12.00%. Aaron’s, ‘s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 earnings per share. On average, equities analysts anticipate that Aaron’s, will post $2.56 EPS for the current year.
In related news, CEO John W. Robinson sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $46.11, for a total value of $691,650.00. Following the sale, the chief executive officer now directly owns 348,440 shares in the company, valued at approximately $16,066,568.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven A. Michaels sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $46.26, for a total transaction of $231,300.00. Following the completion of the transaction, the chief financial officer now directly owns 61,095 shares of the company’s stock, valued at approximately $2,826,254.70. The disclosure for this sale can be found here. 1.93% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of AAN. BlackRock Inc. increased its position in Aaron’s, by 4.3% in the second quarter. BlackRock Inc. now owns 7,237,539 shares of the company’s stock worth $281,540,000 after buying an additional 298,839 shares in the last quarter. Vanguard Group Inc. increased its stake in Aaron’s, by 0.4% in the second quarter. Vanguard Group Inc. now owns 6,320,969 shares of the company’s stock worth $245,885,000 after buying an additional 22,626 shares during the period. LSV Asset Management increased its stake in Aaron’s, by 49.0% in the first quarter. LSV Asset Management now owns 2,020,086 shares of the company’s stock worth $60,077,000 after buying an additional 664,286 shares during the period. Northern Trust Corp increased its stake in Aaron’s, by 6.2% in the second quarter. Northern Trust Corp now owns 1,574,361 shares of the company’s stock worth $61,243,000 after buying an additional 91,801 shares during the period. Finally, AJO LP increased its stake in Aaron’s, by 267.0% in the second quarter. AJO LP now owns 1,468,601 shares of the company’s stock worth $57,129,000 after buying an additional 1,068,399 shares during the period. 99.23% of the stock is owned by institutional investors.
Aaron’s, Company Profile
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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