Aaron’s, Inc. (AAN) Given Buy Rating at Jefferies Group LLC
AAN has been the topic of a number of other research reports. BidaskClub downgraded shares of Aaron’s, from a strong-buy rating to a buy rating in a research report on Friday, July 7th. Stifel Nicolaus reissued a buy rating and set a $55.00 target price (up previously from $40.00) on shares of Aaron’s, in a research report on Sunday, July 30th. SunTrust Banks, Inc. reissued a buy rating on shares of Aaron’s, in a research report on Monday, July 31st. Finally, Northcoast Research reissued a buy rating and set a $52.50 target price (up previously from $45.00) on shares of Aaron’s, in a research report on Monday, July 31st. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $44.21.
Shares of Aaron’s, (AAN) traded up 1.09% during midday trading on Thursday, reaching $41.56. 357,195 shares of the company’s stock were exchanged. Aaron’s, has a 12-month low of $22.37 and a 12-month high of $48.22. The stock’s 50 day moving average price is $43.87 and its 200 day moving average price is $36.32. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 21.36 and a beta of 0.18.
Aaron’s, (NYSE:AAN) last posted its earnings results on Friday, July 28th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. The business had revenue of $815.60 million for the quarter, compared to the consensus estimate of $786.12 million. Aaron’s, had a net margin of 4.36% and a return on equity of 12.00%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS. Equities analysts anticipate that Aaron’s, will post $2.56 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a $0.027 dividend. This represents a $0.11 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Thursday, September 14th. Aaron’s, ‘s payout ratio is currently 5.64%.
In other news, CFO Steven A. Michaels sold 5,000 shares of Aaron’s, stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $46.26, for a total value of $231,300.00. Following the transaction, the chief financial officer now owns 61,095 shares of the company’s stock, valued at approximately $2,826,254.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John W. Robinson sold 15,000 shares of Aaron’s, stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $46.11, for a total transaction of $691,650.00. Following the completion of the transaction, the chief executive officer now directly owns 348,440 shares in the company, valued at approximately $16,066,568.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,776 shares of company stock worth $2,742,507. Insiders own 1.93% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC purchased a new position in shares of Aaron’s, in the 2nd quarter worth approximately $1,293,000. Cubist Systematic Strategies LLC purchased a new position in shares of Aaron’s, in the 2nd quarter worth approximately $211,000. State Street Corp grew its position in shares of Aaron’s, by 6.8% in the 2nd quarter. State Street Corp now owns 2,235,516 shares of the company’s stock worth $86,967,000 after buying an additional 142,599 shares during the last quarter. Intrinsic Edge Capital Management LLC purchased a new position in shares of Aaron’s, in the 2nd quarter worth approximately $3,793,000. Finally, Royal Bank of Canada grew its position in shares of Aaron’s, by 48.3% in the 2nd quarter. Royal Bank of Canada now owns 17,863 shares of the company’s stock worth $695,000 after buying an additional 5,816 shares during the last quarter. 99.83% of the stock is currently owned by hedge funds and other 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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