Zacks Investment Research Upgrades Aaron’s Inc. (AAN) to “Hold”
Aaron’s Inc. (NYSE:AAN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to 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 upgraded shares of Aaron’s from a “hold” rating to a “buy” rating in a research note on Thursday, September 1st. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $29.92.
Aaron’s (NYSE:AAN) traded up 0.08% on Tuesday, reaching $24.97. The company had a trading volume of 394,026 shares. The stock’s 50 day moving average price is $25.01 and its 200-day moving average price is $24.51. Aaron’s has a 12-month low of $20.24 and a 12-month high of $40.80. The stock has a market capitalization of $1.82 billion, a PE ratio of 13.64 and a beta of 0.23.
Aaron’s (NYSE:AAN) last issued its earnings results on Friday, July 29th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.02. Aaron’s had a net margin of 4.15% and a return on equity of 11.01%. The company had revenue of $789.40 million for the quarter, compared to analysts’ expectations of $809.16 million. During the same quarter last year, the company posted $0.61 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts expect that Aaron’s will post $2.26 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 2nd were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Wednesday, August 31st. Aaron’s’s dividend payout ratio (DPR) is 5.43%.
In other news, Director Robert H. Yanker bought 40,000 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were bought at an average price of $25.29 per share, for a total transaction of $1,011,600.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.12% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AAN. Amalgamated Bank purchased a new position in Aaron’s during the second quarter worth $203,000. Teacher Retirement System of Texas boosted its position in Aaron’s by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,128 shares of the company’s stock worth $200,000 after buying an additional 1,108 shares during the period. AMP Capital Investors Ltd purchased a new position in Aaron’s during the first quarter worth $253,000. Suntrust Banks Inc. boosted 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 worth $233,000 after buying an additional 433 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC boosted 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 worth $245,000 after buying an additional 29 shares during the period. Institutional investors own 91.99% of the company’s stock.
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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