Aaron’s Inc. (AAN) Coverage Initiated at Jefferies Group
Equities researchers at Jefferies Group began coverage on shares of Aaron’s Inc. (NYSE:AAN) in a research report issued on Thursday. The brokerage set a “buy” rating on the stock.
Other analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Aaron’s from a “sell” rating to a “hold” rating in a research note on Tuesday, October 4th. TheStreet upgraded shares of Aaron’s from a “hold” rating to a “buy” rating in a research note on Thursday, September 1st. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $29.92.
Aaron’s (NYSE:AAN) opened at 22.68 on Thursday. The stock’s 50 day moving average is $24.89 and its 200 day moving average is $24.52. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 12.39 and a beta of 0.23. Aaron’s has a 12-month low of $20.24 and a 12-month high of $38.85.
Aaron’s (NYSE:AAN) last released its earnings results 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. Aaron’s had a net margin of 4.15% and a return on equity of 11.01%. The firm had revenue of $789.40 million for the quarter, compared to analyst estimates of $809.16 million. During the same period in the prior year, the firm earned $0.61 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that Aaron’s will post $2.26 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Wednesday, August 31st. Aaron’s’s payout ratio is currently 5.43%.
In other news, Director Robert H. Yanker acquired 40,000 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was acquired at an average cost of $25.29 per share, with a total value of $1,011,600.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.12% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of AAN. Aperio Group LLC increased its stake in Aaron’s by 43.6% in the first quarter. Aperio Group LLC now owns 84,212 shares of the company’s stock valued at $2,114,000 after buying an additional 25,560 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in Aaron’s by 9.3% in the first quarter. TIAA CREF Investment Management LLC now owns 413,311 shares of the company’s stock valued at $10,374,000 after buying an additional 35,339 shares during the last quarter. Teachers Advisors Inc. increased its stake in Aaron’s by 3.2% in the first quarter. Teachers Advisors Inc. now owns 56,992 shares of the company’s stock valued at $1,430,000 after buying an additional 1,778 shares during the last quarter. Prudential Financial Inc. increased its stake in Aaron’s by 98.5% in the first quarter. Prudential Financial Inc. now owns 199,081 shares of the company’s stock valued at $4,997,000 after buying an additional 98,800 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Aaron’s by 271.9% in the first quarter. JPMorgan Chase & Co. now owns 398,312 shares of the company’s stock valued at $9,998,000 after buying an additional 291,209 shares during the last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.
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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