TheStreet Upgrades Aaron’s Inc. (AAN) to Buy
Aaron’s Inc. (NYSE:AAN) was upgraded by research analysts at TheStreet from a “hold” rating to a “buy” rating in a research report issued on Tuesday.
Other analysts have also recently issued reports about the company. Jefferies Group started coverage on Aaron’s in a research report on Thursday, October 13th. They set a “buy” rating and a $30.00 price objective on the stock. Zacks Investment Research upgraded Aaron’s from a “sell” rating to a “hold” rating in a research report on Tuesday, October 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $29.00.
Shares of Aaron’s (NYSE:AAN) opened at 29.73 on Tuesday. The company’s 50 day moving average is $25.36 and its 200-day moving average is $24.42. Aaron’s has a 52 week low of $20.24 and a 52 week high of $29.98. The company has a market capitalization of $2.12 billion, a PE ratio of 15.56 and a beta of 0.18.
Aaron’s (NYSE:AAN) last released its quarterly earnings data on Friday, October 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The business had revenue of $769 million for the quarter, compared to analysts’ expectations of $778.73 million. Aaron’s had a return on equity of 11.36% and a net margin of 4.31%. Aaron’s’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 earnings per share. On average, analysts expect that Aaron’s will post $2.27 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Monday, December 12th will be paid a $0.0275 dividend. The ex-dividend date of this dividend is Thursday, December 8th. This represents a $0.11 dividend on an annualized basis and a yield of 0.37%. This is a positive change from Aaron’s’s previous quarterly dividend of $0.03. Aaron’s’s payout ratio is currently 5.24%.
A number of institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in Aaron’s by 352.3% in the third quarter. PNC Financial Services Group Inc. now owns 6,111 shares of the company’s stock worth $155,000 after buying an additional 4,760 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Aaron’s by 93.8% in the third quarter. Tower Research Capital LLC TRC now owns 7,215 shares of the company’s stock worth $183,000 after buying an additional 3,493 shares in the last quarter. Acrospire Investment Management LLC raised its position in Aaron’s by 471.4% in the third quarter. Acrospire Investment Management LLC now owns 8,000 shares of the company’s stock worth $203,000 after buying an additional 6,600 shares in the last quarter. Amalgamated Bank acquired a new position in Aaron’s during the second quarter worth approximately $203,000. Finally, Parkwood LLC acquired a new position in Aaron’s during the third quarter worth approximately $215,000. 94.25% of the stock is currently owned by institutional investors.
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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