Aaron’s, Inc. (AAN) Given Buy Rating at Jefferies Group LLC
Aaron’s, Inc. (NYSE:AAN)‘s stock had its “buy” rating restated by stock analysts at Jefferies Group LLC in a report issued on Thursday. They currently have a $54.00 price objective on the stock. Jefferies Group LLC’s price target indicates a potential upside of 25.70% from the company’s previous close.
A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Aaron’s, from a “hold” rating to a “sell” rating in a report on Tuesday. KeyCorp raised Aaron’s, from a “sector weight” rating to an “overweight” rating and set a $50.00 target price for the company in a report on Thursday, September 28th. Off Wall Street assumed coverage on Aaron’s, in a report on Monday, September 18th. They issued a “sell” rating for the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $55.00 target price on shares of Aaron’s, in a report on Friday, September 1st. Finally, Northcoast Research reaffirmed a “buy” rating and issued a $52.50 target price (up previously from $45.00) on shares of Aaron’s, in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $45.36.
Shares of Aaron’s, (NYSE AAN) opened at 42.96 on Thursday. The stock has a 50 day moving average price of $42.58 and a 200-day moving average price of $38.73. Aaron’s, has a 52 week low of $22.37 and a 52 week high of $48.22. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 22.08 and a beta of 0.21.
Aaron’s, (NYSE:AAN) last announced its quarterly earnings data on Friday, July 28th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.10. Aaron’s, had a return on equity of 12.00% and a net margin of 4.36%. The business had revenue of $815.60 million during the quarter, compared to the consensus estimate of $786.12 million. During the same period in the prior year, the company earned $0.59 EPS. Aaron’s, ‘s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities research analysts forecast that Aaron’s, will post $2.55 earnings per share for the current year.
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In other news, insider Curtis Linn Doman sold 30,000 shares of the stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $43.35, for a total value of $1,300,500.00. Following the completion of the sale, the insider now owns 101,775 shares of the company’s stock, valued at $4,411,946.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert P. Sinclair, Jr. sold 1,000 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the sale, the insider now directly owns 11,469 shares of the company’s stock, valued at approximately $516,105. The disclosure for this sale can be found here. In the last three months, insiders sold 61,776 shares of company stock valued at $2,742,507. Insiders own 1.93% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP acquired a new stake in shares of Aaron’s, in the first quarter valued at about $688,000. Great West Life Assurance Co. Can increased its stake in shares of Aaron’s, by 0.8% in the second quarter. Great West Life Assurance Co. Can now owns 38,370 shares of the company’s stock valued at $1,492,000 after buying an additional 307 shares during the period. Legal & General Group Plc increased its stake in shares of Aaron’s, by 10.3% in the second quarter. Legal & General Group Plc now owns 80,025 shares of the company’s stock valued at $3,112,000 after buying an additional 7,493 shares during the period. United Services Automobile Association acquired a new stake in shares of Aaron’s, in the first quarter valued at about $493,000. Finally, Vanguard Group Inc. increased its stake in shares of Aaron’s, by 6.1% in the first quarter. Vanguard Group Inc. now owns 6,298,343 shares of the company’s stock valued at $187,313,000 after buying an additional 361,856 shares during the period.
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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