Aaron’s Inc. (AAN) Lifted to “Hold” at Zacks Investment Research
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 raised 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, four have issued a buy rating and one has given a strong buy rating to the company. Aaron’s has a consensus rating of Buy and an average target price of $29.92.
Shares of Aaron’s (NYSE:AAN) opened at 25.25 on Tuesday. The stock has a market capitalization of $1.84 billion, a P/E ratio of 13.79 and a beta of 0.23. Aaron’s has a 1-year low of $20.24 and a 1-year high of $40.80. The firm’s 50-day moving average is $25.02 and its 200 day moving average is $24.53.
Aaron’s (NYSE:AAN) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.59 earnings per share for the quarter, beating 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 earned $789.40 million during the quarter, compared to analyst estimates of $809.16 million. During the same quarter last year, the firm posted $0.61 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts expect that Aaron’s will post $2.26 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd were given a $0.025 dividend. 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 related news, Director Robert H. Yanker purchased 40,000 shares of Aaron’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.12% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of AAN. Northwestern Mutual Investment Management Company LLC raised its stake 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. State Treasurer State of Michigan raised its stake in Aaron’s by 0.8% in the second quarter. State Treasurer State of Michigan now owns 26,000 shares of the company’s stock worth $569,000 after buying an additional 200 shares during the period. Comerica Bank raised its stake in Aaron’s by 0.8% in the second quarter. Comerica Bank now owns 44,397 shares of the company’s stock worth $1,091,000 after buying an additional 359 shares during the period. Suntrust Banks Inc. raised its stake 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, BlackRock Advisors LLC raised its stake in Aaron’s by 0.4% in the second quarter. BlackRock Advisors LLC now owns 152,954 shares of the company’s stock worth $3,348,000 after buying an additional 588 shares during the period. 91.99% of the stock is owned by institutional investors and hedge funds.
Aaron’s Company Profile
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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