Jefferies Group Begins Coverage on Aaron’s Inc. (AAN)
AAN has been the topic of a number of other research reports. Zacks Investment Research downgraded Aaron’s from a hold rating to a sell rating in a report on Wednesday, September 28th. TheStreet raised Aaron’s from a hold rating to a buy rating in a report on Thursday, September 1st. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $29.93.
Shares of Aaron’s (NYSE:AAN) opened at 23.42 on Thursday. The firm’s 50-day moving average price is $24.64 and its 200-day moving average price is $24.47. The stock has a market capitalization of $1.70 billion, a P/E ratio of 12.79 and a beta of 0.23. Aaron’s has a 52-week low of $20.24 and a 52-week high of $38.85.
Aaron’s (NYSE:AAN) last released its earnings results on Friday, July 29th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Aaron’s had a return on equity of 11.01% and a net margin of 4.15%. The company had revenue of $789.40 million for the quarter, compared to the consensus estimate of $809.16 million. During the same quarter last year, the business posted $0.61 EPS. Aaron’s’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities analysts forecast that Aaron’s will post $2.26 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 2nd were given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Wednesday, August 31st. Aaron’s’s dividend payout ratio (DPR) is presently 5.43%.
In related news, Director Robert H. Yanker acquired 40,000 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The stock was purchased 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 available through this hyperlink. 1.12% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of AAN. Teacher Retirement System of Texas boosted its stake in shares of Aaron’s by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,128 shares of the company’s stock valued at $200,000 after buying an additional 1,108 shares during the last quarter. Amalgamated Bank acquired a new stake in shares of Aaron’s during the second quarter valued at approximately $203,000. Suntrust Banks Inc. boosted its stake in shares of Aaron’s by 4.2% in the second quarter. Suntrust Banks Inc. now owns 10,675 shares of the company’s stock valued at $233,000 after buying an additional 433 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of 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 valued at $245,000 after buying an additional 29 shares during the last quarter. Finally, Miles Capital Inc. acquired a new stake in shares of Aaron’s during the second quarter valued at approximately $249,000. Institutional investors own 92.00% of the company’s stock.
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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