Aaron’s (AAN) Rating Increased to Buy at Zacks Investment Research

Aaron’s (NYSE:AAN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage currently has a $45.00 target price on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 9.41% from the stock’s previous close.

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. “

A number of other analysts also recently weighed in on the company. Off Wall Street initiated coverage on Aaron’s in a research report on Monday, September 18th. They set a “sell” rating for the company. Raymond James Financial upgraded Aaron’s from a “market perform” rating to a “strong-buy” rating and set a $14.00 target price for the company in a research report on Friday, November 10th. Loop Capital upgraded Aaron’s from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Wednesday, November 8th. KeyCorp upgraded Aaron’s from a “sector weight” rating to an “overweight” rating and set a $50.00 target price for the company in a research report on Thursday, September 28th. Finally, Sidoti upgraded Aaron’s from a “neutral” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $45.27.

Aaron’s (NYSE AAN) traded up $0.01 on Wednesday, reaching $41.13. The company had a trading volume of 404,614 shares, compared to its average volume of 758,417. The company has a market cap of $2,909.69, a P/E ratio of 21.65 and a beta of 0.22. Aaron’s has a twelve month low of $26.12 and a twelve month high of $48.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 0.74.

Aaron’s (NYSE:AAN) last released its earnings results on Friday, October 27th. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.11). The company had revenue of $838.80 million for the quarter, compared to the consensus estimate of $827.20 million. Aaron’s had a net margin of 4.15% and a return on equity of 11.41%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 earnings per share. sell-side analysts predict that Aaron’s will post 2.46 EPS for the current year.

In related news, CEO John W. Robinson sold 15,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $36.24, for a total transaction of $543,600.00. Following the completion of the sale, the chief executive officer now directly owns 337,340 shares in the company, valued at approximately $12,225,201.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Steven A. Michaels sold 4,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $37.15, for a total value of $148,600.00. Following the sale, the chief financial officer now owns 56,769 shares of the company’s stock, valued at $2,108,968.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,003 shares of company stock valued at $692,308. 1.93% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Aaron’s by 13.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,649 shares of the company’s stock worth $103,000 after buying an additional 312 shares during the last quarter. Riverhead Capital Management LLC lifted its position in shares of Aaron’s by 70.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,930 shares of the company’s stock worth $153,000 after buying an additional 1,630 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Aaron’s by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,708 shares of the company’s stock worth $183,000 after buying an additional 705 shares during the last quarter. KBC Group NV bought a new stake in shares of Aaron’s during the 3rd quarter worth $192,000. Finally, ARP Americas LLC bought a new stake in shares of Aaron’s during the 3rd quarter worth $209,000.

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Aaron’s Company Profile

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.

Analyst Recommendations for Aaron`s (NYSE:AAN)

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