Off Wall Street Initiates Coverage on Aaron’s, Inc. (AAN)

Off Wall Street initiated coverage on shares of Aaron’s, Inc. (NYSE:AAN) in a note issued to investors on Monday. The firm set a “sell” rating on the stock.

A number of other analysts have also recently issued reports on the company. Jefferies Group LLC reissued a “buy” rating and set a $54.00 target price on shares of Aaron’s, in a research note on Thursday, September 7th. Stifel Nicolaus reissued a “buy” rating and set a $55.00 target price on shares of Aaron’s, in a research note on Friday, September 1st. Northcoast Research reaffirmed a “buy” rating and set a $52.50 price target (up previously from $45.00) on shares of Aaron’s, in a research report on Monday, July 31st. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of Aaron’s, in a research report on Monday, July 31st. Finally, BidaskClub downgraded Aaron’s, from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $44.21.

Aaron’s, (AAN) traded down 6.76% on Monday, reaching $40.00. 718,267 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $44.31 and its 200 day moving average price is $36.91. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 20.55 and a beta of 0.18. Aaron’s, has a 1-year low of $22.37 and a 1-year high of $48.22.

Aaron’s, (NYSE:AAN) last posted its earnings results on Friday, July 28th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $786.12 million. During the same period in the prior year, the business earned $0.59 EPS. Aaron’s, ‘s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts expect that Aaron’s, will post $2.56 earnings per share for the current year.

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In other news, insider Robert P. Sinclair, Jr. sold 1,000 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was 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 owns 11,469 shares of the company’s stock, valued at approximately $516,105. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert P. Sinclair, Jr. sold 4,000 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $43.47, for a total value of $173,880.00. Following the completion of the sale, the insider now directly owns 12,469 shares of the company’s stock, valued at approximately $542,027.43. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,776 shares of company stock valued at $2,742,507. Insiders own 1.93% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AAN. LS Investment Advisors LLC boosted its holdings in shares of Aaron’s, by 34.5% in the 2nd quarter. LS Investment Advisors LLC now owns 2,659 shares of the company’s stock valued at $103,000 after buying an additional 682 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Aaron’s, by 13.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,649 shares of the company’s stock valued at $103,000 after buying an additional 312 shares during the last quarter. Meadow Creek Investment Management LLC boosted its holdings in shares of Aaron’s, by 5.0% in the 1st quarter. Meadow Creek Investment Management LLC now owns 3,556 shares of the company’s stock valued at $106,000 after buying an additional 168 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Aaron’s, by 24.1% in the 1st quarter. Victory Capital Management Inc. now owns 4,003 shares of the company’s stock valued at $119,000 after buying an additional 778 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Aaron’s, by 29.5% in the 1st quarter. Bank of Montreal Can now owns 4,219 shares of the company’s stock valued at $126,000 after buying an additional 961 shares during the last quarter. 99.83% of the stock is owned by institutional investors.

About Aaron’s,

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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