Zacks Investment Research Downgrades Aaron’s, Inc. (AAN) to Sell

Aaron’s, Inc. (NYSE:AAN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

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 equities research analysts have also weighed in on the stock. Off Wall Street initiated coverage on shares of Aaron’s, in a report on Monday, September 18th. They set a “sell” rating for the company. BidaskClub lowered shares of Aaron’s, from a “strong-buy” rating to a “buy” rating in a report on Friday, July 7th. Jefferies Group LLC reiterated a “buy” rating and set a $54.00 price objective on shares of Aaron’s, in a report on Thursday, September 7th. KeyCorp upgraded shares of Aaron’s, from a “sector weight” rating to an “overweight” rating and set a $50.00 price objective for the company in a report on Thursday, September 28th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating on shares of Aaron’s, in a report on Monday, July 31st. Two 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’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $45.36.

Aaron’s, (NYSE AAN) opened at 42.96 on Tuesday. The company has a market capitalization of $3.04 billion, a P/E ratio of 22.08 and a beta of 0.21. Aaron’s, has a 1-year low of $22.37 and a 1-year high of $48.22. The company has a 50-day moving average of $42.58 and a 200-day moving average of $38.73.

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, beating analysts’ consensus estimates of $0.58 by $0.10. Aaron’s, had a net margin of 4.36% and a return on equity of 12.00%. The company had revenue of $815.60 million during the quarter, compared to analyst estimates of $786.12 million. During the same quarter last year, the business posted $0.59 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts expect that Aaron’s, will post $2.55 EPS for the current fiscal year.

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In other news, CEO John W. Robinson sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $46.11, for a total value of $691,650.00. Following the completion of the sale, the chief executive officer now owns 348,440 shares in the company, valued at approximately $16,066,568.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Steven A. Michaels sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $46.26, for a total transaction of $231,300.00. Following the completion of the sale, the chief financial officer now owns 61,095 shares of the company’s stock, valued at approximately $2,826,254.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,776 shares of company stock valued at $2,742,507. Company insiders own 1.93% of the company’s stock.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Aaron’s, by 4.3% in the 2nd quarter. BlackRock Inc. now owns 7,237,539 shares of the company’s stock valued at $281,540,000 after purchasing an additional 298,839 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Aaron’s, by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,320,969 shares of the company’s stock valued at $245,885,000 after purchasing an additional 22,626 shares in the last quarter. State Street Corp raised its holdings in shares of Aaron’s, by 6.8% in the 2nd quarter. State Street Corp now owns 2,235,516 shares of the company’s stock valued at $86,967,000 after purchasing an additional 142,599 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Aaron’s, by 6.2% in the 2nd quarter. Northern Trust Corp now owns 1,574,361 shares of the company’s stock valued at $61,243,000 after purchasing an additional 91,801 shares in the last quarter. Finally, AJO LP raised its holdings in shares of Aaron’s, by 267.0% in the 2nd quarter. AJO LP now owns 1,468,601 shares of the company’s stock valued at $57,129,000 after purchasing an additional 1,068,399 shares in the last quarter.

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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