Jefferies Financial Group Increases Aaron’s (NYSE:AAN) Price Target to $70.00

Aaron’s (NYSE:AAN) had its price objective boosted by Jefferies Financial Group from $63.00 to $70.00 in a report released on Thursday, The Fly reports. The brokerage currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the company. Raymond James boosted their target price on Aaron’s from $50.00 to $64.00 and gave the stock a strong-buy rating in a research note on Thursday. KeyCorp upped their price objective on shares of Aaron’s from $60.00 to $64.00 and gave the stock an overweight rating in a research report on Thursday. SunTrust Banks increased their price objective on shares of Aaron’s from $40.00 to $50.00 and gave the company a buy rating in a research note on Thursday, June 4th. Berenberg Bank assumed coverage on shares of Aaron’s in a research note on Tuesday, June 23rd. They set a buy rating and a $68.00 target price on the stock. Finally, ValuEngine upgraded shares of Aaron’s from a sell rating to a hold rating in a report on Thursday, June 4th. Two research analysts have rated the stock with a hold rating, nine have given 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 $62.70.

Shares of Aaron’s stock opened at $52.18 on Thursday. The company has a 50 day moving average of $44.44 and a 200-day moving average of $39.92. The company has a market cap of $3.50 billion, a PE ratio of -12.42, a price-to-earnings-growth ratio of 1.59 and a beta of 1.62. The company has a current ratio of 3.04, a quick ratio of 1.23 and a debt-to-equity ratio of 0.19. Aaron’s has a 1-year low of $13.01 and a 1-year high of $78.65.

Aaron’s (NYSE:AAN) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.36. Aaron’s had a positive return on equity of 16.23% and a negative net margin of 6.80%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $991.07 million. During the same quarter last year, the company posted $0.93 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. Research analysts forecast that Aaron’s will post 3.4 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Thursday, June 18th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.31%. The ex-dividend date was Wednesday, June 17th. Aaron’s’s dividend payout ratio (DPR) is currently 4.11%.

Several large investors have recently modified their holdings of the company. Morgan Stanley grew its stake in shares of Aaron’s by 270.4% in the first quarter. Morgan Stanley now owns 702,420 shares of the company’s stock worth $16,001,000 after purchasing an additional 512,787 shares during the last quarter. State Street Corp raised its position in Aaron’s by 2.9% during the 1st quarter. State Street Corp now owns 2,569,997 shares of the company’s stock worth $58,645,000 after purchasing an additional 71,844 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in Aaron’s by 22.0% during the 1st quarter. Clearbridge Investments LLC now owns 652,060 shares of the company’s stock worth $14,854,000 after buying an additional 117,452 shares during the period. Deutsche Bank AG grew its position in shares of Aaron’s by 833.1% in the 1st quarter. Deutsche Bank AG now owns 308,905 shares of the company’s stock valued at $7,037,000 after buying an additional 275,800 shares during the last quarter. Finally, First Citizens Bank & Trust Co. bought a new stake in shares of Aaron’s in the 2nd quarter valued at about $337,000. Institutional investors own 98.57% of the company’s stock.

About Aaron’s

Aaron's, Inc operates as an omnichannel provider of lease-purchase solutions to underserved and credit-challenged customers. It operates in three segments: Progressive Leasing, Aaron's Business, and DAMI. The company also engages in the sale, lease ownership, and specialty retailing of furniture, consumer electronics, home appliances, and accessories.

Further Reading: Fundamental Analysis and Individual Investors

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