Aaron’s (AAN) Lifted to Strong-Buy at Raymond James Financial

Raymond James Financial upgraded shares of Aaron’s (NYSE:AAN) from a market perform rating to a strong-buy rating in a research note issued to investors on Friday, November 10th, Marketbeat Ratings reports. The firm currently has $14.00 target price on the stock.

A number of other research firms also recently commented on AAN. Off Wall Street started coverage on Aaron’s in a report on Monday, September 18th. They issued a sell rating on the stock. Jefferies Group restated a buy rating on shares of Aaron’s in a report on Sunday, July 30th. Stifel Nicolaus restated a buy rating and issued a $55.00 price objective on shares of Aaron’s in a report on Friday, September 1st. Janney Montgomery Scott started coverage on Aaron’s in a report on Wednesday, October 18th. They issued a neutral rating and a $42.00 price objective on the stock. Finally, Northcoast Research restated a buy rating and issued a $52.50 price objective (up from $45.00) on shares of Aaron’s in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $43.25.

Aaron’s (AAN) traded up $0.99 during trading on Friday, hitting $38.00. The stock had a trading volume of 1,101,700 shares, compared to its average volume of 831,980. The stock has a market cap of $2,620.00, a P/E ratio of 14.71 and a beta of 0.23. The company has a current ratio of 2.35, a quick ratio of 0.74 and a debt-to-equity ratio of 0.24. Aaron’s has a 52 week low of $26.12 and a 52 week high of $48.22.

Aaron’s (NYSE:AAN) last released its quarterly earnings data on Friday, October 27th. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.11). The firm had revenue of $838.80 million during the quarter, compared to analysts’ expectations of $827.20 million. Aaron’s had a return on equity of 11.41% and a net margin of 4.15%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 earnings per share. analysts expect that Aaron’s will post 2.47 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Wednesday, December 13th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Tuesday, December 12th. This is a positive change from Aaron’s’s previous quarterly dividend of $0.03. Aaron’s’s dividend payout ratio (DPR) is 5.82%.

In other Aaron’s news, CEO John W. Robinson sold 15,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 337,340 shares of the company’s stock, valued at approximately $12,225,201.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Steven A. Michaels sold 4,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 56,769 shares in the company, valued at approximately $2,108,968.35. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 2,033,000 shares of company stock valued at $89,330 and have sold 19,003 shares valued at $692,308. 1.93% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Aaron’s by 4.3% during the 2nd quarter. BlackRock Inc. now owns 7,237,539 shares of the company’s stock worth $281,540,000 after buying an additional 298,839 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Aaron’s by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,320,969 shares of the company’s stock worth $245,885,000 after buying an additional 22,626 shares during the last quarter. State Street Corp lifted its holdings in Aaron’s by 6.8% during the 2nd quarter. State Street Corp now owns 2,235,516 shares of the company’s stock worth $86,967,000 after buying an additional 142,599 shares during the last quarter. Northern Trust Corp lifted its holdings in Aaron’s by 6.2% during the 2nd quarter. Northern Trust Corp now owns 1,574,361 shares of the company’s stock worth $61,243,000 after buying an additional 91,801 shares during the last quarter. Finally, AJO LP lifted its holdings in Aaron’s by 267.0% during the 2nd quarter. AJO LP now owns 1,468,601 shares of the company’s stock worth $57,129,000 after buying an additional 1,068,399 shares during the last quarter. 99.92% of the stock is currently owned by institutional investors.

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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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