Aaron’s, Inc. (NYSE:AAN) – Investment analysts at KeyCorp raised their FY2018 earnings estimates for Aaron’s in a research report issued on Wednesday, Zacks Investment Research reports. KeyCorp analyst B. Thomas now expects that the company will earn $3.45 per share for the year, up from their prior forecast of $2.90. KeyCorp currently has a “Overweight” rating and a $50.00 target price on the stock.
AAN has been the subject of a number of other reports. Zacks Investment Research downgraded Aaron’s from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Jefferies Group reaffirmed a “buy” rating and set a $54.00 price target on shares of Aaron’s in a research note on Tuesday, December 26th. Sidoti raised Aaron’s from a “neutral” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Wednesday, November 29th. Loop Capital raised Aaron’s from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Wednesday, November 8th. Finally, Northcoast Research set a $53.00 price target on Aaron’s and gave the stock a “buy” rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $45.27.
Aaron’s (NYSE:AAN) last announced its quarterly earnings data on Friday, October 27th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.11). The business 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 firm’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 earnings per share.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Wednesday, December 13th were issued a dividend of $0.03 per share. This is a positive change from Aaron’s’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, December 12th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.29%. Aaron’s’s dividend payout ratio is currently 6.35%.
In other news, CFO Steven A. Michaels sold 4,000 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $37.15, for a total transaction of $148,600.00. Following the transaction, the chief financial officer now owns 56,769 shares of the company’s stock, valued at approximately $2,108,968.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John W. Robinson sold 15,000 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $36.24, for a total value of $543,600.00. Following the transaction, the chief executive officer now directly owns 337,340 shares in the company, valued at approximately $12,225,201.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,003 shares of company stock worth $692,308. 1.93% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Northwestern Mutual Investment Management Company LLC grew its holdings in Aaron’s by 1.9% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 11,178 shares of the company’s stock valued at $245,000 after buying an additional 210 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in 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. Victory Capital Management Inc. grew its holdings in Aaron’s by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,708 shares of the company’s stock valued at $183,000 after buying an additional 705 shares during the last quarter. American Century Companies Inc. grew its holdings in Aaron’s by 0.9% in the 2nd quarter. American Century Companies Inc. now owns 141,875 shares of the company’s stock valued at $5,519,000 after buying an additional 1,251 shares during the last quarter. Finally, TrimTabs Asset Management LLC grew its holdings in Aaron’s by 17.2% in the 3rd quarter. TrimTabs Asset Management LLC now owns 9,709 shares of the company’s stock valued at $424,000 after buying an additional 1,422 shares during the last quarter.
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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.
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