Aaron’s Inc. (NYSE:AAN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.
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 research analysts have also weighed in on AAN. TheStreet raised Aaron’s from a “hold” rating to a “buy” rating in a research report on Thursday, September 1st. Jefferies Group initiated coverage on Aaron’s in a research report on Thursday, October 13th. They set a “buy” rating and a $30.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $29.93.
Aaron’s (NYSE:AAN) opened at 24.33 on Thursday. The stock’s 50 day moving average price is $24.34 and its 200-day moving average price is $24.34. Aaron’s has a 12 month low of $20.24 and a 12 month high of $27.72. The stock has a market cap of $1.77 billion, a PE ratio of 12.73 and a beta of 0.23.
Aaron’s (NYSE:AAN) last posted its quarterly earnings data on Friday, October 28th. The company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.03. Aaron’s had a return on equity of 11.01% and a net margin of 4.15%. The company earned $769 million during the quarter, compared to analyst estimates of $387.93 million. During the same quarter last year, the company earned $0.39 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Analysts anticipate that Aaron’s will post $2.26 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Wednesday, August 31st. Aaron’s’s payout ratio is 5.24%.
In other news, Director Robert H. Yanker acquired 40,000 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was bought at an average price of $25.29 per share, with a total value of $1,011,600.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.12% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of AAN. BlackRock Fund Advisors raised its stake in shares of Aaron’s by 50.6% in the second quarter. BlackRock Fund Advisors now owns 3,224,821 shares of the company’s stock valued at $70,591,000 after buying an additional 1,083,323 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Aaron’s by 13.2% in the second quarter. Dimensional Fund Advisors LP now owns 5,326,839 shares of the company’s stock valued at $116,606,000 after buying an additional 619,133 shares during the last quarter. Edge Asset Management Inc. raised its stake in shares of Aaron’s by 289.0% in the second quarter. Edge Asset Management Inc. now owns 729,701 shares of the company’s stock valued at $15,973,000 after buying an additional 542,119 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of Aaron’s by 481.8% in the second quarter. Retirement Systems of Alabama now owns 484,821 shares of the company’s stock valued at $10,613,000 after buying an additional 401,496 shares during the last quarter. Finally, Palisade Capital Management LLC NJ purchased a new stake in shares of Aaron’s during the second quarter valued at approximately $7,184,000. 92.00% of the stock is owned by institutional investors.
Aaron’s, Inc is a specialty retailer of furniture, consumer electronics, computers, appliances and household accessories. The Company’s operating segments include Sales and Lease Ownership, Progressive, HomeSmart, DAMI, Franchise, Manufacturing and Others. The Company’s store-based operations engage in the lease ownership and retail sale of a range of products, such televisions, computers, tablets, mobile phones, living room, dining room and bedroom furniture, mattresses, washers, dryers and refrigerators.