Aaron’s (NYSE:AAN) Cut to Sell at ValuEngine

Aaron’s (NYSE:AAN) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Tuesday, ValuEngine reports.

AAN has been the topic of several other reports. Jefferies Financial Group lifted their price objective on shares of Aaron’s from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Stifel Nicolaus boosted their price target on shares of Aaron’s from $49.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Berenberg Bank began coverage on shares of Aaron’s in a research report on Tuesday, June 23rd. They set a “buy” rating and a $68.00 price target on the stock. TheStreet upgraded shares of Aaron’s from a “d+” rating to a “c-” rating in a research report on Wednesday, July 29th. Finally, KeyCorp boosted their price target on shares of Aaron’s from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, September 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $69.36.

Shares of NYSE:AAN opened at $57.25 on Tuesday. The company has a market cap of $3.84 billion, a PE ratio of -13.63, a P/E/G ratio of 0.72 and a beta of 1.70. The company’s 50-day moving average price is $55.84 and its 200 day moving average price is $39.76. Aaron’s has a fifty-two week low of $13.01 and a fifty-two week high of $78.65. The company has a quick ratio of 1.09, a current ratio of 3.04 and a debt-to-equity ratio of 0.19.

Aaron’s (NYSE:AAN) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.36. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $991.07 million. Aaron’s had a negative net margin of 6.80% and a positive return on equity of 16.23%. Aaron’s’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $0.93 EPS. As a group, equities analysts anticipate that Aaron’s will post 4.43 EPS for the current year.

In other news, CEO Douglas A. Lindsay sold 13,500 shares of Aaron’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $52.00, for a total value of $702,000.00. Following the transaction, the chief executive officer now owns 42,853 shares of the company’s stock, valued at approximately $2,228,356. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Curtis Linn Doman sold 105,990 shares of Aaron’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $59.14, for a total transaction of $6,268,248.60. Following the completion of the transaction, the insider now directly owns 170,049 shares in the company, valued at approximately $10,056,697.86. The disclosure for this sale can be found here. Insiders sold a total of 317,710 shares of company stock worth $17,292,059 in the last ninety days. Corporate insiders own 2.78% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Aaron’s by 2.9% in the first quarter. State Street Corp now owns 2,569,997 shares of the company’s stock worth $58,645,000 after acquiring an additional 71,844 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of Aaron’s by 9.3% in the second quarter. Wedge Capital Management L L P NC now owns 2,296,444 shares of the company’s stock worth $104,259,000 after acquiring an additional 195,858 shares in the last quarter. FMR LLC increased its position in shares of Aaron’s by 29.3% in the second quarter. FMR LLC now owns 1,970,384 shares of the company’s stock worth $89,455,000 after acquiring an additional 446,311 shares in the last quarter. Stephens Investment Management Group LLC increased its position in shares of Aaron’s by 17.7% in the second quarter. Stephens Investment Management Group LLC now owns 1,627,706 shares of the company’s stock worth $73,898,000 after acquiring an additional 245,212 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Aaron’s by 5.4% in the first quarter. Geode Capital Management LLC now owns 988,502 shares of the company’s stock worth $22,517,000 after acquiring an additional 50,385 shares in the last quarter. 96.56% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Aaron`s (NYSE:AAN)

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