Aaron’s, Inc. (AAN) Hits New 1-Year High at $40.60

Aaron’s, Inc. (NYSE:AAN)’s share price reached a new 52-week high on Tuesday . The company traded as high as $40.60 and last traded at $40.57, with a volume of 270,021 shares trading hands. The stock had previously closed at $39.70.

A number of research firms recently weighed in on AAN. SunTrust Banks, Inc. reiterated a “buy” rating on shares of Aaron’s, in a research report on Monday, July 31st. Jefferies Group LLC restated a “buy” rating on shares of Aaron’s, in a research report on Sunday, July 30th. Northcoast Research restated a “buy” rating and set a $52.50 price objective (up from $45.00) on shares of Aaron’s, in a research report on Monday, July 31st. Stifel Nicolaus restated a “buy” rating and set a $55.00 price objective (up from $40.00) on shares of Aaron’s, in a research report on Sunday, July 30th. Finally, TheStreet upgraded Aaron’s, from a “c+” rating to a “b-” rating in a research report on Monday, April 24th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $42.50.

The company has a market cap of $3.20 billion, a price-to-earnings ratio of 23.22 and a beta of 0.17. The firm’s 50-day moving average price is $41.12 and its 200 day moving average price is $34.50.

Aaron’s, (NYSE:AAN) last issued its quarterly earnings results on Friday, July 28th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.58 by $0.10. The firm had revenue of $815.60 million during the quarter, compared to analysts’ expectations of $786.12 million. Aaron’s, had a return on equity of 12.00% and a net margin of 4.36%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 earnings per share. On average, analysts predict that Aaron’s, Inc. will post $2.56 earnings per share for the current fiscal year.

In other news, CFO Steven A. Michaels sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $46.26, for a total transaction of $231,300.00. Following the transaction, the chief financial officer now owns 61,095 shares in the company, valued at $2,826,254.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John W. Robinson sold 15,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $46.11, for a total value of $691,650.00. Following the transaction, the chief executive officer now owns 348,440 shares in the company, valued at approximately $16,066,568.40. The disclosure for this sale can be found here. 1.93% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Capstone Asset Management Co. raised its position in Aaron’s, by 0.3% in the first quarter. Capstone Asset Management Co. now owns 10,684 shares of the company’s stock worth $318,000 after buying an additional 30 shares during the period. Meadow Creek Investment Management LLC raised its position in Aaron’s, by 5.0% in the first quarter. Meadow Creek Investment Management LLC now owns 3,556 shares of the company’s stock worth $106,000 after buying an additional 168 shares during the period. Glen Harbor Capital Management LLC raised its position in Aaron’s, by 5.0% in the first quarter. Glen Harbor Capital Management LLC now owns 4,318 shares of the company’s stock worth $128,000 after buying an additional 204 shares during the period. Northwestern Mutual Investment Management Company LLC raised its position in Aaron’s, by 1.9% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 11,178 shares of the company’s stock worth $245,000 after buying an additional 210 shares during the period. Finally, UBS Group AG raised its position in Aaron’s, by 0.6% in the first quarter. UBS Group AG now owns 44,095 shares of the company’s stock worth $1,311,000 after buying an additional 255 shares during the period. Institutional investors own 99.23% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Aaron’s, Inc. (AAN) Hits New 1-Year High at $40.60” was published by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this piece on another domain, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The legal version of this piece can be read at https://stocknewstimes.com/2017/08/12/aarons-inc-aan-sets-new-1-year-high-at-40-60-updated-updated.html.

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.

Receive News & Ratings for Aaron's Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aaron's Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply