Northcoast Research Reaffirms “Buy” Rating for Aaron’s, Inc. (NYSE:AAN)

Aaron’s, Inc. (NYSE:AAN)‘s stock had its “buy” rating reaffirmed by Northcoast Research in a research note issued to investors on Monday, July 31st. They presently have a $52.50 target price on the stock, up from their prior target price of $45.00. Northcoast Research’s price target would suggest a potential upside of 20.61% from the company’s current price. Northcoast Research also issued estimates for Aaron’s, ‘s Q3 2017 earnings at $0.58 EPS, Q4 2017 earnings at $0.54 EPS, FY2017 earnings at $2.59 EPS, Q1 2018 earnings at $0.95 EPS, Q2 2018 earnings at $0.78 EPS, Q3 2018 earnings at $0.73 EPS, Q4 2018 earnings at $0.66 EPS and FY2018 earnings at $3.12 EPS.

Several other brokerages have also recently weighed in on AAN. Jefferies Group LLC restated a “buy” rating on shares of Aaron’s, in a report on Sunday, July 30th. BidaskClub cut Aaron’s, from a “strong-buy” rating to a “buy” rating in a report on Friday, July 7th. Loop Capital restated a “hold” rating and set a $28.00 target price on shares of Aaron’s, in a report on Sunday, April 23rd. Zacks Investment Research upgraded Aaron’s, from a “hold” rating to a “strong-buy” rating and set a $42.00 target price for the company in a report on Tuesday, May 2nd. Finally, Stifel Nicolaus restated a “buy” rating and set a $55.00 target price (up from $40.00) on shares of Aaron’s, in a report on Sunday, July 30th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Aaron’s, currently has a consensus rating of “Buy” and a consensus price target of $42.50.

Aaron’s, (NYSE:AAN) opened at 43.53 on Monday. The stock has a 50 day moving average of $41.89 and a 200-day moving average of $34.98. Aaron’s, has a 52-week low of $22.37 and a 52-week high of $48.22. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 22.37 and a beta of 0.17.

Aaron’s, (NYSE:AAN) last issued its earnings results on Friday, July 28th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.10. The company 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%. Aaron’s, ‘s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.59 EPS. On average, analysts forecast that Aaron’s, will post $2.56 EPS for the current year.

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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC bought a new position in Aaron’s, during the second quarter worth $1,293,000. Cubist Systematic Strategies LLC acquired a new stake in Aaron’s, during the second quarter worth approximately $211,000. State Street Corp raised its stake in Aaron’s, by 6.8% in the second 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. Intrinsic Edge Capital Management LLC acquired a new stake in Aaron’s, during the second quarter worth approximately $3,793,000. Finally, Royal Bank of Canada raised its stake in Aaron’s, by 48.3% in the second quarter. Royal Bank of Canada now owns 17,863 shares of the company’s stock worth $695,000 after buying an additional 5,816 shares during the last quarter. 99.83% of the stock is owned by institutional investors.

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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