SunTrust Banks, Inc. Reiterates “Buy” Rating for Aaron’s, Inc. (NYSE:AAN)

Aaron’s, Inc. (NYSE:AAN)‘s stock had its “buy” rating reiterated by research analysts at SunTrust Banks, Inc. in a research note issued to investors on Monday, July 31st, The Fly reports.

AAN has been the subject of several other reports. Zacks Investment Research raised Aaron’s, from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. TheStreet raised Aaron’s, from a “c+” rating to a “b-” rating in a research report on Monday, April 24th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $55.00 target price (up previously from $40.00) on shares of Aaron’s, in a research report on Sunday, July 30th. Loop Capital reaffirmed a “hold” rating and issued a $28.00 target price on shares of Aaron’s, in a research report on Sunday, April 23rd. Finally, BidaskClub cut Aaron’s, from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 7th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Aaron’s, presently has an average rating of “Buy” and an average price target of $42.50.

Shares of Aaron’s, (NYSE:AAN) opened at 43.53 on Monday. Aaron’s, has a 52-week low of $22.37 and a 52-week high of $48.22. The stock has a market capitalization of $3.08 billion, a P/E ratio of 22.37 and a beta of 0.17. The firm’s 50-day moving average price is $41.89 and its 200-day moving average price is $34.98.

Aaron’s, (NYSE:AAN) last released its quarterly earnings data on Friday, July 28th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.10. The business had revenue of $815.60 million during the quarter, compared to analyst estimates of $786.12 million. Aaron’s, had a return on equity of 12.00% and a net margin of 4.36%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.59 EPS. Equities analysts forecast that Aaron’s, will post $2.56 earnings per share for the current fiscal year.

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

A number of institutional investors have recently bought and sold shares of the stock. Hillcrest Asset Management LLC raised its position in Aaron’s, by 8.0% in the first quarter. Hillcrest Asset Management LLC now owns 341,614 shares of the company’s stock valued at $10,160,000 after buying an additional 25,186 shares during the period. North Point Portfolio Managers Corp OH raised its position in Aaron’s, by 1.9% in the first quarter. North Point Portfolio Managers Corp OH now owns 266,254 shares of the company’s stock valued at $7,918,000 after buying an additional 4,870 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 valued at $128,000 after buying an additional 204 shares during the period. ProShare Advisors LLC raised its position in Aaron’s, by 15.0% in the first quarter. ProShare Advisors LLC now owns 239,415 shares of the company’s stock valued at $7,120,000 after buying an additional 31,309 shares during the period. Finally, Palisade Capital Management LLC NJ raised its position in Aaron’s, by 7.1% in the first quarter. Palisade Capital Management LLC NJ now owns 384,098 shares of the company’s stock valued at $11,423,000 after buying an additional 25,595 shares during the period. Institutional investors own 99.83% of the company’s stock.

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.

The Fly

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