Aaron's, Inc. (NYSE:AAN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, October 4th.

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. “

AAN has been the subject of several other research reports. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of Aaron's in a research note on Monday, July 31st. 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 note on Sunday, July 30th. KeyCorp raised Aaron's from a “sector weight” rating to an “overweight” rating and set a $50.00 target price for the company in a research note on Thursday, September 28th. Jefferies Group LLC restated a “buy” rating and set a $54.00 target price on shares of Aaron's in a report on Thursday, September 7th. Finally, Northcoast Research restated a “buy” rating and set a $52.50 target price (up previously from $45.00) on shares of Aaron's in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $45.36.

Aaron's (AAN) traded down 0.85% during midday trading on Wednesday, reaching $42.10. 351,766 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $42.51 and its 200 day moving average is $38.85. The stock has a market cap of $2.98 billion, a P/E ratio of 21.63 and a beta of 0.21. Aaron's has a 1-year low of $22.37 and a 1-year high of $48.22.

Aaron's (NYSE:AAN) last issued its quarterly earnings data on Friday, July 28th. The company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.10. The company 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 9.58% and a net margin of 4.45%. Aaron's’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.59 earnings per share. Equities analysts anticipate that Aaron's will post $2.55 earnings per share for the current fiscal year.

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In other news, CEO Ryan K. Woodley sold 6,776 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $44.30, for a total value of $300,176.80. Following the sale, the chief executive officer now directly owns 145,849 shares of the company’s stock, valued at $6,461,110.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Curtis Linn Doman sold 30,000 shares of the stock in a transaction on Friday, August 25th. The stock was sold at an average price of $43.35, for a total value of $1,300,500.00. Following the completion of the sale, the insider now directly owns 101,775 shares in the company, valued at $4,411,946.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,776 shares of company stock worth $2,742,507. Insiders own 1.93% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Aaron's by 13.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,649 shares of the company’s stock worth $103,000 after purchasing an additional 312 shares during the last quarter. LS Investment Advisors LLC boosted its position in Aaron's by 34.5% in the second quarter. LS Investment Advisors LLC now owns 2,659 shares of the company’s stock worth $103,000 after purchasing an additional 682 shares during the last quarter. Riverhead Capital Management LLC boosted its position in Aaron's by 70.9% in the second quarter. Riverhead Capital Management LLC now owns 3,930 shares of the company’s stock worth $153,000 after purchasing an additional 1,630 shares during the last quarter. Victory Capital Management Inc. boosted its position in Aaron's by 24.1% in the first quarter. Victory Capital Management Inc. now owns 4,003 shares of the company’s stock worth $119,000 after purchasing an additional 778 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in Aaron's by 29.5% in the first quarter. Bank of Montreal Can now owns 4,219 shares of the company’s stock worth $126,000 after purchasing an additional 961 shares during the last quarter.

About Aaron's

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.

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