Market Overview

UPDATE: Canaccord Genuity Downgrades Aaron's to Hold on Valuation, Weakening Trends

Related AAN
Top 4 NYSE Stocks In The Rental & Leasing Services Industry With The Highest ROI
Earnings Scheduled For July 25, 2014

Canaccord Genuity downgraded Aaron's (NYSE: AAN) from Buy to Hold and lowered the price target from $34.00 to $30.00.

Canaccord Genuity noted, "We are downgrading shares of AAN from Buy to HOLD ahead of the company's Q4 earnings release as we believe the core rent-to-own industry remains pressured. … In our view, AAN lacks a clear growth catalyst comparable to RCII's kiosks. AAN's store base is growing at an annual rate of 5% vs. the specialty retail group's average of +6%, and ancillary concepts are still in the infant stages. We believe shares are fairly valued at 13x our 2013 EPS estimate and 7x 2013E EV/EBITDA."

Aaron's closed at $29.85 on Wednesday.

Latest Ratings for AAN

DateFirmActionFromTo
Jul 2014Stifel NicolausMaintainsBuy
Jul 2014Stifel NicolausMaintainsBuy
May 2014Stifel NicolausUpgradesHoldBuy

View More Analyst Ratings for AAN
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Downgrades Analyst Ratings

 

Related Articles (AAN)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters