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

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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

Apr 2015Stifel NicolausMaintainsBuy
Mar 2015Stephens & Co.Initiates Coverage onOverweight
Feb 2015Stifel NicolausMaintainsBuy

View More Analyst Ratings for AAN
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Downgrades Analyst Ratings


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