Aaron’s Inc (NYSE:AAN) Curt Doman Promoted as Board of Directors

[PRNewswire] Aaron’s Inc (NYSE:AAN)(TREND ANALYSIS) announced that Curt Doman, Chief Technology Officer and Co-Founder of Progressive Leasing, has been appointed to the Aaron’s, Inc. Board of Directors. The Company also announced that David Kolb and Brian Kahn are departing the Board.

Ray Robinson, Chairman of Aaron’s, Inc. Board of Directors, said that Doman’s entrepreneurial experience and vision will be a strong addition to the Board. “Curt pioneered the virtual lease-to-own business with the co-founding of Progressive Leasing in 1999,” Robinson said. “He has a deep understanding of technology, and he’s used that to bring innovation to businesses that serve credit-constrained customers. Curt built the proprietary systems that form the core of Progressive, and his leadership helped grow it into the premier virtual lease-to-own company,” said Robinson.

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Aaron’s Inc (NYSE:AAN) stock is currently trading 4.89% below its 52-week-high, 59.78% above its 52-week-low. The 1-year stock price history is in the range of $23.25 – $39.06. Aaron’s Inc (AAN) has a price to earnings ratio of 22.23 versus Services sector average of 19.39. AAN stock price has outperformed the S&P 500 by 20%. The Rental Auto & Equipment company is currently valued at $2.7 billion and its share price closed the last trading session at $37.15. The stock has a 50-day moving average of $36.52 and a 200-day moving average of $32.9.

Aaron’s Inc (AAN) current short interest stands at 3.37 million shares. It has increased by 9% from the same period of last month. Around 6% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.53 million shares, the number of days required to cover the short positions stand at 6.4 days.

AAN reported last quarter earnings on July 24. The Rental Auto & Equipment company announced earnings per share of $0.61 against a consensus Street estimate of $0.46, beating the average estimate by $0.15. This corresponds to a decrease of $0.07 compared to the same quarter of the previous fiscal year.

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There are currently eight analysts that cover Aaron’s Inc stock. Of those eight, five have a Buy rating, three have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $41.14.

A recent analyst activity consisted of SunTrust Robinson Humphrey reiterating their Neutral stance on July 27. SunTrust Robinson Humphrey increased their price target on AAN from $37 to $40. This corresponds to a 7.67% upside from the last closing price. On the date of report, the stock closed at $33.93.

KeyBanc reiterated their Overweight stance on June 23, and increased their price target on AAN stock from $40 to $43. This corresponds to a 15.75% upside from the last closing price. On the date of report, the stock closed at $36.85.

Another research firm was Stifel Nicolaus who reiterated their Buy stance on April 27. Stifel Nicolaus increased their price target on Aaron’s Inc from $38 to $45. This translates to a 21.13% upside from the last closing price. On the date of report, the stock closed at $33.62.

Company profile

Aaron’s, Inc. rents and sells office and residential furniture and accessories, consumer electronics, and household appliances. The Company also manufactures furniture, bedding, and accessories. Aaron’s has Company-owned and franchised centers in the United States.

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