Downgrade Alert for Aaron's (AAN)
Aaron's (NYSE:AAN) was downgraded from Buy to Hold at Canaccord Genuity today. The stock closed yesterday at $29.72 on volume of 225,000 shares, below average daily volume of 369,000.
In the past 52 weeks, shares of Aaron's have traded between a low of $24.57 and a high of $32.53 and closed yesterday at $29.85, which is 21% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.2%.
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.
Aaron's has overhead space with shares priced $29.85, or 14.7% below the average consensus analyst price target of $35.00. The stock should discover initial support at its 50-day moving average (MA) of $28.97 and subsequent support at its 200-day MA of $28.43.
SmarTrend is tracking the current trend status for Aaron's and will alert subscribers who have AAN in their portfolio or watchlist when shares have changed trend direction.
Keywords: analyst upgrades/downgrades aaron's