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Downgrade Alert for Aaron's (AAN)

By Nick Russo

Aaron's (NYSE:AAN) was downgraded from Outperform to Market Perform at Raymond James today. The stock closed yesterday at $38.12 on volume of 667,000 shares, above average daily volume of 616,000.

In the past 52 weeks, shares of Aaron's have traded between a low of $23.25 and a high of $40.06 and closed yesterday at $38.12, which is 64% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.5%.

There is potential upside of 7.9% for shares of Aaron's based on a current price of $38.12 and an average consensus analyst price target of $41.14. The stock should discover initial support at its 50-day moving average (MA) of $37.50 and subsequent support at its 200-day MA of $33.03.

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.

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

Ticker(s): AAN