Downgrade Alert for Aaron's (AAN)
Aaron's (NYSE:AAN) was downgraded from Buy to Hold at Stifel today. The stock closed yesterday at $27.45 on volume of 1.6 million shares, above average daily volume of 485,000.
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 share prices have moved between a 52-week high of $32.53 and a 52-week low of $24.61 and closed yesterday at 12% above that low price at $27.45 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.5%.
There is potential upside of 18.0% for shares of Aaron's based on a current price of $27.45 and an average consensus analyst price target of $32.40. The stock should run into initial resistance at its 50-day moving average (MA) of $28.00 and subsequent resistance at its 200-day MA of $28.42.
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