Why Aaron's Stock Is Trading Higher Today

Aaron's, Inc. (NYSE: AAN) shares are trading higher after Stifel maintained a Buy rating on the company's stock and lowered the price target from $67 to $29.

"The Progressive business has developed a sophisticated decision model based on a lengthy history of payment behavior from consumers," said Stifel analyst John Baugh. "We believe the ultimate penetration of rent-to-own at retail is still in the early phases as retailers become more familiar with the platform."

Aaron's is a retailer of furniture and consumer electronics. The company operates retail stores that engage in the lease ownership and retail sale of televisions, computers, tablets, mobile phones, furniture, mattresses, washers, dryers, and refrigerators

Aaron’s shares were trading up 28.82% at $20.25 on Tuesday. The stock has a 52-week high of $78.65 and a 52-week low of $13.01.