08-12-2017: Aaron's, Inc. (AAN): Home Goods Buy or Lease

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Recommendation

Aaron's, Inc.

Aaron's, Inc. (AAN) could be alternately described as a furniture rental place, (lease, with option to buy), or a consumer finance agency. Its main source of revenue however is selling consumer electronics in competition with the likes of Best Buy. Founded in 1955, in grew under its founder to more than 2,000 stores nationwide. We could not find a map of all locations on one map, but throughout the U.S. it would take about 13 Google maps to cover it all. Some outlets work in conjunction with others, like Sears or Target.

This is still a growth stock, with a buy and hold pattern of late. The stock chart looks a bit congested near the top as if forming a top. The company is fundamentally strong, has a strong Zenith Index. One researcher cites a cash flow problem, but we did not see it. Researchers are generally positive, with Standard & Poor's giving the stock its five-star top rating. Institutions are net sellers in this "late bull market" but Dimensional Fund Advisors is prominent among holders, which we regard as very positive.

There has been a spate of class action lawsuits recently against the company. That relates to a software glitch in the company's Progressive Leasing Division, which lost critical data making it unable to make lease qualification determinations and collect payments. The suits claim management failed to disclose this information to shareholders in a timely manner. However, Progress did net $1.2 billion in revenues in 2016. The company recently had as many as 1.6 million customers.

The company has been doing a lot of aggressive hiring and expansion. We did note that GMI Analyst did not like company accounting and labeled the stock very risky for that reason. New Constructs reports attractive "economic earnings" which are, however, well below "reported earnings."

The company recently acquired its largest franchisee in an all cash deal. Probably the main thing holding it back at the moment are the number of law firms jumping on the class action suit bandwagon and occupying much of the news on the stock. 



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Zenith Index

Under current market conditions, a Zenith Index Score of 1.20 or above is required for a positive rating on this factor. 1.21 -1.30 is considered acceptable, 1.30-1.40 is considered strong and
> 1.40 is considered exceptionally strong. Accounting statements in this section often contain mistakes, especially in earlier years' totals, but data is deemed sufficient for us to give a rating. More accurate financial statements follow in the next section.

Aaron's, Inc.                                             Exchange: NYSE
400 Galleria Pkwy SE Ste 300
ATLANTA, GA 30339-3182             Sector: Cyclical Consumer Goods & Service
                                 Industry: Computer & Electronics Retailer

Aaron's, Inc. (Aaron's) is an omnichannel provider of lease-purchase
solutions. The Company engages in the sales and lease ownership and
specialty retailing of furniture, consumer electronics, home appliances
and accessories through its Company-operated and franchised stores in
Canada, as well as its e-commerce platform, Aarons.com. Its segments
include Sales and Lease Ownership, Progressive Finance Holdings, LLC
(Progressive), Dent-A-Med, Inc., doing business as the HELPcard (DAMI),
Franchise and Manufacturing. Its stores carry brands, such as Samsung,
Frigidaire, Hewlett-Packard, LG, Whirlpool, Simmons, Philips, Ashley and
Magnavox. As of December 31, 2016, it had 1,864 Aaron's stores,
consisted of 1,165 Company-operated stores in 28 states, the District of
Columbia and Canada, and 699 independently-owned franchised stores in 46
states and Canada. It owns trademarks and trade names used in business,
including Progressive, Dent-A-Med, the HELPcard and Woodhaven Furniture
Industries.

Last Trade:     46.38                         52-Week Range:  22.37 -  48.22
Employees:     11,500                         Avg.Volume:     999,211 Shares
EPS:  1.94    Dividend Amount: $ 0.03                 Yield:   0.24%
                                               Payout Ratio:   0.05
Key Statistics:

    Trailing P/E:  23.65                          Shares Out:     70,730,000
                                                    Beta:   0.17

          Book Value:  20.95                            Debt/Equity:   0.34%
    Price/Book Value:   2.21                          Profit Margin:   4.45%
         Price/Sales:   1.01                Operating Profit Margin:   7.48%
          Market Cap:   3,250,000,000              Return on Equity:   9.58%
               Value:   3,439,274,752$             Return on Assets:   5.64%

    Operating Cash Flow:        465,442     Percent Institutional: 104%
         Free Cash Flow:        371,022     Next Earn Rpt. Date: Oct 26, 2017



Annual Income Statement:                          (All numbers in thousands)
  Period Ending                             2016-12-31  2015-12-31  2014-12-31

  Total Revenue                              3,207,723   3,179,763   2,695,032
  Cost of Revenue                              295,194     372,824     354,604
  Gross Profit                               1,872,730   2,806,939           0

Operating Expenses:
  Selling, General & Administrative                  0           0           0
  Research & Development                             0           0           0
  Depreciation/Amortization                  1,386,691   1,292,841   1,018,236
  Interest Expense(Income)                           0           0           0
  Unusual Expense (Income)                      13,771       1,324      36,163
  Other Operating Expenses                   1,269,381   1,276,831   1,146,201
  Total Operating Expense                    2,965,043   2,943,823   2,555,192

Income from Continuing Operations:
  Operating Income                             242,682     235,941     139,842

Other Income
  Interest Income(Expense)                           0           0           0
  Gain (Loss) on Sale of Assets                      0           0           0
  Other, Net                                    -3,560      -1,670      -1,840

  Income After Taxes                           139,281     135,718      78,231
  Minority Interest                                  0           0           0
  Equity in Affiliates                               0           0           0
Extraordinary Items
  Accounting Change                                  0           0           0
  Discontinued Operations                            0           0           0
  Extraordinary Items                                0           0           0
  Preferred Dividends                                0           0           0
Net Income Avail to Common Shares              139,281     135,718      78,231
  Dilution Adjustment                                0           0           0
  Diluted Average Weighted Shares               73,017      73,047      72,728
  Diluted EPS Excl. Extraordinary Items           1.91        1.86        1.08
  Dividends per share                             0.10        0.09        0.09
  Diluted Normalized Earnings per Share           2.03        1.87        1.40



Annual Balance Sheets:                              (All Numbers in Thousands)
  Period Ending                          2016-12-31    2015-12-31    2014-12-31
Current Assets:
  Cash & Cash Equivalents                   308,561        14,943         3,552
  Accounts Receivable, Trade                 95,781       113,441       107,387
  Receivables, Other                              0             0             0
  Net Receivables                            95,781       113,441       107,387
  Inventory                                       0             0             0
  Prepaid Expenses                          109,141       102,756        59,566
  Other Current Assets                            0             0             0

  Total Current Assets                      513,484       231,140       170,505

  Property, Plant & Equipt                2,184,942     1,877,604       435,484
  Accumulated Depreciation/Amort.          -974,280      -738,660      -216,060
  Goodwill                                  526,725       539,485       530,672
  Intangible Assets                         247,673       275,913       297,473
  Long-Term Investments                      20,522        22,232        21,311
  Other Assets                                    0        -6,362         6,362

Total Assets                              2,615,743     2,698,493     2,456,842

Current Liabilities:
  Accounts Payable                                0             0             0
  Accrued Expenses                                4         4,743        27,203
  Notes Payable                              47,300             3       300,000
  Current Port. of LT Debt/Leases                 0             0             0
  Other Current Liabilities                  62,437        69,236        61,075
  Total Current Liabilities                 109,741        73,982        388,277
  Long Term Debt other than lease           444,166       606,752       225,121
  Capital Lease Obligations                   6,360       -11,841        11,841
  Total Long Term Debt                      450,536       606,752       236,971
  Deferred Income Tax                       276,123       307,483       268,552
  Minority Interest                               0             0             0
  Other Liabilities                               0       -69,120        69,120

Total Liabilities                         1,134,141     1,331,871     1,233,327

Stockholder Equity:
  Redeemable Preferred Stock                109,141       102,756        59,566
  Non-Redeemable Preferred Stock             47,300             3       300,000
  Common Stock                               45,385        45,385        45,385
  Additonal Paid-In Capital                 254,512       240,112       227,292
  Retained Earnings                       1,534,981     1,403,121     1,274,230
  Treasury Stock                           -352,740      -321,470      -323,290
  Other Stockhohlder Equity                    -530          -520           -90

  Total Stockholder Equity                1,481,601     1,366,621     1,223,521

Total Liabilities & Shares Equity         2,615,743     2,698,493     2,456,840



Annual Cash Flow Statement:                   (All numbers in thousands)
  Period Ending                         2016-12-31    2015-12-31    2014-12-31

  Net Income / Starting Line               139,281       135,718        78,231

Operating Activities:
  Depreciation                           1,386,671     1,292,851     1,018,237
  Amortization                                   0             0             0
  Deferred Taxes                           -35,164        38,970        -7,160
  Non-Cash Items                          -980,960    -1,086,880      -898,640
  Changes in Inventories                   -20,080      -108,850      -635,520
  Changes in Working Capital               -44,390      -213,880      -239,634

Total Cash Flow f Operations               465,442       166,760       -48,963

Investing Activities:
  Capital Exenditures                      -57,450       -60,560       -47,560
  Other Cash Flows fr Investing             37,370       -48,290      -587,960

Total Cash Flows from Investing            -20,080      -108,850      -635,520

Financing Activities:
  Financing Cash Flow Items                   -800           -80        -2,971
  Dividends Paid                            -7,420        -6,820        -7,820
  Sale of Purchase of Stock                -33,981         1,044         4,390
  Issuance (Retirement) Debt              -109,680       -40,665       463,350

Total Cash Flows from Financing           -151,870       -46,525       456,940

  Effect of Exchange Rate Chg                  130             0             0

Change in Cash & Cash Equiv.               293,621        11,390      -227,541

  Cash Interest Paid, Supplemental                0             0             0
  Cash Taxes Paid, Supplemental                   0             0             0



Aaron's, Inc.                               [Indices near +3.0, near zero,
                                            or < zero bear special attention.]
P/E Ratio Tests:
P/E Ratio < 28?            1.1839          P/E Ratio > 5?             3.0000
P/E Ratio vs Growth Rate:  1.7033          Fwd P/E Ratio < 28?        1.0907
Price/Sales Ratio < 2.3?   2.2701          Inventory/Sales < 5%?      1.0000
Sales < $1 Billion?        0.3117          Operating Margin > 7.5%?   0.9973

Balance Sheet Tests:
Debt/Equity < 0.40?        1.1904          Long-Term Debt Service:    3.0000
LTD Being Reduced?        -1.0000          Short-Term Debt Service:   3.0000
Current Ratio > 2?         1.1532          Working Capital >= 1.5?    0.3206
Fin'l Leverage Ratio > 2?  0.8827          Debt/Assets < 1?           3.0000
Quick Ratio > 1?           3.0000          Inventory Turnover > 15?   1.2000
Share Equity Incr. > 7%?   1.8711          Market Cap.< 1.5 Billion?  0.4615
                                           Intangibles < 3% Assets?   0.1013
Income Tests:
Profit Margin < 7.5%?      0.5933          EPS 4-yr Growth > 15%?     0.1300
Dividend Yield > 2.0%?     3.0000          Return on Equity > 4%?     2.3950
Enterprise Value/Revenue:  1.0722          EPS Growth Consistent?     1.0000
Enterprise Value/EBITDA:   3.0000          Collection < 45 days?      3.0000
Annual Rev. Growth > 15%?  0.1487          Gross Pft/Cur. LTD > 1?    3.0000
                                           Borrowing Int. Rate < 6%?  1.0000
Stock Performance Tests:
Volatility > 25%?          2.1443          Price/Book Value < 3?      1.3551
Beta > 1.25?               0.1360          Return on Assets > 17%?    0.3318
Sh. Price > 252 Da Range?  3.0000          Treasury Stock > 10%?     -0.0001
52-Wk Change > 1.5?        2.1462          Average Volume > 200,000?  3.0000

Cash Flow Tests:
Oper. C.F. > Lever'd C.F:  1.2545          Positive Free Cash Flow?   1.0000
Positive Oper. Cash Flow?  1.0000          Price to C.F.Ratio < 14?:  1.5982
                                           Cash Flow / Assets > 10%?  0.0142

AAN    Aaron's, Inc.                       Overall Zenith Index:      1.4164


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Financial Statements

AARON'S INC  (AAN)                          INCOME STATEMENT

Fiscal year ends in December.                        2012-12         2013-12         2014-12         2015-12         2016-12             TTM           

Revenue                                        2,222,587,904   2,234,630,912   2,725,239,040   3,179,756,032   3,207,716,096   3,224,133,888
Cost of revenue                                  411,076,000     361,899,008     354,598,016     372,816,992     295,188,000     282,096,000
Gross profit                                   1,811,512,064   1,872,732,032   2,370,640,896   2,806,938,880   2,912,527,872   2,942,038,016


Operating expenses
Sales, General and administrative                962,656,000   1,027,601,024   1,291,399,936   1,357,030,016   1,351,784,960   1,318,766,976
Restructuring, merger and acquisition                      0               0       9,140,000               0      20,218,000      33,990,000
Other operating expenses                         569,150,016     658,073,024     930,257,984   1,213,968,000   1,297,848,960   1,353,241,984
Total operating expenses                       1,531,805,952   1,685,673,984   2,230,798,080   2,570,998,016   2,669,851,904   2,705,999,104

Operating income                                 279,705,984     187,058,000     139,843,008     235,940,992     242,676,000     236,039,008
Interest Expense                                   6,392,000       5,613,000      19,215,000      23,339,000      23,390,000      22,541,000
Other income (expense)                             3,541,000       3,515,000       1,076,000         518,000        -864,000       3,690,000
Income before taxes                              276,855,008     184,960,000     121,704,000     213,120,000     218,422,000     217,188,000
Provision for income taxes                       103,812,000      64,294,000      43,471,000      77,411,000      79,139,000      76,458,000
Net income from continuing operations            173,043,008     120,666,000      78,233,000     135,708,992     139,283,008     140,730,000
Net income                                       173,043,008     120,666,000      78,233,000     135,708,992     139,283,008     140,730,000
Net income available to common shareholders      173,043,008     120,666,000      78,233,000     135,708,992     139,283,008     140,730,000

Earnings per share
Basic                                                   2.28            1.59            1.08            1.87            1.93            1.98 
Diluted                                                 2.25            1.58            1.08            1.86            1.91            1.95 

Weighted average shares outstanding
Basic                                             75,820,000      75,747,000      72,384,000      72,568,000      72,354,000      71,506,000
Diluted                                           76,826,000      76,390,000      72,723,000      73,043,000      73,013,000      72,409,000

____________________________________________________________________________________________________________________________________________


AARON'S INC  (AAN)                          BALANCE SHEET

Fiscal year ends in December.                        2012-12         2013-12         2014-12         2015-12         2016-12             

Assets

Current assets

Cash

Short-term investments                            85,861,000     112,391,000      21,311,000      22,226,000      20,519,000
Total cash                                       215,395,008     343,481,984      24,860,000      37,168,000     329,080,000

Receivables                                       74,157,000      68,684,000     107,383,000     113,439,000      95,777,000
Inventories                                      964,067,008     869,724,992   1,087,032,064   1,138,937,984     999,380,992
Other current assets                                       0               0               0      85,795,000      84,804,000
Total current assets                           1,253,618,944   1,281,890,944   1,219,275,008   1,375,340,032   1,509,042,048

Non-current assets

Property, plant and equipment
Gross property, plant and equipment              404,512,992     429,196,992     424,908,992     448,588,000     442,332,992
Accumulated Depreciation                        -173,915,008    -197,904,000    -216,064,992    -222,752,000    -231,062,000
Net property, plant and equipment                230,598,000     231,292,992     208,844,000     225,836,000     211,271,008

Goodwill                                         234,195,008     239,180,992     530,670,016     539,475,008     526,723,008
Intangible assets                                  6,026,000       3,535,000     297,471,008     275,912,000     247,672,000
Deferred income taxes                                      0               0               0               0       5,912,000
Other long-term assets                            88,491,000      71,276,000     200,584,000     242,312,000     115,116,000
Total non-current assets                         559,310,016     545,284,992   1,237,569,024   1,283,534,976   1,106,694,016

Total assets                                   1,812,929,024   1,827,175,936   2,456,844,032   2,658,874,880   2,615,736,064 

Liabilities and stockholders' equity

Liabilities

Current liabilities
Accounts payable                                           0               0               0               0      71,941,000
Deferred income taxes                            263,720,992     226,958,000     268,551,008     307,480,992     276,116,000
Accrued liabilities                                        0      28,400,000      27,200,000       4,737,000     193,966,000
Deferred revenues                                 46,022,000      45,241,000      61,069,000      69,233,000      62,427,000
Other current liabilities                        225,532,000     243,910,000     270,420,992     300,356,000      31,859,000
Total current liabilities                        535,275,008     544,508,992     627,241,024     681,806,976     636,308,992

Non-current liabilities
Long-term debt                                   141,528,000     128,250,000     606,081,984     610,449,984     497,828,992
Capital leases                                             0      14,454,000               0               0               0
Total non-current liabilities                    141,528,000     142,704,000     606,081,984     610,449,984     497,828,992

Total liabilities                                676,803,008     687,212,992   1,233,323,008   1,292,257,024   1,134,137,984 

Stockholders' equity

Common stock                                      45,376,000      45,376,000      45,376,000      45,376,000      45,376,000
Additional paid-in capital                       220,362,000     198,182,000     227,290,000     240,112,000     254,512,000
Retained earnings                              1,087,032,064   1,202,219,008   1,274,232,960   1,403,120,000   1,534,983,040
Treasury stock                                  -216,575,008    -305,750,016    -323,288,000    -321,472,992    -352,742,016
Accumulated other comprehensive income               -69,000         -64,000         -90,000        -517,000        -531,000
Total stockholders' equity                     1,136,125,952   1,139,963,008   1,223,521,024   1,366,617,984   1,481,597,952
Total liabilities and stockholders' equity     1,812,929,024   1,827,175,936   2,456,844,032   2,658,874,880   2,615,736,064

____________________________________________________________________________________________________________________________________________


AARON'S INC  (AAN)                          Statement of CASH FLOW

Fiscal year ends in December. USD.                   2012-12         2013-12         2014-12         2015-12         2016-12             TTM           

Cash Flows From Operating Activities
Net income                                       173,043,008     120,666,000      78,233,000     135,708,992     139,283,008     140,730,000
Depreciation & amortization                      661,433,024     685,105,024   1,018,233,984   1,292,846,976   1,386,673,024   1,423,143,936
Amortization of debt discount/premium and is               0               0               0        -269,000               0               0
Deferred income taxes                            -23,241,000     -36,763,000      -7,157,000      38,970,000     -35,162,000     -41,724,000
Stock based compensation                           6,454,000       2,342,000      10,863,000      14,163,000      21,470,000      22,729,000
Accounts receivable                              -18,528,000     -30,419,000    -110,269,000    -173,159,008    -149,826,000    -175,432,000
Inventory                                       -695,904,000    -538,398,976  -1,008,787,968  -1,264,822,016  -1,181,600,000  -1,305,337,984
Prepaid expenses                                  -9,263,000      -1,349,000      -5,332,000       3,964,000       1,229,000     -49,271,000
Accrued liabilities                              -41,720,000      28,400,000      -1,200,000     -22,463,000      -4,737,000               0
Other working capital                            -25,563,000      38,964,000    -125,043,000     -21,385,000     111,026,000      49,741,000
Other non-cash items                              33,043,000      39,890,000     101,497,000     163,206,000     177,088,000     190,990,000
Net cash provided by operating activities         59,754,000     308,436,992     -48,962,000     166,760,992     465,444,000     255,568,992

Cash Flows From Investing Activities
Investments in property, plant, and equipmen     -65,073,000     -58,145,000     -47,565,000     -60,557,000     -57,453,000     -53,320,000
Property, plant, and equipment reductions          6,790,000       6,841,000       6,032,000       7,515,000      19,393,000       8,192,000
Acquisitions, net                                -28,800,000      -8,735,000    -683,984,000     -59,319,000      26,137,000      -8,491,000
Purchases of investments                         -91,000,000     -74,845,000               0               0               0               0
Sales/Maturities of investments                  102,118,000      47,930,000      89,993,000               0               0               0
Other investing activities                                 0               0               0       3,511,000      -8,158,000     -12,980,000
Net cash used for investing activities           -75,965,000     -86,954,000    -635,523,968    -108,850,000     -20,081,000     -66,599,000

Cash Flows From Financing Activities
Debt issued                                       16,258,000       2,598,000     904,956,032     290,089,984      98,928,000      15,250,000
Debt repayment                                   -28,519,000      -4,954,000    -441,603,008    -330,747,008    -208,607,008    -108,404,000
Common stock repurchased                         -34,131,000    -125,000,000               0               0     -34,525,000     -68,827,000
Excess tax benefit from stock based compe          5,967,000       1,381,000               0               0               0               0
Dividend paid                                     -5,843,000      -3,875,000      -7,823,000      -6,822,000      -7,420,000      -7,687,000
Other financing activities                        15,756,000       9,924,000       1,414,000         961,000        -247,000      -1,390,000
Net cash provided by (used for) financing        -30,512,000    -119,926,000     456,944,000     -46,518,000    -151,871,008    -171,058,000

Effect of exchange rate changes                            0               0               0               0         127,000         184,000
Net change in cash                               -46,723,000     101,557,000    -227,542,000      11,393,000     293,619,008      18,096,000
Cash at beginning of period                      176,256,992     129,534,000     231,091,008       3,549,000      14,942,000     242,239,008
Cash at end of period                            129,534,000     231,091,008       3,549,000      14,942,000     308,560,992     260,335,008

Free Cash Flow
Operating cash flow                               59,754,000     308,436,992     -48,962,000     166,760,992     465,444,000     255,568,992
Capital expenditure                              -65,073,000     -58,145,000     -47,565,000     -60,557,000     -57,453,000     -53,320,000
Free cash flow                                    -5,319,000     250,292,000     -96,527,000     106,204,000     407,991,008     202,248,992
____________________________________________________________________________________________________________________________________________




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Average to Current P/E Ratios
              (AAN)     Aaron's Inc.

                               2012    2013    2014    2015    2016

          Annual Earnings:     2.25    1.58    1.08    1.86    1.91
Average Price During Year:    27.77   28.54   28.86   33.83   24.05

                P/E Ratio:    12.34   18.06   26.72   18.19   12.59

 Average 5-Year P/E Ratio  =  17.58
             Current Price =  44.8

Previous 5 Quarter Earnings:   0.53    0.40    0.30    0.74    0.51

           Current Annualized (Last Four Quarters) Earnings =  1.55
                                                           ________
                                 Average PE / Current PE =     0.61
                                                           --------

                                      ...a number above 1.00 is good
                                                1.00 or below is bad


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Financial Ratios

. . . . . . . . . . . . 1 = Highest , 10 = Lowest



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Market Grader

900
901 902 903 904 905 906 907 908 909 910



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Intrinsic Value (DCF)

Intrinsic Value by Discounted Cash Flow Method:

Intrinsic Value



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Book Value

Tangible Book Value:

Book Value



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Projected Earnings

Earnings Estimates
Earnings Estimates



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Research Reports

Click Here for Research Reports



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Analysts' Opinions

Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 2



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Insider Activity

Insiders Chart Insider Trades
Insider Trades
Executive Compensation Executive Compensation



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Institutional Activity

Institutional Orders to Buy or Sell:

institutions 1
Ownership:

institutions 2


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Sentiment

sentiment

Zenith uses the "sentiment" score above or below 50 to award a positive or negative point in the Decision Matrix.

sentiment sentiment sentiment



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Short Interest Ratio

As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.

short interest short interest


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Standard & Poor's

S&P Stock Report (Requires Adobe Acrobat Reader)



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Management's Discussion of Results of Operations Excerpts

Click Here for Management's Discussion Excerpts



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Moving Average Chart



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Right Time Study



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Channeling Potential

 
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility.  Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.

Results for AARON'S INC.:
Symbol? AAN
Total Months Available: 100
       Months in Cycle?   4

Months Covered by Periods:  12

Period 1           Period 2          Period 3
   H1      L1        H2      L2        H3      L3
  30.29   22.37     34.22   26.12     48.22   29.97

RANGE   =  48.22  TO   22.37            Close =  45.64
CHANNEL =  30.29  TO   29.97           Degree =   0
Volatility =   0.70%                    Index =   0
Channel Chart



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MACD Histogram Divergence

The theory is that connecting the two most recent peaks or valleys of the MACD histogram will signal the direction of the next major move.



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Intraday Chart

2 Days:



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Val Idea

4 out of 8 favorable, (neutral opinion.)

Val Idea


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Stock Consultant

Stock Consultant Stock Consultant



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Point & Figure Chart

P & F Chart


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Wall Street Analyzer



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Marketspace Chart

Marketspace Chart



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Time Series Forecast

Time Series 1 Time Series 2


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Neural Network Prediction

"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."

Neural Chart
Heading
Neural Trades Neural Prediction



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Ultimate Trading Systems

2 out of 3 of the ultimate systems favor an upmove.


System Below:
Short term outlook: Positive: Bright Green, Negative: Bright Red
Long term outlook: Postive: Dark Green, Negative: Dark Red.




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Recommendation

Decision Weighting Factors
FactorsWeighted Points
News + 1
Comparison - 1
Industry + 1
Bond Issue 0
Zenith Index + 1
Non-GAAP vs. GAAP Earnings - 1
Cash Flow + 1
Average to Current P/E - 1
Ratios + 1
Market Grader - 1
Intrinsic Value DCF + 1
Tangible Book Value - 1
Projected Earnings + 1
Research Reports + 1
Analysts + 1
Executive Perquisites - 1
Insider Activity - 1
Institutional Activity - 1
Management Reporting + 1
Short Interest - 1
Sentiment + 1
Standard & Poor's + 1
Moving Average + 1
Right Time Study - 1
MACD Histogram Divergence + 1
Val Idea 0
Stock Consultant - 1
Point & Figure + 1
Wall Street Analyzer - 1
Marketspace Chart + 1
Time Series Chart - 1
Neural Network - 1
Stock Options + 1
Ultimate Trading Systems + 1
Total + 4
Place 650 shares of Aaron's Inc. (AAN) on the Active List.