Aaron's (AAN) shares surged 33.4% after agreeing to be acquired by IQVentures

From Nasdaq: 2024-06-18 10:04:00

Aaron’s Company, Inc. (AAN) shares surged 33.4% to $10.06 after agreeing to be acquired by IQVentures for $10.10 per share, totaling $504 million. Expected to close by end of 2024, AAN will remain headquartered in Atlanta, GA and operate under its current brand name as a privately-held company.

AAN anticipates quarterly earnings of $0.02 per share, a -94.9% YoY change, with revenues expected at $508.41 million, down 4.1%. Earnings estimate revisions for AAN have been trending lower by 40% over the last 30 days, leading to a Zacks Rank #3 (Hold) for the stock in the Zacks Consumer Services – Miscellaneous industry.

Mister Car Wash (MCW) also saw gains, closing 2.4% higher at $7.40. With a Zacks Rank #3 (Hold) and an unchanged EPS estimate of $0.09, MCW is positioned to release upcoming earnings reports, indicating potential stock price movements and market trends. Download Zacks’ Special Report for 5 stock opportunities before the 2024 elections.



Read more at Nasdaq: Aaron’s (AAN) Surges 33.4%: Is This an Indication of Further Gains?