AAON (AAON) Downgraded by BidaskClub to “Strong Sell”

BidaskClub downgraded shares of AAON (NASDAQ:AAON) from a sell rating to a strong sell rating in a research report released on Tuesday morning.

Several other research firms have also commented on AAON. ValuEngine raised AAON from a sell rating to a hold rating in a report on Thursday, July 5th. Zacks Investment Research raised AAON from a hold rating to a buy rating and set a $43.00 target price on the stock in a report on Wednesday, August 8th.

Shares of AAON stock opened at $32.21 on Tuesday. The stock has a market capitalization of $1.71 billion, a PE ratio of 33.91, a PEG ratio of 2.50 and a beta of 0.88. AAON has a fifty-two week low of $29.05 and a fifty-two week high of $43.30.

AAON (NASDAQ:AAON) last announced its quarterly earnings data on Thursday, August 2nd. The construction company reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. The business had revenue of $109.59 million for the quarter, compared to analyst estimates of $117.69 million. AAON had a return on equity of 17.78% and a net margin of 10.89%. The company’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 earnings per share. Sell-side analysts anticipate that AAON will post 0.87 EPS for the current fiscal year.

In related news, CAO Rebecca Thompson sold 5,533 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $42.69, for a total transaction of $236,203.77. Following the sale, the chief accounting officer now directly owns 12,196 shares of the company’s stock, valued at $520,647.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Gary D. Fields sold 1,600 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $38.70, for a total value of $61,920.00. Following the sale, the president now directly owns 25,343 shares in the company, valued at $980,774.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,984 shares of company stock worth $534,797. 22.20% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC acquired a new stake in AAON in the third quarter valued at approximately $113,000. Mariner LLC acquired a new stake in AAON in the first quarter valued at approximately $202,000. Atria Investments LLC acquired a new stake in AAON in the second quarter valued at approximately $262,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in AAON in the second quarter valued at approximately $284,000. Finally, OppenheimerFunds Inc. grew its holdings in AAON by 32.5% in the second quarter. OppenheimerFunds Inc. now owns 8,568 shares of the construction company’s stock valued at $285,000 after purchasing an additional 2,101 shares during the period. 71.87% of the stock is currently owned by hedge funds and other institutional investors.

AAON Company Profile

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. It offers rooftop units, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, self-contained units, and coils.

See Also: Price to Earnings Ratio (PE) Basics

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