AAON (NASDAQ:AAON) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research upgraded AAON from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Wednesday, August 8th. ValuEngine upgraded AAON from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd.
Shares of AAON stock traded down $0.60 during trading hours on Wednesday, reaching $37.62. 3,366 shares of the company traded hands, compared to its average volume of 169,893. AAON has a 12-month low of $29.05 and a 12-month high of $43.30. The stock has a market cap of $1.80 billion, a P/E ratio of 39.66, a PEG ratio of 2.63 and a beta of 0.88.
AAON (NASDAQ:AAON) last posted its quarterly earnings results on Thursday, November 1st. The construction company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.03). The business had revenue of $112.93 million during the quarter, compared to analysts’ expectations of $130.58 million. AAON had a return on equity of 17.78% and a net margin of 10.89%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 earnings per share. As a group, equities analysts forecast that AAON will post 0.87 earnings per share for the current year.
In other AAON news, CAO Rebecca Thompson sold 5,533 shares of the firm’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $42.69, for a total transaction of $236,203.77. Following the completion of the sale, the chief accounting officer now owns 12,196 shares of the company’s stock, valued at $520,647.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Gary D. Fields sold 1,600 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $980,774.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,984 shares of company stock worth $534,797. Company insiders own 22.20% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AAON. Rhumbline Advisers lifted its holdings in AAON by 1.4% during the 2nd quarter. Rhumbline Advisers now owns 102,684 shares of the construction company’s stock worth $3,414,000 after buying an additional 1,453 shares during the last quarter. Congress Asset Management Co. MA raised its stake in AAON by 9.5% during the 2nd quarter. Congress Asset Management Co. MA now owns 84,048 shares of the construction company’s stock valued at $2,795,000 after acquiring an additional 7,280 shares during the last quarter. Intrinsic Edge Capital Management LLC purchased a new stake in AAON during the 2nd quarter valued at approximately $4,277,000. Schwab Charles Investment Management Inc. raised its stake in AAON by 15.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 233,078 shares of the construction company’s stock valued at $7,750,000 after acquiring an additional 30,800 shares during the last quarter. Finally, Brown Advisory Inc. purchased a new stake in AAON during the 2nd quarter valued at approximately $2,684,000. 71.82% of the stock is owned by hedge funds and other institutional investors.
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.
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