AAON (NASDAQ:AAON) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday, BidAskClub reports.
AAON has been the topic of a number of other research reports. Zacks Investment Research cut AAON from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. TheStreet cut AAON from a “b+” rating to a “c” rating in a research note on Thursday, May 9th. Finally, DA Davidson cut AAON from a “neutral” rating to an “underperform” rating and set a $35.00 price objective on the stock. in a research note on Monday, May 6th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the company. AAON currently has a consensus rating of “Hold” and an average price target of $40.50.
AAON stock traded down $0.66 during midday trading on Tuesday, reaching $47.98. The stock had a trading volume of 3,777 shares, compared to its average volume of 129,616. AAON has a twelve month low of $31.55 and a twelve month high of $52.50. The stock has a market capitalization of $2.55 billion, a P/E ratio of 59.22, a PEG ratio of 2.54 and a beta of 0.97.
AAON (NASDAQ:AAON) last issued its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.02). The company had revenue of $113.82 million for the quarter, compared to analyst estimates of $109.92 million. AAON had a return on equity of 19.79% and a net margin of 10.97%. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.08 EPS. As a group, analysts predict that AAON will post 1.28 EPS for the current fiscal year.
In other news, CFO Scott M. Asbjornson sold 3,824 shares of AAON stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $48.83, for a total transaction of $186,725.92. Following the sale, the chief financial officer now directly owns 856,247 shares of the company’s stock, valued at $41,810,541.01. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Stephen E. Wakefield sold 1,118 shares of AAON stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $47.83, for a total value of $53,473.94. Following the sale, the vice president now directly owns 6,878 shares in the company, valued at $328,974.74. The disclosure for this sale can be found here. 22.24% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Texas Permanent School Fund lifted its position in AAON by 3.7% in the fourth quarter. Texas Permanent School Fund now owns 26,590 shares of the construction company’s stock worth $932,000 after purchasing an additional 939 shares during the period. Citigroup Inc. raised its position in AAON by 5.6% in the fourth quarter. Citigroup Inc. now owns 32,271 shares of the construction company’s stock worth $1,131,000 after purchasing an additional 1,723 shares in the last quarter. Stifel Financial Corp raised its position in AAON by 25.7% in the fourth quarter. Stifel Financial Corp now owns 41,912 shares of the construction company’s stock worth $1,454,000 after purchasing an additional 8,576 shares in the last quarter. Piedmont Investment Advisors Inc. raised its position in AAON by 5.6% in the first quarter. Piedmont Investment Advisors Inc. now owns 10,219 shares of the construction company’s stock worth $472,000 after purchasing an additional 538 shares in the last quarter. Finally, Allied Investment Advisors LLC acquired a new position in AAON in the first quarter worth about $1,849,000. 72.68% of the stock is currently owned by institutional investors and hedge funds.
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.
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