AAON (NASDAQ:AAON) Upgraded to “Hold” at StockNews.com

AAON (NASDAQ:AAON) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

AAON has been the subject of a number of other research reports. Robert W. Baird lifted their price target on AAON from $100.00 to $102.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. DA Davidson reiterated a “buy” rating and set a $102.00 target price on shares of AAON in a research report on Wednesday, June 26th. Finally, Baird R W raised shares of AAON to a “hold” rating in a report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $102.00.

AAON Price Performance

NASDAQ AAON traded up $1.60 on Friday, hitting $104.05. The stock had a trading volume of 1,385,932 shares, compared to its average volume of 646,406. The firm has a 50-day moving average of $90.43 and a 200-day moving average of $85.22. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.70 and a current ratio of 2.99. AAON has a 52-week low of $52.24 and a 52-week high of $104.73. The company has a market capitalization of $8.55 billion, a price-to-earnings ratio of 48.40 and a beta of 0.80.

AAON (NASDAQ:AAON) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. AAON had a return on equity of 26.02% and a net margin of 15.60%. The company had revenue of $313.57 million for the quarter, compared to the consensus estimate of $283.77 million. During the same quarter last year, the business posted $0.55 earnings per share. The firm’s revenue was up 10.4% compared to the same quarter last year. Equities analysts expect that AAON will post 2.29 EPS for the current year.

Insider Buying and Selling

In other AAON news, Director Norman H. Asbjornson sold 11,022 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $87.41, for a total transaction of $963,433.02. Following the transaction, the director now directly owns 5,135 shares in the company, valued at $448,850.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Stephen E. Wakefield sold 29,946 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $90.13, for a total transaction of $2,699,032.98. Following the transaction, the vice president now directly owns 15,670 shares of the company’s stock, valued at $1,412,337.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Norman H. Asbjornson sold 11,022 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $87.41, for a total value of $963,433.02. Following the completion of the sale, the director now directly owns 5,135 shares of the company’s stock, valued at approximately $448,850.35. The disclosure for this sale can be found here. Insiders sold 61,609 shares of company stock worth $5,441,927 in the last quarter. 18.55% of the stock is owned by insiders.

Hedge Funds Weigh In On AAON

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Ascent Wealth Partners LLC boosted its stake in shares of AAON by 1.1% during the second quarter. Ascent Wealth Partners LLC now owns 16,692 shares of the construction company’s stock valued at $1,456,000 after purchasing an additional 178 shares during the period. GAMMA Investing LLC boosted its position in AAON by 35.6% during the 1st quarter. GAMMA Investing LLC now owns 690 shares of the construction company’s stock valued at $61,000 after buying an additional 181 shares during the period. Signaturefd LLC boosted its position in AAON by 63.5% during the 2nd quarter. Signaturefd LLC now owns 613 shares of the construction company’s stock valued at $53,000 after buying an additional 238 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in AAON by 3.8% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 6,963 shares of the construction company’s stock worth $514,000 after acquiring an additional 257 shares during the last quarter. Finally, ORG Partners LLC purchased a new position in shares of AAON in the second quarter valued at about $29,000. 70.81% of the stock is currently owned by institutional investors.

About AAON

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.