Zacks Investment Research Upgrades AAON (NASDAQ:AAON) to “Buy”

AAON (NASDAQ:AAON) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, March 20th. The firm presently has a $44.00 price objective on the construction company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 27.54% from the company’s current price.

According to Zacks, “Aaon Inc. is a manufacturer of air-conditioning and heating equipment consisting of rooftop units, chillers, air-handling units, condensing units and coils. Its products serve the new construction and replacement markets. The Company has successfully gained market share through its semi-custom product lines, which offer the customer value, quality, function, serviceability and efficiency. “

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Separately, BidaskClub cut shares of AAON from a “hold” rating to a “sell” rating in a research note on Friday, January 19th.

NASDAQ AAON traded up $0.05 during trading hours on Tuesday, hitting $34.50. 140,688 shares of the company’s stock traded hands, compared to its average volume of 201,186. AAON has a 52-week low of $29.95 and a 52-week high of $40.25. The stock has a market cap of $1,811.45, a PE ratio of 36.26, a P/E/G ratio of 1.73 and a beta of 0.77.

AAON (NASDAQ:AAON) last announced its quarterly earnings data on Tuesday, February 27th. The construction company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.02). AAON had a net margin of 13.45% and a return on equity of 22.34%. The business had revenue of $104.16 million for the quarter, compared to analysts’ expectations of $108.00 million. research analysts anticipate that AAON will post 1.33 earnings per share for the current fiscal year.

In other news, VP Sam Neale sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $38.38, for a total value of $191,900.00. Following the completion of the sale, the vice president now owns 33,528 shares of the company’s stock, valued at approximately $1,286,804.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 22.25% of the company’s stock.

Several institutional investors have recently bought and sold shares of AAON. Nationwide Fund Advisors grew its stake in shares of AAON by 17.8% in the 3rd quarter. Nationwide Fund Advisors now owns 285,313 shares of the construction company’s stock valued at $9,836,000 after buying an additional 43,057 shares during the period. First Trust Advisors LP lifted its holdings in shares of AAON by 18.5% in the 3rd quarter. First Trust Advisors LP now owns 31,105 shares of the construction company’s stock worth $1,072,000 after acquiring an additional 4,853 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of AAON by 11.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 72,723 shares of the construction company’s stock worth $2,507,000 after acquiring an additional 7,321 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of AAON in the 3rd quarter worth approximately $341,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of AAON by 62.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 21,419 shares of the construction company’s stock worth $739,000 after acquiring an additional 8,209 shares during the last quarter. 69.54% of the stock is owned by institutional investors and hedge funds.

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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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