AAON (NASDAQ:AAON) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of AAON from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Tuesday, March 20th. DA Davidson set a $32.00 price target on shares of AAON and gave the stock a “hold” rating in a research note on Friday, May 4th. Finally, ValuEngine upgraded shares of AAON from a “strong sell” rating to a “sell” rating in a research note on Friday, May 18th.
Shares of AAON stock traded up $0.30 on Monday, hitting $33.60. 174,000 shares of the company’s stock were exchanged, compared to its average volume of 233,174. The stock has a market capitalization of $1.74 billion, a PE ratio of 35.37, a P/E/G ratio of 2.81 and a beta of 0.71. AAON has a 1 year low of $29.05 and a 1 year high of $40.25.
AAON (NASDAQ:AAON) last issued its quarterly earnings results on Thursday, May 3rd. The construction company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.17). The business had revenue of $99.08 million for the quarter, compared to analysts’ expectations of $94.12 million. AAON had a return on equity of 19.09% and a net margin of 11.61%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 EPS. equities research analysts expect that AAON will post 0.79 EPS for the current fiscal year.
In other news, CEO Norman H. Asbjornson bought 8,000 shares of the stock in a transaction that occurred on Wednesday, May 16th. The shares were bought at an average price of $29.67 per share, for a total transaction of $237,360.00. Following the purchase, the chief executive officer now owns 9,130,225 shares in the company, valued at $270,893,775.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott M. Asbjornson sold 3,912 shares of AAON stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $33.13, for a total transaction of $129,604.56. Following the transaction, the vice president now owns 858,407 shares in the company, valued at approximately $28,439,023.91. The disclosure for this sale can be found here. Company insiders own 22.20% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its stake in shares of AAON by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 309,465 shares of the construction company’s stock valued at $12,069,000 after buying an additional 7,136 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of AAON during the 1st quarter valued at $408,000. Wesbanco Bank Inc. purchased a new position in shares of AAON during the 1st quarter valued at $1,754,000. Royal Bank of Canada lifted its stake in shares of AAON by 16.7% during the 1st quarter. Royal Bank of Canada now owns 22,998 shares of the construction company’s stock valued at $897,000 after buying an additional 3,292 shares in the last quarter. Finally, Mariner LLC purchased a new position in shares of AAON during the 1st quarter valued at $202,000. Institutional investors own 69.07% of the company’s stock.
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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