AAON (AAON) Downgraded by BidaskClub

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BidaskClub downgraded shares of AAON (NASDAQ:AAON) from a strong-buy rating to a buy rating in a report published on Tuesday morning.

Several other equities analysts also recently weighed in on the company. Zacks Investment Research upgraded AAON from a hold rating to a buy rating and set a $43.00 price target for the company in a report on Wednesday, August 8th. ValuEngine upgraded AAON from a hold rating to a buy rating in a report on Thursday, August 2nd. Finally, DA Davidson set a $32.00 price target on AAON and gave the company a hold rating in a report on Friday, May 4th.

Shares of NASDAQ:AAON opened at $40.75 on Tuesday. AAON has a 1-year low of $29.05 and a 1-year high of $43.30. The firm has a market cap of $2.12 billion, a PE ratio of 50.81, a P/E/G ratio of 3.11 and a beta of 0.82.

AAON (NASDAQ:AAON) last issued its quarterly earnings results on Thursday, August 2nd. The construction company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. AAON had a return on equity of 17.78% and a net margin of 10.89%. The firm had revenue of $109.59 million during the quarter, compared to the consensus estimate of $117.69 million. During the same period last year, the company earned $0.26 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. sell-side analysts anticipate that AAON will post 0.87 EPS for the current fiscal year.

In related news, Director Jack E. Short sold 5,851 shares of the stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $40.45, for a total transaction of $236,672.95. Following the sale, the director now directly owns 53,547 shares of the company’s stock, valued at $2,165,976.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Scott M. Asbjornson sold 3,912 shares of the stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $33.13, for a total value of $129,604.56. Following the sale, the vice president now directly owns 858,407 shares in the company, valued at $28,439,023.91. The disclosure for this sale can be found here. Insiders have sold 16,896 shares of company stock worth $664,401 over the last ninety days. 22.20% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Congress Asset Management Co. MA boosted its position in shares of AAON by 9.5% during the second quarter. Congress Asset Management Co. MA now owns 84,048 shares of the construction company’s stock valued at $2,795,000 after buying an additional 7,280 shares during the last quarter. Atria Investments LLC purchased a new stake in shares of AAON during the second quarter valued at $262,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of AAON during the first quarter valued at $265,000. Thomson Horstmann & Bryant Inc. boosted its position in shares of AAON by 18.2% during the first quarter. Thomson Horstmann & Bryant Inc. now owns 17,157 shares of the construction company’s stock valued at $669,000 after buying an additional 2,637 shares during the last quarter. Finally, M&T Bank Corp purchased a new stake in shares of AAON during the first quarter valued at $204,000. 71.88% 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. 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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