AAON (AAON) Upgraded to Buy at BidaskClub

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BidaskClub upgraded shares of AAON (NASDAQ:AAON) from a hold rating to a buy rating in a report issued on Thursday morning.

A number of other equities research analysts have also recently issued reports on AAON. ValuEngine cut shares of AAON from a buy rating to a hold rating in a report on Tuesday, October 9th. Zacks Investment Research cut shares of AAON from a buy rating to a hold rating in a report on Wednesday, October 3rd.

NASDAQ:AAON traded down $0.57 on Thursday, hitting $43.26. 249,359 shares of the company’s stock were exchanged, compared to its average volume of 215,055. AAON has a 52 week low of $29.05 and a 52 week high of $44.90. The stock has a market capitalization of $2.18 billion, a PE ratio of 45.54, a price-to-earnings-growth ratio of 3.45 and a beta of 0.96.

AAON (NASDAQ:AAON) last issued its quarterly earnings results on Thursday, November 1st. The construction company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.03). AAON had a return on equity of 17.17% and a net margin of 10.76%. The business had revenue of $112.93 million for the quarter, compared to the consensus estimate of $130.58 million. During the same period last year, the firm earned $0.28 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, research analysts expect that AAON will post 0.81 EPS for the current year.

The company also recently announced a semiannual dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, November 29th will be issued a $0.16 dividend. This represents a dividend yield of 0.74%. This is a boost from AAON’s previous semiannual dividend of $0.13. The ex-dividend date is Wednesday, November 28th. AAON’s dividend payout ratio is presently 33.68%.

In other news, Director Jack E. Short sold 5,851 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $40.45, for a total value of $236,672.95. Following the sale, the director now directly owns 53,547 shares of the company’s stock, valued at approximately $2,165,976.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Rebecca Thompson sold 5,533 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $42.69, for a total transaction of $236,203.77. Following the completion of the sale, the chief accounting officer now directly owns 12,196 shares in the company, valued at $520,647.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,107 shares of company stock worth $943,307. 22.20% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Rhumbline Advisers grew its stake in AAON by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 102,684 shares of the construction company’s stock valued at $3,414,000 after buying an additional 1,453 shares during the last quarter. Congress Asset Management Co. MA grew its stake in AAON by 9.5% in the 2nd 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. Intrinsic Edge Capital Management LLC acquired a new position in AAON in the 2nd quarter valued at about $4,277,000. Brown Advisory Inc. acquired a new position in AAON in the 2nd quarter valued at about $2,684,000. Finally, Schwab Charles Investment Management Inc. grew its stake in AAON by 15.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 233,078 shares of the construction company’s stock valued at $7,750,000 after buying an additional 30,800 shares during the last quarter. 72.36% 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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