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. “
Several other equities research analysts also recently weighed in on the stock. BidaskClub downgraded shares of AAON from a buy rating to a hold rating in a research report on Friday, March 1st. DA Davidson downgraded shares of AAON from a neutral rating to an underperform rating and set a $35.00 target price for the company. in a research report on Monday, May 6th. They noted that the move was a valuation call. Finally, TheStreet downgraded shares of AAON from a b+ rating to a c rating in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. AAON has a consensus rating of Hold and an average price target of $40.50.
AAON opened at $47.97 on Tuesday. The stock has a market capitalization of $2.50 billion, a PE ratio of 59.22, a P/E/G ratio of 2.54 and a beta of 0.97. AAON has a 1-year low of $31.55 and a 1-year high of $52.50.
AAON (NASDAQ:AAON) last released its earnings results on Thursday, May 2nd. The construction company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.02). The company had revenue of $113.82 million during the quarter, compared to the consensus estimate of $109.92 million. AAON had a return on equity of 19.79% and a net margin of 10.97%. AAON’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 EPS. On average, equities research analysts forecast that AAON will post 1.28 earnings per share for the current fiscal year.
The firm also recently declared a semiannual dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, May 31st. AAON’s dividend payout ratio (DPR) is presently 39.51%.
In other news, VP Stephen E. Wakefield sold 1,118 shares of AAON stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $47.83, for a total value of $53,473.94. Following the completion of the transaction, the vice president now directly owns 6,878 shares of the company’s stock, valued at approximately $328,974.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott M. Asbjornson sold 3,824 shares of AAON stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $48.83, for a total transaction of $186,725.92. Following the completion of the transaction, the chief financial officer now directly owns 856,247 shares of the company’s stock, valued at $41,810,541.01. The disclosure for this sale can be found here. Insiders own 22.24% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. PRW Wealth Management LLC acquired a new position in shares of AAON in the 4th quarter valued at about $46,000. Ellis Investment Partners LLC acquired a new position in shares of AAON in the 1st quarter valued at about $65,000. One Wealth Advisors LLC acquired a new position in shares of AAON in the 1st quarter valued at about $75,000. Bank of Montreal Can boosted its holdings in shares of AAON by 12.1% in the 4th quarter. Bank of Montreal Can now owns 2,689 shares of the construction company’s stock valued at $94,000 after buying an additional 290 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of AAON by 33.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,061 shares of the construction company’s stock valued at $107,000 after buying an additional 773 shares during the period. 72.68% of the stock is owned by institutional investors and hedge funds.
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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