AAON Inc. (AAON) Now Covered by Jefferies Group
Stock analysts at Jefferies Group initiated coverage on shares of AAON Inc. (NASDAQ:AAON) in a note issued to investors on Thursday. The firm set a “buy” rating and a $30.00 price target on the stock. Jefferies Group’s price objective indicates a potential upside of 1.35% from the stock’s current price.
Separately, Zacks Investment Research lowered shares of AAON from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th.
AAON (NASDAQ:AAON) opened at 29.60 on Thursday. AAON has a 52 week low of $19.06 and a 52 week high of $30.80. The stock has a 50 day moving average of $28.55 and a 200 day moving average of $27.50. The company has a market cap of $1.57 billion, a P/E ratio of 31.13 and a beta of 1.30.
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AAON (NASDAQ:AAON) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The company had revenue of $102.30 million for the quarter, compared to analyst estimates of $98.03 million. AAON had a net margin of 13.54% and a return on equity of 27.11%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.20 earnings per share. On average, analysts expect that AAON will post $1.00 earnings per share for the current year.
In other news, insider Rebecca Thompson sold 1,792 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $28.00, for a total transaction of $50,176.00. Following the transaction, the insider now directly owns 20,365 shares in the company, valued at $570,220. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 24.91% of the company’s stock.
Several institutional investors have recently made changes to their positions in AAON. Conestoga Capital Advisors LLC raised its position in shares of AAON by 26.7% in the first quarter. Conestoga Capital Advisors LLC now owns 1,940,674 shares of the company’s stock worth $54,339,000 after buying an additional 409,365 shares during the period. Norges Bank acquired a new position in shares of AAON during the fourth quarter worth about $9,311,000. Neuberger Berman Group LLC raised its position in AAON by 7.1% in the second quarter. Neuberger Berman Group LLC now owns 3,438,699 shares of the company’s stock worth $94,599,000 after buying an additional 228,804 shares during the period. Macquarie Group Ltd. raised its position in AAON by 26.8% in the second quarter. Macquarie Group Ltd. now owns 929,789 shares of the company’s stock worth $25,578,000 after buying an additional 196,664 shares during the period. Finally, Henderson Group PLC raised its position in AAON by 57.5% in the second quarter. Henderson Group PLC now owns 506,906 shares of the company’s stock worth $13,945,000 after buying an additional 185,026 shares during the period. Institutional investors and hedge funds own 58.68% of the company’s stock.
AAON, Inc (AAON) is engaged in the manufacture and sale of air-conditioning and heating equipment. The Company’s products consist of rooftop units, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, self-contained units and coils.
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