AAON, Inc. (NASDAQ:AAON) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

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. “

Separately, BidaskClub lowered AAON from a “buy” rating to a “hold” rating in a research note on Monday, July 24th.

Shares of AAON (AAON) traded up 0.14% during trading on Tuesday, reaching $35.00. The company’s stock had a trading volume of 119,486 shares. AAON has a 12-month low of $25.75 and a 12-month high of $38.20. The stock’s 50-day moving average is $36.49 and its 200-day moving average is $35.65. The stock has a market cap of $1.84 billion, a P/E ratio of 36.08 and a beta of 0.96.

AAON (NASDAQ:AAON) last posted its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.02. The business had revenue of $101.30 million for the quarter, compared to the consensus estimate of $111.24 million. AAON had a net margin of 13.32% and a return on equity of 24.33%. AAON’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 EPS. Equities research analysts anticipate that AAON will post $1.00 earnings per share for the current fiscal year.

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In other AAON news, VP Scott M. Asbjornson sold 9,815 shares of AAON stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $36.71, for a total transaction of $360,308.65. Following the completion of the sale, the vice president now owns 860,165 shares of the company’s stock, valued at $31,576,657.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 22.25% of the company’s stock.

A number of large investors have recently modified their holdings of the company. LS Investment Advisors LLC raised its stake in shares of AAON by 86.0% in the first quarter. LS Investment Advisors LLC now owns 2,899 shares of the construction company’s stock valued at $102,000 after buying an additional 1,340 shares during the period. Capital Analysts LLC purchased a new stake in shares of AAON during the second quarter valued at about $121,000. Ameritas Investment Partners Inc. purchased a new stake in shares of AAON during the first quarter valued at about $123,000. Victory Capital Management Inc. raised its stake in shares of AAON by 15.2% in the third quarter. Victory Capital Management Inc. now owns 3,654 shares of the construction company’s stock valued at $105,000 after buying an additional 482 shares during the period. Finally, Barclays PLC purchased a new stake in shares of AAON during the first quarter valued at about $119,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

AAON Company Profile

AAON, Inc is engaged in the engineering, manufacturing, marketing and sale of air conditioning and heating equipment consisting of standard, semi-custom and custom rooftop units, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps and coils.

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