AAON, Inc. (AAON) Upgraded by Zacks Investment Research to “Hold”
AAON, Inc. (NASDAQ:AAON) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and 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 Friday, June 30th.
Shares of AAON (NASDAQ AAON) traded up 0.92% on Tuesday, hitting $32.95. The company’s stock had a trading volume of 314,200 shares. The company has a 50 day moving average of $32.80 and a 200 day moving average of $35.33. AAON has a 1-year low of $27.25 and a 1-year high of $38.20. The firm has a market cap of $1.73 billion, a PE ratio of 34.32 and a beta of 0.97.
AAON (NASDAQ:AAON) last posted its earnings results on Thursday, August 3rd. The construction company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.02). The business had revenue of $101.30 million during the quarter, compared to analyst estimates of $111.24 million. AAON had a net margin of 13.32% and a return on equity of 24.33%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 earnings per share. Equities analysts forecast that AAON will post $1.00 EPS for the current year.
In other news, Director Jack E. Short sold 5,062 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $31.91, for a total value of $161,528.42. Following the completion of the sale, the director now owns 54,336 shares of the company’s stock, valued at $1,733,861.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 22.25% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of AAON by 132,761.8% in the first quarter. BlackRock Inc. now owns 4,753,796 shares of the construction company’s stock worth $168,047,000 after buying an additional 4,750,218 shares during the period. Neuberger Berman Group LLC boosted its position in shares of AAON by 0.4% in the second quarter. Neuberger Berman Group LLC now owns 3,588,053 shares of the construction company’s stock worth $132,220,000 after buying an additional 13,725 shares during the period. Vanguard Group Inc. boosted its position in shares of AAON by 1.3% in the second quarter. Vanguard Group Inc. now owns 3,547,234 shares of the construction company’s stock worth $130,715,000 after buying an additional 43,958 shares during the period. Conestoga Capital Advisors LLC boosted its position in shares of AAON by 5.1% in the second quarter. Conestoga Capital Advisors LLC now owns 1,566,317 shares of the construction company’s stock worth $57,719,000 after buying an additional 75,443 shares during the period. Finally, Wasatch Advisors Inc. boosted its position in shares of AAON by 13.2% in the second quarter. Wasatch Advisors Inc. now owns 1,025,865 shares of the construction company’s stock worth $37,803,000 after buying an additional 119,468 shares during the period. 65.30% of the stock is owned by institutional investors and hedge funds.
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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