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

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 downgraded AAON from a “buy” rating to a “hold” rating in a research note on Friday, June 30th.

AAON (NASDAQ AAON) traded down 0.28% on Wednesday, hitting $35.35. 97,247 shares of the stock were exchanged. AAON has a 52 week low of $27.45 and a 52 week high of $38.20. The company has a market cap of $1.86 billion, a PE ratio of 36.82 and a beta of 0.97. The company’s 50-day moving average is $32.89 and its 200-day moving average is $35.22.

AAON (NASDAQ:AAON) last announced its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.26 earnings per share (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 analysts’ expectations of $111.24 million. AAON had a return on equity of 24.33% and a net margin of 13.32%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share. On average, analysts predict that AAON will post $0.99 earnings per share for the current year.

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In other news, Director Jack E. Short sold 5,062 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $31.91, for a total transaction of $161,528.42. Following the completion of the sale, the director now directly owns 54,336 shares of the company’s stock, valued at approximately $1,733,861.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.25% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wasatch Advisors Inc. raised its stake in shares of AAON by 13.2% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,025,865 shares of the construction company’s stock worth $37,803,000 after purchasing an additional 119,468 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of AAON by 2.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 108,754 shares of the construction company’s stock worth $4,008,000 after purchasing an additional 3,089 shares in the last quarter. 1st Global Advisors Inc. raised its stake in shares of AAON by 1.3% during the 2nd quarter. 1st Global Advisors Inc. now owns 7,294 shares of the construction company’s stock worth $269,000 after purchasing an additional 97 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in shares of AAON during the 2nd quarter worth about $314,000. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of AAON by 0.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 65,402 shares of the construction company’s stock worth $2,410,000 after purchasing an additional 417 shares in the last quarter. 65.30% of the stock is owned by 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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