AAON (NASDAQ:AAON) Raised to “Hold” at Wall Street Zen

AAON (NASDAQ:AAON) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other equities analysts have also commented on AAON. CJS Securities raised shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Friday, February 28th. Sidoti raised shares of AAON from a “neutral” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Monday, June 16th. Robert W. Baird decreased their target price on shares of AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Finally, DA Davidson decreased their target price on shares of AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 28th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $111.50.

AAON Stock Performance

Shares of AAON stock opened at $73.59 on Friday. The stock has a market cap of $5.99 billion, a P/E ratio of 38.73 and a beta of 1.03. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.77 and a quick ratio of 1.80. The company has a fifty day moving average price of $89.91 and a two-hundred day moving average price of $98.52. AAON has a one year low of $68.98 and a one year high of $144.07.

AAON (NASDAQ:AAON) last announced its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.13. The firm had revenue of $322.05 million during the quarter, compared to analysts’ expectations of $289.16 million. AAON had a net margin of 12.60% and a return on equity of 20.23%. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 earnings per share. As a group, equities analysts predict that AAON will post 2.26 EPS for the current year.

AAON announced that its board has authorized a stock repurchase plan on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other AAON news, Director Gordon Douglas Wichman sold 3,975 shares of the business’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $105.75, for a total transaction of $420,356.25. Following the completion of the sale, the director now owns 8,754 shares in the company, valued at approximately $925,735.50. The trade was a 31.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gary D. Fields sold 37,189 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $98.20, for a total transaction of $3,651,959.80. Following the sale, the chief executive officer now owns 63,714 shares of the company’s stock, valued at $6,256,714.80. This trade represents a 36.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,823 shares of company stock worth $7,122,451 in the last quarter. 18.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AAON

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Voya Investment Management LLC lifted its holdings in AAON by 333.8% during the first quarter. Voya Investment Management LLC now owns 392,841 shares of the construction company’s stock valued at $30,693,000 after purchasing an additional 302,282 shares during the last quarter. Inspire Investing LLC increased its position in shares of AAON by 50.5% during the first quarter. Inspire Investing LLC now owns 8,390 shares of the construction company’s stock valued at $656,000 after buying an additional 2,817 shares during the period. Belpointe Asset Management LLC increased its position in shares of AAON by 9.0% during the first quarter. Belpointe Asset Management LLC now owns 5,790 shares of the construction company’s stock valued at $452,000 after buying an additional 480 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of AAON by 5.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,002 shares of the construction company’s stock valued at $18,204,000 after buying an additional 12,489 shares during the period. Finally, Ascent Group LLC bought a new stake in shares of AAON during the first quarter valued at about $3,799,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

About AAON

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.