Zacks Research Downgrades AAON (NASDAQ:AAON) to Hold

AAON (NASDAQ:AAON) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Separately, Oppenheimer reissued an “outperform” rating on shares of AAON in a research report on Friday, May 8th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $112.00.

AAON Trading Down 1.8%

AAON stock opened at $107.98 on Tuesday. AAON has a 12 month low of $62.00 and a 12 month high of $150.46. The company has a market capitalization of $8.84 billion, a price-to-earnings ratio of 75.51, a price-to-earnings-growth ratio of 3.08 and a beta of 1.41. The business’s fifty day simple moving average is $127.20 and its two-hundred day simple moving average is $102.70. The company has a current ratio of 2.62, a quick ratio of 1.75 and a debt-to-equity ratio of 0.46.

AAON (NASDAQ:AAON) last issued its quarterly earnings results on Thursday, May 7th. The construction company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.17. The firm had revenue of $496.94 million during the quarter, compared to the consensus estimate of $381.08 million. AAON had a return on equity of 13.67% and a net margin of 7.30%.The company’s revenue was up 54.3% on a year-over-year basis. During the same period last year, the company earned $0.37 earnings per share. As a group, equities analysts predict that AAON will post 2.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AAON news, Director Gary D. Fields sold 31,271 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $134.07, for a total value of $4,192,502.97. Following the completion of the transaction, the director owned 34,252 shares of the company’s stock, valued at approximately $4,592,165.64. The trade was a 47.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Rebecca Thompson sold 21,914 shares of the company’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $100.21, for a total transaction of $2,196,001.94. Following the transaction, the chief accounting officer owned 27,681 shares in the company, valued at $2,773,913.01. This represents a 44.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 150,473 shares of company stock valued at $19,516,213. Company insiders own 18.09% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its holdings in AAON by 96.5% in the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock worth $25,000 after purchasing an additional 164 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of AAON in the 4th quarter worth $45,000. Danske Bank A S purchased a new position in shares of AAON in the 3rd quarter worth $47,000. Huntington National Bank grew its holdings in shares of AAON by 21.1% in the fourth quarter. Huntington National Bank now owns 689 shares of the construction company’s stock worth $53,000 after acquiring an additional 120 shares during the period. Finally, UMB Bank n.a. grew its holdings in shares of AAON by 46.8% in the fourth quarter. UMB Bank n.a. now owns 885 shares of the construction company’s stock worth $67,000 after acquiring an additional 282 shares during the period. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Company Profile

AAON, Inc (NASDAQ: AAON) is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company’s product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON’s core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.