Zacks Investment Research upgraded shares of AAON (NASDAQ:AAON) from a sell rating to a hold rating in a research report sent to investors on Monday morning, Zacks.com reports.

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. “

A number of other research analysts have also weighed in on the stock. BidaskClub lowered shares of AAON from a buy rating to a hold rating in a research note on Friday, March 1st. DA Davidson lowered shares of AAON from a neutral rating to an underperform rating and set a $35.00 price target on the stock. in a research note on Monday, May 6th. They noted that the move was a valuation call. Finally, TheStreet lowered shares of AAON from a b+ rating to a c rating in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $40.50.

AAON stock opened at $45.86 on Monday. AAON has a 52-week low of $31.20 and a 52-week high of $52.50. The stock has a market cap of $2.37 billion, a PE ratio of 48.29, a PEG ratio of 2.36 and a beta of 0.97.

AAON (NASDAQ:AAON) last posted its earnings results on Thursday, May 2nd. The construction company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). The firm had revenue of $113.82 million for the quarter, compared to analysts’ expectations of $109.92 million. AAON had a return on equity of 19.79% and a net margin of 10.97%. The company’s revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.08 earnings per share. As a group, research analysts predict that AAON will post 1.28 earnings per share for the current year.

The business also recently declared a semiannual dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.16 dividend. The ex-dividend date is Friday, May 31st. AAON’s dividend payout ratio is presently 39.51%.

In related news, VP Stephen E. Wakefield sold 1,118 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $47.83, for a total value of $53,473.94. Following the transaction, the vice president now directly owns 6,878 shares of the company’s stock, valued at approximately $328,974.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 22.24% of the company’s stock.

A number of institutional investors have recently modified their holdings of AAON. PRW Wealth Management LLC acquired a new stake in AAON in the 4th quarter valued at about $46,000. Ellis Investment Partners LLC acquired a new stake in AAON in the 1st quarter valued at about $65,000. One Wealth Advisors LLC acquired a new stake in AAON in the 1st quarter valued at about $75,000. Bank of Montreal Can raised its holdings in AAON by 12.1% in the 4th quarter. Bank of Montreal Can now owns 2,689 shares of the construction company’s stock valued at $94,000 after acquiring an additional 290 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in AAON by 33.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,061 shares of the construction company’s stock valued at $107,000 after acquiring an additional 773 shares during the last quarter. 72.68% of the stock is currently 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. It offers rooftop units, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, self-contained units, and coils.

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