AAON (NASDAQ:AAON) Upgraded to Strong-Buy at Zacks Research

AAON (NASDAQ:AAON) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the company. William Blair restated an “outperform” rating on shares of AAON in a research report on Monday, March 2nd. DA Davidson reiterated a “buy” rating and set a $120.00 price objective on shares of AAON in a research note on Tuesday, February 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of AAON in a report on Wednesday, January 21st. Wall Street Zen raised AAON from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of AAON in a report on Friday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $107.75.

AAON Price Performance

Shares of NASDAQ AAON opened at $133.66 on Monday. The firm has a market capitalization of $10.95 billion, a P/E ratio of 93.47, a P/E/G ratio of 3.97 and a beta of 1.24. The company has a quick ratio of 1.75, a current ratio of 2.62 and a debt-to-equity ratio of 0.46. The stock’s 50-day simple moving average is $92.55 and its two-hundred day simple moving average is $91.63. AAON has a twelve month low of $62.00 and a twelve month high of $149.00.

AAON (NASDAQ:AAON) last announced its earnings results on Thursday, May 7th. The construction company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.17. The business had revenue of $496.94 million for the quarter, compared to analyst estimates of $381.08 million. AAON had a return on equity of 13.67% and a net margin of 7.30%.The company’s quarterly revenue was up 54.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.37 EPS. As a group, equities analysts anticipate that AAON will post 2.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Casey Kidwell sold 5,225 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $90.00, for a total transaction of $470,250.00. Following the completion of the transaction, the insider directly owned 12,662 shares of the company’s stock, valued at approximately $1,139,580. This represents a 29.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Rebecca Thompson sold 21,914 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $100.21, for a total value of $2,196,001.94. Following the completion of the sale, the chief accounting officer directly owned 27,681 shares of the company’s stock, valued at $2,773,913.01. The trade was a 44.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 46,790 shares of company stock valued at $4,986,339. 18.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AAON

Several institutional investors have recently modified their holdings of the stock. Pembroke Management LTD raised its holdings in shares of AAON by 28.6% in the third quarter. Pembroke Management LTD now owns 553,149 shares of the construction company’s stock worth $51,686,000 after buying an additional 122,937 shares during the period. Jackson Square Partners LLC increased its holdings in AAON by 195.8% during the 3rd quarter. Jackson Square Partners LLC now owns 133,734 shares of the construction company’s stock worth $12,496,000 after purchasing an additional 88,516 shares during the period. Moore Capital Management LP purchased a new position in AAON during the 3rd quarter worth $13,959,000. Comerica Bank increased its holdings in AAON by 23.7% during the 4th quarter. Comerica Bank now owns 238,462 shares of the construction company’s stock worth $18,183,000 after purchasing an additional 45,660 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of AAON by 136.4% in the 3rd quarter. First Trust Advisors LP now owns 1,933,595 shares of the construction company’s stock valued at $180,675,000 after acquiring an additional 1,115,566 shares during the period. 70.81% of the stock is owned by 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.