AAON (AAON) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of AAON (NASDAQ:AAON) from a hold rating to a buy rating in a research note issued to investors on Tuesday. The firm currently has $44.00 price objective on the construction company’s stock.

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. “

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Separately, BidaskClub upgraded AAON from a sell rating to a hold rating in a report on Friday, March 16th.

Shares of AAON (AAON) opened at $39.25 on Tuesday. AAON has a twelve month low of $29.95 and a twelve month high of $39.50. The company has a market capitalization of $2,050.14, a P/E ratio of 38.11, a P/E/G ratio of 1.96 and a beta of 0.87.

AAON (NASDAQ:AAON) last announced its earnings results on Tuesday, February 27th. The construction company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.02). AAON had a net margin of 13.45% and a return on equity of 22.34%. The company had revenue of $104.16 million during the quarter, compared to the consensus estimate of $108.00 million. equities analysts expect that AAON will post 1.33 EPS for the current fiscal year.

In other AAON news, VP Sam Neale sold 7,840 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $35.60, for a total value of $279,104.00. Following the transaction, the vice president now directly owns 33,028 shares of the company’s stock, valued at $1,175,796.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. 22.25% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of AAON. Capital Analysts LLC lifted its stake in AAON by 57.1% in the fourth quarter. Capital Analysts LLC now owns 5,146 shares of the construction company’s stock valued at $189,000 after buying an additional 1,871 shares during the period. Xact Kapitalforvaltning AB acquired a new position in AAON in the fourth quarter valued at approximately $221,000. Amalgamated Bank acquired a new position in AAON in the fourth quarter valued at approximately $222,000. Dynamic Technology Lab Private Ltd acquired a new position in AAON in the third quarter valued at approximately $298,000. Finally, Crossmark Global Holdings Inc. acquired a new position in AAON in the third quarter valued at approximately $341,000. 69.54% of the stock is currently owned by hedge funds and other institutional investors.

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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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