ValuEngine Downgrades AAON (AAON) to Hold

ValuEngine downgraded shares of AAON (NASDAQ:AAON) from a buy rating to a hold rating in a research report released on Tuesday morning.

A number of other equities research analysts have also recently weighed in on the stock. BidaskClub cut shares of AAON from a hold rating to a sell rating in a research note on Thursday, October 4th. Zacks Investment Research cut shares of AAON from a buy rating to a hold rating in a research note on Wednesday, October 3rd.

Shares of NASDAQ AAON opened at $31.89 on Tuesday. AAON has a fifty-two week low of $29.05 and a fifty-two week high of $43.30. The stock has a market cap of $1.98 billion, a P/E ratio of 33.57, a P/E/G ratio of 2.90 and a beta of 0.88.

AAON (NASDAQ:AAON) last issued its quarterly earnings data on Thursday, August 2nd. The construction company reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. AAON had a net margin of 10.89% and a return on equity of 17.78%. The business had revenue of $109.59 million for the quarter, compared to analysts’ expectations of $117.69 million. During the same period in the previous year, the business earned $0.26 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. On average, research analysts predict that AAON will post 0.87 EPS for the current year.

In other AAON news, President Gary D. Fields sold 1,600 shares of the business’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $38.70, for a total value of $61,920.00. Following the sale, the president now directly owns 25,343 shares in the company, valued at $980,774.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jack E. Short sold 5,851 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $40.45, for a total transaction of $236,672.95. Following the completion of the sale, the director now owns 53,547 shares in the company, valued at $2,165,976.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,984 shares of company stock worth $534,797. 22.20% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. raised its position in AAON by 15.9% in the second quarter. Victory Capital Management Inc. now owns 10,481 shares of the construction company’s stock worth $348,000 after acquiring an additional 1,435 shares in the last quarter. Rhumbline Advisers raised its position in AAON by 1.4% in the second quarter. Rhumbline Advisers now owns 102,684 shares of the construction company’s stock worth $3,414,000 after acquiring an additional 1,453 shares in the last quarter. Profund Advisors LLC raised its position in AAON by 33.3% in the first quarter. Profund Advisors LLC now owns 7,792 shares of the construction company’s stock worth $304,000 after acquiring an additional 1,945 shares in the last quarter. OppenheimerFunds Inc. raised its position in AAON by 32.5% in the second quarter. OppenheimerFunds Inc. now owns 8,568 shares of the construction company’s stock worth $285,000 after acquiring an additional 2,101 shares in the last quarter. Finally, Stifel Financial Corp raised its position in AAON by 33.7% in the first quarter. Stifel Financial Corp now owns 8,604 shares of the construction company’s stock worth $333,000 after acquiring an additional 2,170 shares in the last quarter. Hedge funds and other institutional investors own 71.88% of the company’s stock.

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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