AAON, Inc. (AAON) Downgraded to Hold at BidaskClub

BidaskClub cut shares of AAON, Inc. (NASDAQ:AAON) from a buy rating to a hold rating in a research report sent to investors on Monday, July 24th.

Separately, Zacks Investment Research lowered AAON from a buy rating to a hold rating in a report on Wednesday, April 26th.

AAON (NASDAQ AAON) opened at 31.65 on Monday. The firm has a 50-day moving average of $35.26 and a 200-day moving average of $35.60. AAON has a 12-month low of $26.51 and a 12-month high of $38.20. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 32.97 and a beta of 0.96.

AAON (NASDAQ:AAON) last posted its earnings results on Thursday, August 3rd. The construction company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.02. AAON had a return on equity of 24.33% and a net margin of 13.32%. The company had revenue of $101.30 million during the quarter, compared to analyst estimates of $111.24 million. During the same quarter last year, the firm posted $0.27 earnings per share. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. Equities research analysts forecast that AAON will post $1.00 earnings per share for the current fiscal year.

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In other AAON news, VP Scott M. Asbjornson sold 9,815 shares of AAON stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $36.71, for a total value of $360,308.65. Following the transaction, the vice president now directly owns 860,165 shares of the company’s stock, valued at approximately $31,576,657.15. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 22.25% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wasatch Advisors Inc. increased its position in shares of AAON by 13.2% in the second quarter. Wasatch Advisors Inc. now owns 1,025,865 shares of the construction company’s stock valued at $37,803,000 after buying an additional 119,468 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of AAON by 2.9% in the second quarter. Public Employees Retirement System of Ohio now owns 108,754 shares of the construction company’s stock valued at $4,008,000 after buying an additional 3,089 shares in the last quarter. 1st Global Advisors Inc. increased its position in shares of AAON by 1.3% in the second quarter. 1st Global Advisors Inc. now owns 7,294 shares of the construction company’s stock valued at $269,000 after buying an additional 97 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in AAON during the second quarter worth about $314,000. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in AAON by 0.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 65,402 shares of the construction company’s stock worth $2,410,000 after buying an additional 417 shares in the last quarter. 66.18% of the stock is currently owned by institutional investors.

About AAON

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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