DA Davidson Downgrades AAON (AAON) to Underperform

DA Davidson downgraded shares of AAON (NASDAQ:AAON) from a neutral rating to an underperform rating in a report published on Monday, May 6th, BenzingaRatingsTable reports. They currently have $35.00 target price on the construction company’s stock. DA Davidson also issued estimates for AAON’s FY2019 earnings at $1.28 EPS. The analysts noted that the move was a valuation call.

Several other analysts also recently commented on AAON. BidaskClub raised shares of AAON from a buy rating to a strong-buy rating in a report on Saturday, March 30th. Zacks Investment Research downgraded shares of AAON from a buy rating to a hold rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. AAON currently has a consensus rating of Buy and a consensus target price of $40.50.

AAON stock traded down $1.02 during midday trading on Monday, hitting $45.39. The company’s stock had a trading volume of 102,666 shares, compared to its average volume of 134,316. AAON has a twelve month low of $29.77 and a twelve month high of $52.50. The firm has a market capitalization of $2.37 billion, a P/E ratio of 56.04, a PEG ratio of 2.41 and a beta of 0.94.

AAON (NASDAQ:AAON) last released its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.21 earnings per share 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 analyst estimates of $109.92 million. AAON had a return on equity of 19.79% and a net margin of 10.97%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 earnings per share. Equities analysts expect that AAON will post 1.28 earnings per share for the current fiscal year.

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

In related news, VP Stephen E. Wakefield sold 1,118 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $47.83, for a total transaction of $53,473.94. Following the completion of the transaction, the vice president now directly owns 6,878 shares in the company, valued at approximately $328,974.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Gary D. Fields sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $42.39, for a total transaction of $84,780.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,753 shares of company stock valued at $164,848. 22.24% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. THB Asset Management boosted its stake in shares of AAON by 0.9% in the 1st quarter. THB Asset Management now owns 25,317 shares of the construction company’s stock valued at $1,169,000 after purchasing an additional 229 shares during the last quarter. Piedmont Investment Advisors Inc. boosted its stake in shares of AAON by 3.0% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 9,681 shares of the construction company’s stock valued at $339,000 after purchasing an additional 281 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in AAON by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 15,737 shares of the construction company’s stock worth $727,000 after acquiring an additional 284 shares in the last quarter. Bank of Montreal Can boosted its stake in AAON by 12.1% during the fourth quarter. Bank of Montreal Can now owns 2,689 shares of the construction company’s stock worth $94,000 after acquiring an additional 290 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in AAON by 2.5% during the fourth quarter. State of Alaska Department of Revenue now owns 13,618 shares of the construction company’s stock worth $477,000 after acquiring an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 72.68% of the company’s stock.

AAON Company Profile

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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