AAON (NASDAQ:AAON) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of AAON (NASDAQ:AAON) from a hold rating to a buy rating in a research note published on Saturday morning, BidAskClub reports.

Other research analysts have also issued research reports about the company. TheStreet lowered AAON from a b+ rating to a c rating in a research report on Thursday, May 9th. Zacks Investment Research lowered AAON from a hold rating to a strong sell rating in a research report on Monday, August 5th. Finally, DA Davidson lowered AAON from a neutral rating to an underperform rating and set a $35.00 price target for the company. in a research report on Monday, May 6th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $40.50.

NASDAQ:AAON opened at $47.38 on Friday. AAON has a 12-month low of $31.55 and a 12-month high of $53.27. The firm has a market capitalization of $2.36 billion, a P/E ratio of 58.49 and a beta of 0.95. The business has a 50 day simple moving average of $48.89 and a 200 day simple moving average of $45.99.

AAON (NASDAQ:AAON) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.06). AAON had a net margin of 11.01% and a return on equity of 19.78%. The company had revenue of $119.40 million for the quarter, compared to analyst estimates of $124.42 million. During the same quarter in the prior year, the firm earned $0.22 EPS. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, sell-side analysts forecast that AAON will post 1.03 EPS for the current fiscal year.

In other AAON news, insider Rebecca Thompson sold 1,100 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $47.97, for a total transaction of $52,767.00. Following the completion of the transaction, the insider now owns 10,960 shares in the company, valued at approximately $525,751.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Scott M. Asbjornson sold 3,824 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $48.83, for a total value of $186,725.92. Following the transaction, the chief financial officer now owns 856,247 shares of the company’s stock, valued at approximately $41,810,541.01. The disclosure for this sale can be found here. Insiders own 22.24% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its position in AAON by 0.8% during the 2nd quarter. BlackRock Inc. now owns 5,940,898 shares of the construction company’s stock worth $298,114,000 after acquiring an additional 44,527 shares during the period. Capital Advisors Inc. OK boosted its position in AAON by 0.5% during the 2nd quarter. Capital Advisors Inc. OK now owns 3,292,444 shares of the construction company’s stock worth $165,066,000 after acquiring an additional 15,670 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of AAON by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,847,916 shares of the construction company’s stock valued at $64,788,000 after buying an additional 15,652 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in shares of AAON by 2.6% in the second quarter. Conestoga Capital Advisors LLC now owns 1,635,333 shares of the construction company’s stock valued at $82,061,000 after buying an additional 40,855 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of AAON by 4.7% in the second quarter. Bank of New York Mellon Corp now owns 583,729 shares of the construction company’s stock valued at $29,291,000 after buying an additional 26,154 shares during the period. Institutional investors own 71.74% 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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