AAON (NASDAQ:AAON) Raised to Buy at BidaskClub

AAON (NASDAQ:AAON) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Saturday, BidAskClub reports.

A number of other equities research analysts have also recently commented on AAON. Zacks Investment Research raised AAON from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. ValuEngine cut AAON from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $40.50.

NASDAQ AAON opened at $47.07 on Friday. AAON has a 12 month low of $31.56 and a 12 month high of $53.27. The stock has a market cap of $2.49 billion, a P/E ratio of 58.11 and a beta of 0.97. The stock’s fifty day moving average price is $47.30 and its 200-day moving average price is $47.83.

AAON (NASDAQ:AAON) last released its earnings results on Thursday, August 1st. The construction company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.06). AAON had a return on equity of 19.78% and a net margin of 11.01%. The company had revenue of $119.40 million during the quarter, compared to analysts’ expectations of $124.42 million. During the same period in the prior year, the company posted $0.22 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts expect that AAON will post 1.03 earnings per share for the current year.

In related news, VP Rony D. Gadiwalla sold 4,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $50.38, for a total transaction of $201,520.00. Following the sale, the vice president now directly owns 31,934 shares of the company’s stock, valued at $1,608,834.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott M. Asbjornson sold 21,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $49.90, for a total value of $1,047,900.00. Following the sale, the chief financial officer now directly owns 869,267 shares in the company, valued at $43,376,423.30. The disclosure for this sale can be found here. Corporate insiders own 22.24% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan boosted its position in shares of AAON by 1.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 12,130 shares of the construction company’s stock valued at $609,000 after buying an additional 220 shares during the last quarter. Advisor Group Inc. boosted its position in shares of AAON by 4.7% during the second quarter. Advisor Group Inc. now owns 4,903 shares of the construction company’s stock valued at $246,000 after buying an additional 221 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of AAON by 1.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 16,037 shares of the construction company’s stock valued at $805,000 after buying an additional 300 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of AAON by 10.0% during the third quarter. Nisa Investment Advisors LLC now owns 3,300 shares of the construction company’s stock valued at $152,000 after buying an additional 300 shares during the last quarter. Finally, Aperio Group LLC boosted its position in shares of AAON by 2.8% during the second quarter. Aperio Group LLC now owns 11,411 shares of the construction company’s stock valued at $573,000 after buying an additional 313 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors.

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.

Featured Article: Understanding each part of a balance sheet

Receive News & Ratings for AAON Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AAON and related companies with MarketBeat.com's FREE daily email newsletter.