Zacks Research Downgrades AAON (NASDAQ:AAON) to Hold

AAON (NASDAQ:AAON) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Separately, Oppenheimer reiterated an “outperform” rating on shares of AAON in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.00.

AAON Price Performance

AAON stock opened at $107.98 on Tuesday. AAON has a 12 month low of $62.00 and a 12 month high of $150.46. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.62 and a quick ratio of 1.75. The business has a 50 day simple moving average of $127.20 and a 200-day simple moving average of $102.70. The stock has a market capitalization of $8.84 billion, a PE ratio of 75.51, a price-to-earnings-growth ratio of 3.08 and a beta of 1.41.

AAON (NASDAQ:AAON) last issued its quarterly earnings results on Thursday, May 7th. The construction company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.17. AAON had a net margin of 7.30% and a return on equity of 13.67%. The business had revenue of $496.94 million for the quarter, compared to analyst estimates of $381.08 million. During the same period in the previous year, the business posted $0.37 earnings per share. The business’s revenue was up 54.3% compared to the same quarter last year. Equities analysts predict that AAON will post 2.23 earnings per share for the current year.

Insider Transactions at AAON

In other AAON news, CAO Rebecca Thompson sold 4,230 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $143.42, for a total transaction of $606,666.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gordon Douglas Wichman sold 3,000 shares of AAON stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $140.39, for a total transaction of $421,170.00. Following the transaction, the executive vice president owned 10,997 shares of the company’s stock, valued at approximately $1,543,868.83. The trade was a 21.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 150,473 shares of company stock worth $19,516,213 in the last 90 days. Insiders own 18.09% of the company’s stock.

Institutional Investors Weigh In On AAON

A number of large investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in shares of AAON by 62.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,070 shares of the construction company’s stock worth $263,000 after purchasing an additional 796 shares during the period. Brighton Securities CORP. purchased a new position in AAON during the second quarter worth about $240,000. Summitry LLC lifted its position in AAON by 2.6% during the first quarter. Summitry LLC now owns 7,830 shares of the construction company’s stock worth $648,000 after buying an additional 195 shares during the period. EverSource Wealth Advisors LLC boosted its stake in AAON by 48.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 549 shares of the construction company’s stock worth $45,000 after buying an additional 178 shares during the last quarter. Finally, California State Teachers Retirement System grew its holdings in AAON by 22.7% in the 1st quarter. California State Teachers Retirement System now owns 80,436 shares of the construction company’s stock valued at $6,656,000 after buying an additional 14,878 shares during the period. Institutional investors and hedge funds own 70.81% of the company’s stock.

About AAON

AAON, Inc (NASDAQ: AAON) is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company’s product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON’s core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.