AAON (NASDAQ:AAON) Coverage Initiated at William Blair

Equities researchers at William Blair began coverage on shares of AAON (NASDAQ:AAON) in a research report issued on Monday, Marketbeat reports. The brokerage set an “outperform” rating on the construction company’s stock.

AAON Price Performance

NASDAQ AAON opened at $94.09 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.54 and a current ratio of 3.23. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 44.10 and a beta of 0.91. The stock has a 50-day moving average of $85.91 and a 200 day moving average of $73.93. AAON has a one year low of $52.24 and a one year high of $96.34.

AAON (NASDAQ:AAON) last issued its earnings results on Wednesday, February 28th. The construction company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.03. The company had revenue of $306.60 million for the quarter, compared to analysts’ expectations of $294.35 million. AAON had a net margin of 15.20% and a return on equity of 27.20%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the company posted $0.47 earnings per share. On average, sell-side analysts forecast that AAON will post 2.29 EPS for the current year.

Insiders Place Their Bets

In related news, Director Norman H. Asbjornson sold 805 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $80.01, for a total transaction of $64,408.05. Following the completion of the sale, the director now owns 53,093 shares in the company, valued at $4,247,970.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other AAON news, Director Norman H. Asbjornson sold 19,136 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $81.30, for a total value of $1,555,756.80. Following the sale, the director now owns 14,874 shares in the company, valued at approximately $1,209,256.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Norman H. Asbjornson sold 805 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $80.01, for a total value of $64,408.05. Following the transaction, the director now owns 53,093 shares of the company’s stock, valued at approximately $4,247,970.93. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,596 shares of company stock worth $3,613,768. Corporate insiders own 18.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. TFO Wealth Partners LLC purchased a new position in AAON in the fourth quarter worth about $27,000. Operose Advisors LLC bought a new position in shares of AAON during the 3rd quarter valued at approximately $31,000. CI Investments Inc. raised its holdings in AAON by 50.9% during the 3rd quarter. CI Investments Inc. now owns 617 shares of the construction company’s stock valued at $35,000 after buying an additional 208 shares during the period. GAMMA Investing LLC purchased a new stake in AAON during the 4th quarter valued at $36,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in AAON in the fourth quarter worth $39,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

About AAON

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.