AAON (NASDAQ:AAON) Downgraded by Sidoti

Sidoti downgraded shares of AAON (NASDAQ:AAON) from a buy rating to a neutral rating in a research report sent to investors on Tuesday morning, MarketBeat reports. The brokerage currently has $111.00 target price on the construction company’s stock, up from their previous target price of $102.00.

Several other research firms have also recently commented on AAON. DA Davidson reiterated a “buy” rating and set a $102.00 target price on shares of AAON in a research note on Wednesday, June 26th. Robert W. Baird raised their price objective on shares of AAON from $100.00 to $102.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Baird R W upgraded shares of AAON to a “hold” rating in a research note on Wednesday, July 24th. Finally, StockNews.com raised shares of AAON from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $105.00.

AAON Stock Performance

Shares of AAON stock opened at $106.26 on Tuesday. The company has a current ratio of 2.99, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12. The company has a market cap of $8.74 billion, a PE ratio of 49.42 and a beta of 0.80. The company’s fifty day simple moving average is $100.47 and its 200-day simple moving average is $89.23. AAON has a 52 week low of $52.24 and a 52 week high of $113.86.

AAON (NASDAQ:AAON) last announced its earnings results on Thursday, August 1st. The construction company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. AAON had a return on equity of 26.02% and a net margin of 15.60%. The business had revenue of $313.57 million for the quarter, compared to the consensus estimate of $283.77 million. During the same period last year, the business posted $0.55 EPS. The company’s revenue was up 10.4% on a year-over-year basis. As a group, equities research analysts anticipate that AAON will post 2.28 EPS for the current year.

AAON Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.32 annualized dividend and a dividend yield of 0.30%. AAON’s payout ratio is 14.88%.

Insider Buying and Selling

In other news, CEO Gary D. Fields sold 20,641 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $86.21, for a total value of $1,779,460.61. Following the completion of the sale, the chief executive officer now directly owns 64,295 shares of the company’s stock, valued at approximately $5,542,871.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other AAON news, Director Norman H. Asbjornson sold 11,022 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $87.41, for a total value of $963,433.02. Following the completion of the sale, the director now directly owns 5,135 shares of the company’s stock, valued at approximately $448,850.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary D. Fields sold 20,641 shares of AAON stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $86.21, for a total transaction of $1,779,460.61. Following the completion of the transaction, the chief executive officer now directly owns 64,295 shares in the company, valued at $5,542,871.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.55% of the company’s stock.

Institutional Investors Weigh In On AAON

Several hedge funds have recently modified their holdings of the stock. Ellis Investment Partners LLC acquired a new stake in shares of AAON in the third quarter worth $230,000. State of Alaska Department of Revenue boosted its position in AAON by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 7,865 shares of the construction company’s stock worth $848,000 after acquiring an additional 530 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new stake in AAON during the 3rd quarter worth about $89,000. Private Advisor Group LLC purchased a new position in AAON during the 3rd quarter valued at about $251,000. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of AAON in the 3rd quarter valued at about $233,000. 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.