AAON (NASDAQ:AAON) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of AAON (NASDAQ:AAON) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

Other research analysts have also issued research reports about the company. DA Davidson reiterated a buy rating and issued a $102.00 target price on shares of AAON in a research report on Wednesday, June 26th. Robert W. Baird boosted their target price on shares of AAON from $100.00 to $102.00 and gave the company a neutral rating in a research note on Friday, August 2nd. Finally, Baird R W raised shares of AAON to a hold rating in a report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $102.00.

AAON Trading Up 1.6 %

AAON opened at $104.05 on Friday. AAON has a 12-month low of $52.24 and a 12-month high of $104.73. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.99 and a quick ratio of 1.70. The stock has a market capitalization of $8.55 billion, a PE ratio of 48.40 and a beta of 0.80. The firm’s fifty day moving average price is $90.43 and its 200 day moving average price is $85.22.

AAON (NASDAQ:AAON) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. The business had revenue of $313.57 million for the quarter, compared to analysts’ expectations of $283.77 million. AAON had a net margin of 15.60% and a return on equity of 26.02%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.55 earnings per share. As a group, research analysts expect that AAON will post 2.29 EPS for the current fiscal year.

AAON Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.31%. The ex-dividend date is Friday, September 6th. AAON’s dividend payout ratio is presently 14.88%.

Insider Buying and Selling at AAON

In related news, Director Norman H. Asbjornson sold 11,022 shares of the 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 sale, the director now owns 5,135 shares of the company’s stock, valued at approximately $448,850.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other AAON news, CEO Gary D. Fields sold 20,641 shares of the business’s stock in a transaction 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 owns 64,295 shares in the company, valued at approximately $5,542,871.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Norman H. Asbjornson sold 11,022 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $87.41, for a total value of $963,433.02. Following the completion of the transaction, the director now directly owns 5,135 shares of the company’s stock, valued at approximately $448,850.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,609 shares of company stock worth $5,441,927. 18.55% of the stock is owned by insiders.

Institutional Investors Weigh In On AAON

Several institutional investors have recently bought and sold shares of the stock. TFO Wealth Partners LLC acquired a new position in AAON during the 4th quarter valued at about $27,000. ORG Partners LLC acquired a new position in shares of AAON during the second quarter valued at approximately $29,000. Crewe Advisors LLC acquired a new position in shares of AAON during the second quarter valued at approximately $35,000. Signaturefd LLC raised its holdings in AAON by 63.5% during the second quarter. Signaturefd LLC now owns 613 shares of the construction company’s stock worth $53,000 after purchasing an additional 238 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in AAON by 35.6% in the first quarter. GAMMA Investing LLC now owns 690 shares of the construction company’s stock worth $61,000 after purchasing an additional 181 shares during the period. Institutional investors and hedge funds own 70.81% of the company’s stock.

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.