AAON (NASDAQ:AAON) Rating Increased to Hold at StockNews.com

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

A number of other equities research analysts have also recently weighed in on AAON. Robert W. Baird upped 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. Baird R W upgraded shares of AAON to a hold rating in a research note on Wednesday, July 24th. William Blair initiated coverage on shares of AAON in a research note on Monday, April 29th. They issued an outperform rating on the stock. Finally, DA Davidson reiterated a buy rating and issued a $102.00 target price on shares of AAON in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $102.00.

AAON Trading Down 0.4 %

AAON stock opened at $85.47 on Friday. AAON has a 12-month low of $52.24 and a 12-month high of $96.34. The firm’s 50-day moving average price is $82.43 and its two-hundred day moving average price is $81.96. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of 39.55 and a beta of 0.80.

AAON (NASDAQ:AAON) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. AAON had a net margin of 15.60% and a return on equity of 26.08%. The company had revenue of $313.57 million for the quarter, compared to analysts’ expectations of $283.77 million. During the same quarter in the previous year, the company earned $0.55 earnings per share. AAON’s quarterly revenue was up 10.4% on a year-over-year basis. Equities analysts predict that AAON will post 2.24 EPS for the current year.

AAON Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.32 annualized dividend and a dividend yield of 0.37%. AAON’s payout ratio is 14.88%.

Insider Activity

In other news, CFO Rebecca Thompson sold 13,500 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $77.00, for a total transaction of $1,039,500.00. Following the sale, the chief financial officer now directly owns 17,297 shares in the company, valued at approximately $1,331,869. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AAON news, CEO Gary D. Fields sold 28,200 shares of AAON stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $76.13, for a total value of $2,146,866.00. Following the sale, the chief executive officer now directly owns 64,295 shares in the company, valued at approximately $4,894,778.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Rebecca Thompson sold 13,500 shares of AAON stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $77.00, for a total transaction of $1,039,500.00. Following the completion of the sale, the chief financial officer now owns 17,297 shares in the company, valued at $1,331,869. The disclosure for this sale can be found here. Insiders have sold 71,646 shares of company stock worth $5,885,399 in the last three months. Company insiders own 18.55% of the company’s stock.

Hedge Funds Weigh In On AAON

A number of institutional investors and hedge funds have recently made changes to their positions in AAON. TFO Wealth Partners LLC purchased a new position in shares of AAON during the 4th quarter worth about $27,000. ORG Partners LLC purchased a new position in shares of AAON during the 2nd quarter worth about $29,000. Crewe Advisors LLC purchased a new position in shares of AAON during the 2nd quarter worth about $35,000. GAMMA Investing LLC purchased a new position in shares of AAON during the 4th quarter worth about $36,000. Finally, Signaturefd LLC boosted its stake in shares of AAON by 63.5% during the 2nd quarter. Signaturefd LLC now owns 613 shares of the construction company’s stock worth $53,000 after purchasing an additional 238 shares during the period. 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.