AAON, Inc. (NASDAQ:AAON) Rating Lowered to Strong Sell at Zacks Investment Research

AAON, Inc. (NASDAQ:AAON) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday, November 6th.

According to Zacks, “Aaon Inc. is a manufacturer of air-conditioning and heating equipment consisting of rooftop units, chillers, air-handling units, condensing units and coils. Its products serve the new construction and replacement markets. The Company has successfully gained market share through its semi-custom product lines, which offer the customer value, quality, function, serviceability and efficiency. “

Separately, BidaskClub lowered shares of AAON from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th.

AAON (AAON) traded up $0.15 during midday trading on Monday, reaching $35.85. 55,450 shares of the company’s stock were exchanged, compared to its average volume of 132,201. AAON has a 12 month low of $29.95 and a 12 month high of $38.20. The company has a market cap of $1,873.12, a PE ratio of 37.98, a price-to-earnings-growth ratio of 2.45 and a beta of 1.01.

AAON (NASDAQ:AAON) last announced its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). AAON had a net margin of 12.77% and a return on equity of 23.17%. The company had revenue of $113.67 million for the quarter, compared to analysts’ expectations of $111.76 million. During the same period last year, the business earned $0.29 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. sell-side analysts anticipate that AAON will post 0.97 EPS for the current year.

In related news, Director Jack E. Short sold 5,062 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $31.91, for a total value of $161,528.42. Following the completion of the transaction, the director now directly owns 54,336 shares of the company’s stock, valued at $1,733,861.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 22.25% of the company’s stock.

Several hedge funds have recently bought and sold shares of AAON. BlackRock Inc. lifted its position in AAON by 132,761.8% in the first quarter. BlackRock Inc. now owns 4,753,796 shares of the construction company’s stock worth $168,047,000 after buying an additional 4,750,218 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in AAON by 27.0% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,089,126 shares of the construction company’s stock worth $37,548,000 after buying an additional 231,786 shares during the last quarter. Conestoga Capital Advisors LLC lifted its position in AAON by 8.8% in the third quarter. Conestoga Capital Advisors LLC now owns 1,704,008 shares of the construction company’s stock worth $58,746,000 after buying an additional 137,691 shares during the last quarter. Vanguard Group Inc. lifted its position in AAON by 3.6% in the first quarter. Vanguard Group Inc. now owns 3,503,276 shares of the construction company’s stock worth $123,841,000 after buying an additional 121,814 shares during the last quarter. Finally, Wasatch Advisors Inc. lifted its position in AAON by 13.2% in the second quarter. Wasatch Advisors Inc. now owns 1,025,865 shares of the construction company’s stock worth $37,803,000 after buying an additional 119,468 shares during the last quarter. 66.44% of the stock is owned by hedge funds and other institutional investors.

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About AAON

AAON, Inc is engaged in the engineering, manufacturing, marketing and sale of air conditioning and heating equipment consisting of standard, semi-custom and custom rooftop units, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps and coils.

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