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 (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.
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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