AAON (NASDAQ:AAON) Downgraded by ValuEngine to “Hold”

ValuEngine lowered shares of AAON (NASDAQ:AAON) from a buy rating to a hold rating in a report published on Wednesday, ValuEngine reports.

A number of other research analysts have also weighed in on AAON. Zacks Investment Research upgraded AAON from a strong sell rating to a hold rating in a research report on Wednesday. BidaskClub lowered AAON from a buy rating to a hold rating in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. AAON presently has a consensus rating of Hold and a consensus target price of $40.50.

AAON stock traded up $1.25 during trading on Wednesday, reaching $45.29. The company’s stock had a trading volume of 149,258 shares, compared to its average volume of 135,284. AAON has a 1 year low of $31.55 and a 1 year high of $53.27. The company has a market capitalization of $2.39 billion, a P/E ratio of 55.91 and a beta of 0.97. The company’s fifty day moving average is $47.35 and its 200-day moving average is $47.63.

AAON (NASDAQ:AAON) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.06). AAON had a return on equity of 19.78% and a net margin of 11.01%. The business had revenue of $119.40 million during the quarter, compared to analysts’ expectations of $124.42 million. During the same quarter in the previous year, the company posted $0.22 EPS. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities analysts forecast that AAON will post 1.03 EPS for the current year.

In other news, VP Rony D. Gadiwalla sold 4,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $50.38, for a total transaction of $201,520.00. Following the completion of the transaction, the vice president now owns 31,934 shares in the company, valued at $1,608,834.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Scott M. Asbjornson sold 21,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $49.90, for a total value of $1,047,900.00. Following the transaction, the chief financial officer now owns 869,267 shares of the company’s stock, valued at approximately $43,376,423.30. The disclosure for this sale can be found here. Company insiders own 22.24% of the company’s stock.

Several large investors have recently made changes to their positions in AAON. Morgan Stanley lifted its holdings in shares of AAON by 352.2% in the 2nd quarter. Morgan Stanley now owns 213,273 shares of the construction company’s stock valued at $10,702,000 after acquiring an additional 166,112 shares during the last quarter. Nuveen Asset Management LLC bought a new position in shares of AAON in the 2nd quarter valued at about $8,304,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of AAON by 34.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 383,666 shares of the construction company’s stock valued at $19,252,000 after acquiring an additional 98,825 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of AAON by 0.8% in the 2nd quarter. BlackRock Inc. now owns 5,940,898 shares of the construction company’s stock valued at $298,114,000 after acquiring an additional 44,527 shares during the last quarter. Finally, Conestoga Capital Advisors LLC lifted its holdings in shares of AAON by 2.6% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,635,333 shares of the construction company’s stock valued at $82,061,000 after acquiring an additional 40,855 shares during the last quarter. 72.73% of the stock is owned by hedge funds and other institutional investors.

AAON Company Profile

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. It offers rooftop units, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, self-contained units, and coils.

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