BidaskClub Upgrades AAON (NASDAQ:AAON) to “Buy”

AAON (NASDAQ:AAON) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, BidAskClub reports.

AAON has been the topic of a number of other research reports. ValuEngine cut shares of AAON from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research raised shares of AAON from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $40.50.

Shares of AAON stock traded down $0.69 during trading hours on Friday, reaching $47.07. The stock had a trading volume of 105,768 shares, compared to its average volume of 183,814. AAON has a twelve month low of $31.56 and a twelve month high of $53.27. The firm has a 50-day simple moving average of $47.30 and a 200-day simple moving average of $47.83. The firm has a market capitalization of $2.49 billion, a PE ratio of 58.11 and a beta of 0.97.

AAON (NASDAQ:AAON) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.25 earnings per share 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 firm had revenue of $119.40 million during the quarter, compared to analyst estimates of $124.42 million. During the same period last year, the business earned $0.22 EPS. The firm’s revenue was up 8.9% on a year-over-year basis. Analysts predict 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 shares were 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 approximately $1,608,834.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 transaction 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. Corporate insiders own 22.24% of the company’s stock.

Several large investors have recently bought and sold shares of AAON. Nisa Investment Advisors LLC raised its position in AAON by 10.0% during the third quarter. Nisa Investment Advisors LLC now owns 3,300 shares of the construction company’s stock valued at $152,000 after acquiring an additional 300 shares in the last quarter. HBK Sorce Advisory LLC bought a new position in AAON during the second quarter valued at approximately $201,000. Stone Ridge Asset Management LLC bought a new position in AAON during the second quarter valued at approximately $232,000. Advisor Group Inc. raised its position in AAON by 4.7% during the second quarter. Advisor Group Inc. now owns 4,903 shares of the construction company’s stock valued at $246,000 after acquiring an additional 221 shares in the last quarter. Finally, HighTower Advisors LLC bought a new position in AAON during the second quarter valued at approximately $286,000. Institutional investors own 72.79% of the company’s stock.

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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