AAON (NASDAQ:AAON) Cut to “Hold” at ValuEngine

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

Several other research analysts have also recently commented on the company. BidaskClub cut AAON from a buy rating to a hold rating in a research note on Saturday, November 23rd. Zacks Investment Research downgraded AAON from a hold rating to a sell rating in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. AAON has an average rating of Hold and an average price target of $40.50.

AAON stock opened at $47.58 on Tuesday. AAON has a 52-week low of $32.33 and a 52-week high of $53.27. The firm has a market cap of $2.57 billion, a PE ratio of 58.74 and a beta of 0.94. The company’s 50 day moving average is $48.92 and its two-hundred day moving average is $48.15.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.02). AAON had a return on equity of 19.11% and a net margin of 10.94%. The business had revenue of $113.50 million during the quarter, compared to analyst estimates of $126.84 million. During the same quarter last year, the firm earned $0.27 EPS. The business’s revenue was up .5% on a year-over-year basis. Analysts predict that AAON will post 0.99 EPS for the current year.

The company also recently announced a Semi-Annual dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a $0.16 dividend. The ex-dividend date is Tuesday, November 26th. AAON’s dividend payout ratio (DPR) is 39.51%.

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

Several hedge funds have recently modified their holdings of the stock. Squar Milner Financial Services LLC boosted its holdings in AAON by 931.3% in the third quarter. Squar Milner Financial Services LLC now owns 825 shares of the construction company’s stock valued at $37,000 after purchasing an additional 745 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in AAON in the third quarter valued at approximately $52,000. Nisa Investment Advisors LLC raised its holdings in AAON by 10.0% during the third quarter. Nisa Investment Advisors LLC now owns 3,300 shares of the construction company’s stock worth $152,000 after purchasing an additional 300 shares in the last quarter. HBK Sorce Advisory LLC acquired a new stake in AAON during the second quarter worth approximately $201,000. Finally, Stone Ridge Asset Management LLC purchased a new stake in shares of AAON during the 2nd quarter worth approximately $232,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

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. 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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