AAON (NASDAQ:AAON) Upgraded at StockNews.com

StockNews.com upgraded shares of AAON (NASDAQ:AAON) from a sell rating to a hold rating in a research report released on Friday morning.

A number of other equities research analysts have also issued reports on AAON. DA Davidson reissued a buy rating and set a $102.00 price target on shares of AAON in a research note on Wednesday, June 26th. William Blair began coverage on AAON in a research note on Monday, April 29th. They set an outperform rating for the company. Baird R W raised AAON to a hold rating in a research note on Wednesday, July 24th. Finally, Robert W. Baird raised their price target on AAON from $100.00 to $102.00 and gave the stock a neutral rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $102.00.

AAON Price Performance

NASDAQ:AAON opened at $85.78 on Friday. The firm has a market capitalization of $7.05 billion, a price-to-earnings ratio of 39.96 and a beta of 0.80. AAON has a 1 year low of $52.24 and a 1 year high of $96.34. The business has a 50 day simple moving average of $82.43 and a 200-day simple moving average of $81.88.

AAON (NASDAQ:AAON) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. AAON had a return on equity of 26.08% and a net margin of 15.60%. The firm had revenue of $313.57 million during the quarter, compared to analyst estimates of $283.77 million. During the same period last year, the company earned $0.55 EPS. AAON’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, analysts expect that AAON will post 2.24 earnings per share for the current fiscal year.

AAON Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.32 annualized dividend and a yield of 0.37%. AAON’s payout ratio is currently 14.91%.

Insiders Place Their Bets

In other AAON news, VP Stephen E. Wakefield sold 29,946 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $90.13, for a total transaction of $2,699,032.98. Following the transaction, the vice president now directly owns 15,670 shares in the company, valued at approximately $1,412,337.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Gary D. Fields sold 28,200 shares of AAON stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $76.13, for a total value of $2,146,866.00. Following the transaction, the chief executive officer now directly owns 64,295 shares in the company, valued at approximately $4,894,778.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Stephen E. Wakefield sold 29,946 shares of AAON stock in a transaction on Friday, July 12th. The shares were sold at an average price of $90.13, for a total value of $2,699,032.98. Following the completion of the transaction, the vice president now owns 15,670 shares in the company, valued at $1,412,337.10. The disclosure for this sale can be found here. Insiders have sold 71,646 shares of company stock worth $5,885,399 in the last ninety days. 18.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AAON. Raymond James & Associates increased its holdings in shares of AAON by 3.0% in the 4th quarter. Raymond James & Associates now owns 97,649 shares of the construction company’s stock valued at $7,213,000 after acquiring an additional 2,865 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in AAON during the 4th quarter worth $22,784,000. HBK Sorce Advisory LLC purchased a new position in AAON during the 4th quarter worth $240,000. Allspring Global Investments Holdings LLC grew its stake in AAON by 7.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 54,329 shares of the construction company’s stock worth $4,013,000 after buying an additional 3,869 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in AAON during the 4th quarter worth $200,000. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

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. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.