AAON, Inc. (AAON) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of AAON, Inc. (NASDAQ:AAON) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

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 strong-buy rating to a buy rating in a research report on Tuesday, June 20th.

AAON (NASDAQ:AAON) opened at 37.20 on Wednesday. AAON has a one year low of $25.33 and a one year high of $38.20. The stock’s 50 day moving average price is $36.65 and its 200 day moving average price is $35.12. The firm has a market capitalization of $1.96 billion, a PE ratio of 38.35 and a beta of 0.98.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Thursday, May 4th. The construction company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by $0.01. The business had revenue of $86.10 million during the quarter, compared to analyst estimates of $87.58 million. AAON had a net margin of 13.43% and a return on equity of 25.28%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.22 earnings per share. Analysts expect that AAON will post $1.08 EPS for the current year.

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The company also recently announced a semiannual dividend, which was paid on Friday, July 7th. Investors of record on Friday, June 9th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a yield of 0.73%. AAON’s dividend payout ratio (DPR) is currently 27.08%.

In related news, VP Scott M. Asbjornson sold 9,815 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $36.71, for a total transaction of $360,308.65. Following the sale, the vice president now owns 860,165 shares in the company, valued at $31,576,657.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 22.25% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its stake in shares of AAON by 93.7% in the first quarter. Public Employees Retirement System of Ohio now owns 105,665 shares of the construction company’s stock worth $3,735,000 after buying an additional 51,112 shares during the period. Macquarie Group Ltd. raised its stake in shares of AAON by 9.7% in the first quarter. Macquarie Group Ltd. now owns 994,468 shares of the construction company’s stock worth $35,154,000 after buying an additional 88,002 shares during the period. State Street Corp raised its stake in shares of AAON by 5.0% in the first quarter. State Street Corp now owns 948,660 shares of the construction company’s stock worth $33,531,000 after buying an additional 45,372 shares during the period. Bank of America Corp DE raised its stake in shares of AAON by 18.3% in the first quarter. Bank of America Corp DE now owns 273,748 shares of the construction company’s stock worth $9,677,000 after buying an additional 42,410 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of AAON by 9.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 170,348 shares of the construction company’s stock worth $6,022,000 after buying an additional 15,397 shares during the period. Hedge funds and other institutional investors own 65.97% of the company’s stock.

AAON Company Profile

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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