AAON (NASDAQ:AAON) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of AAON (NASDAQ:AAON) from a hold rating to a sell rating in a report published on Monday morning.

Several other research analysts also recently weighed in on AAON. Robert W. Baird increased their price target on shares of AAON from $100.00 to $102.00 and gave the stock a neutral rating in a research report on Friday, August 2nd. DA Davidson reaffirmed a buy rating and issued a $102.00 target price on shares of AAON in a report on Wednesday, June 26th. Finally, Baird R W upgraded AAON to a hold rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, AAON currently has a consensus rating of Hold and a consensus price target of $102.00.

AAON Stock Down 0.4 %

Shares of AAON stock opened at $88.92 on Monday. The company has a 50-day simple moving average of $88.62 and a two-hundred day simple moving average of $84.38. AAON has a 52-week low of $52.24 and a 52-week high of $96.55. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.70 and a current ratio of 2.99. The stock has a market capitalization of $7.31 billion, a PE ratio of 41.36 and a beta of 0.80.

AAON (NASDAQ:AAON) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. AAON had a return on equity of 26.02% and a net margin of 15.60%. The company had revenue of $313.57 million during the quarter, compared to the consensus estimate of $283.77 million. During the same period last year, the company earned $0.55 EPS. AAON’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, analysts anticipate that AAON will post 2.29 EPS for the current fiscal year.

AAON Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Friday, September 6th. AAON’s payout ratio is 14.88%.

Insider Activity at AAON

In other AAON news, VP Stephen E. Wakefield sold 29,946 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 15,670 shares in the company, valued at $1,412,337.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other AAON news, CEO Gary D. Fields sold 20,641 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $86.21, for a total transaction of $1,779,460.61. Following the completion of the sale, the chief executive officer now owns 64,295 shares in the company, valued at $5,542,871.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Stephen E. Wakefield sold 29,946 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 15,670 shares in the company, valued at approximately $1,412,337.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,609 shares of company stock worth $5,441,927. Company insiders own 18.55% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. New York State Common Retirement Fund lifted its holdings in shares of AAON by 1.9% during the fourth quarter. New York State Common Retirement Fund now owns 27,200 shares of the construction company’s stock worth $2,009,000 after purchasing an additional 496 shares during the period. Russell Investments Group Ltd. lifted its stake in AAON by 3.4% during the 4th quarter. Russell Investments Group Ltd. now owns 34,729 shares of the construction company’s stock valued at $2,565,000 after acquiring an additional 1,129 shares during the period. Van ECK Associates Corp boosted its holdings in shares of AAON by 45.2% in the 4th quarter. Van ECK Associates Corp now owns 20,586 shares of the construction company’s stock valued at $1,521,000 after acquiring an additional 6,409 shares during the last quarter. Natixis Advisors L.P. increased its stake in shares of AAON by 394.1% in the fourth quarter. Natixis Advisors L.P. now owns 67,300 shares of the construction company’s stock worth $4,970,000 after acquiring an additional 53,679 shares during the period. Finally, TCG Advisory Services LLC acquired a new stake in shares of AAON in the fourth quarter worth $208,000. 70.81% of the stock is owned by institutional investors and hedge funds.

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.