Zacks Investment Research lowered shares of AAON, Inc. (NASDAQ:AAON) from a hold rating to a strong sell rating in a report released on Monday.

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 downgraded AAON from a buy rating to a hold rating in a research report on Monday, July 24th.

Shares of AAON (AAON) traded down $0.10 during trading on Monday, reaching $34.60. 180,383 shares of the company’s stock were exchanged, compared to its average volume of 136,052. AAON has a fifty-two week low of $27.90 and a fifty-two week high of $38.20. The company has a market capitalization of $1,820.00, a P/E ratio of 36.65, a PEG ratio of 2.37 and a beta of 1.00.

AAON (NASDAQ:AAON) last announced its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The firm had revenue of $113.67 million during the quarter, compared to analysts’ expectations of $111.76 million. AAON had a net margin of 12.77% and a return on equity of 23.17%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 EPS. sell-side analysts forecast that AAON will post 0.97 EPS for the current fiscal year.

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In related news, Director Jack E. Short sold 5,062 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $31.91, for a total transaction of $161,528.42. Following the completion of the sale, the director now owns 54,336 shares in the company, valued at $1,733,861.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 22.25% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC increased its position in AAON by 0.4% during the second quarter. Neuberger Berman Group LLC now owns 3,588,053 shares of the construction company’s stock worth $132,220,000 after buying an additional 13,725 shares during the period. Capital Analysts LLC acquired a new position in AAON during the second quarter worth approximately $121,000. Public Employees Retirement System of Ohio increased its position in AAON by 93.7% during 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. Bank of America Corp DE increased its position in AAON by 18.3% during 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, BlackRock Inc. increased its position in AAON by 132,761.8% during the first quarter. BlackRock Inc. now owns 4,753,796 shares of the construction company’s stock worth $168,047,000 after buying an additional 4,750,218 shares during the period. 65.60% of the stock is currently owned by institutional investors.

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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