AAON (NASDAQ:AAON) Upgraded to Strong-Buy at Zacks Research

AAON (NASDAQ:AAON) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other analysts also recently issued research reports about the company. William Blair restated an “outperform” rating on shares of AAON in a research note on Monday, March 2nd. DA Davidson reissued a “buy” rating and set a $120.00 target price on shares of AAON in a report on Tuesday, February 3rd. Oppenheimer restated an “outperform” rating on shares of AAON in a research report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of AAON in a research report on Wednesday, January 21st. Finally, Wall Street Zen upgraded AAON from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $107.75.

AAON Stock Down 5.7%

AAON stock opened at $133.66 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.75 and a current ratio of 2.62. The business’s 50-day simple moving average is $92.55 and its two-hundred day simple moving average is $91.63. The company has a market cap of $10.95 billion, a PE ratio of 93.47, a PEG ratio of 3.97 and a beta of 1.24. AAON has a fifty-two week low of $62.00 and a fifty-two week high of $149.00.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Thursday, May 7th. The construction company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.17. AAON had a return on equity of 13.67% and a net margin of 7.30%.The business had revenue of $496.94 million for the quarter, compared to the consensus estimate of $381.08 million. During the same quarter in the previous year, the business earned $0.37 EPS. The company’s quarterly revenue was up 54.3% compared to the same quarter last year. Equities analysts anticipate that AAON will post 2.23 EPS for the current year.

Insiders Place Their Bets

In other AAON news, insider Casey Kidwell sold 5,225 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $90.00, for a total transaction of $470,250.00. Following the transaction, the insider owned 12,662 shares of the company’s stock, valued at approximately $1,139,580. This trade represents a 29.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Rebecca Thompson sold 9,672 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $136.59, for a total value of $1,321,098.48. Following the transaction, the chief accounting officer directly owned 27,681 shares in the company, valued at approximately $3,780,947.79. The trade was a 25.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 46,790 shares of company stock worth $4,986,339. 18.09% of the stock is owned by insiders.

Hedge Funds Weigh In On AAON

A number of hedge funds and other institutional investors have recently made changes to their positions in AAON. PNC Financial Services Group Inc. boosted its holdings in AAON by 28.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,983 shares of the construction company’s stock valued at $661,000 after purchasing an additional 1,771 shares in the last quarter. Madison Asset Management LLC lifted its position in shares of AAON by 42.5% during the 1st quarter. Madison Asset Management LLC now owns 30,442 shares of the construction company’s stock valued at $2,519,000 after acquiring an additional 9,079 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new position in shares of AAON during the 1st quarter worth approximately $166,000. KBC Group NV raised its position in shares of AAON by 23.5% during the 1st quarter. KBC Group NV now owns 2,323 shares of the construction company’s stock worth $192,000 after purchasing an additional 442 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of AAON by 0.3% during the 1st quarter. Swiss National Bank now owns 137,125 shares of the construction company’s stock worth $11,347,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

AAON Company Profile

AAON, Inc (NASDAQ: AAON) is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company’s product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON’s core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.