AAON (AAON) Downgraded by BidaskClub

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BidaskClub cut shares of AAON (NASDAQ:AAON) from a strong-buy rating to a buy rating in a research note issued to investors on Monday.

A number of other research firms have also recently commented on AAON. Zacks Investment Research upgraded AAON from a hold rating to a buy rating and set a $44.00 price target for the company in a report on Tuesday, March 20th. DA Davidson set a $32.00 price target on AAON and gave the stock a hold rating in a report on Friday, May 4th. Finally, ValuEngine upgraded AAON from a strong sell rating to a sell rating in a report on Friday, May 18th.

NASDAQ:AAON opened at $33.65 on Monday. The stock has a market capitalization of $1.76 billion, a P/E ratio of 35.26, a P/E/G ratio of 2.84 and a beta of 0.71. AAON has a 52-week low of $29.05 and a 52-week high of $40.25.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Thursday, May 3rd. The construction company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.17). AAON had a return on equity of 19.09% and a net margin of 11.61%. The business had revenue of $99.08 million for the quarter, compared to the consensus estimate of $94.12 million. During the same quarter in the previous year, the business posted $0.19 EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. research analysts expect that AAON will post 0.79 EPS for the current year.

The company also recently disclosed a Semi-Annual dividend, which will be paid on Friday, July 6th. Stockholders of record on Friday, June 8th will be issued a dividend of $0.16 per share. This represents a dividend yield of 1.02%. The ex-dividend date is Thursday, June 7th. This is a boost from AAON’s previous Semi-Annual dividend of $0.13. AAON’s payout ratio is currently 33.68%.

In other news, VP Scott M. Asbjornson sold 3,912 shares of the business’s stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $33.13, for a total transaction of $129,604.56. Following the completion of the sale, the vice president now owns 858,407 shares in the company, valued at $28,439,023.91. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Norman H. Asbjornson acquired 8,000 shares of AAON stock in a transaction dated Wednesday, May 16th. The shares were purchased at an average price of $29.67 per share, with a total value of $237,360.00. Following the acquisition, the chief executive officer now owns 9,130,225 shares of the company’s stock, valued at $270,893,775.75. The disclosure for this purchase can be found here. Insiders own 22.20% of the company’s stock.

Several large investors have recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in shares of AAON by 2.4% during the first quarter. Principal Financial Group Inc. now owns 309,465 shares of the construction company’s stock worth $12,069,000 after acquiring an additional 7,136 shares during the period. WINTON GROUP Ltd bought a new stake in shares of AAON during the first quarter worth approximately $408,000. Wesbanco Bank Inc. bought a new stake in shares of AAON during the first quarter worth approximately $1,754,000. Royal Bank of Canada boosted its holdings in shares of AAON by 16.7% during the first quarter. Royal Bank of Canada now owns 22,998 shares of the construction company’s stock worth $897,000 after acquiring an additional 3,292 shares during the period. Finally, Mariner LLC bought a new stake in shares of AAON during the first quarter worth approximately $202,000. Institutional investors own 69.07% of the company’s stock.

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. It offers rooftop units, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, self-contained units, and coils.

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