AAON Inc. (AAON) Coverage Initiated at Jefferies Group
Equities researchers at Jefferies Group started coverage on shares of AAON Inc. (NASDAQ:AAON) in a note issued to investors on Thursday. The brokerage set a “buy” rating and a $30.00 price target on the stock. Jefferies Group’s price objective points to a potential upside of 2.21% from the stock’s current price.
Separately, Zacks Investment Research raised AAON from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Monday, August 8th.
Shares of AAON (NASDAQ:AAON) opened at 29.35 on Thursday. The firm has a market cap of $1.55 billion, a PE ratio of 30.86 and a beta of 1.30. The stock’s 50 day moving average is $28.63 and its 200 day moving average is $27.53. AAON has a 12 month low of $19.06 and a 12 month high of $30.80.
AAON (NASDAQ:AAON) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. The business earned $102.30 million during the quarter, compared to the consensus estimate of $98.03 million. AAON had a return on equity of 27.11% and a net margin of 13.54%. The business’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.20 EPS. On average, analysts anticipate that AAON will post $1.00 earnings per share for the current fiscal year.
In related news, insider Rebecca Thompson sold 1,792 shares of AAON stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $28.00, for a total transaction of $50,176.00. Following the completion of the sale, the insider now owns 20,365 shares in the company, valued at approximately $570,220. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 24.91% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Rockefeller Financial Services Inc. boosted its stake in AAON by 2.6% in the second quarter. Rockefeller Financial Services Inc. now owns 394,236 shares of the company’s stock valued at $10,845,000 after buying an additional 9,994 shares during the period. Eagle Asset Management Inc. boosted its stake in AAON by 13.2% in the second quarter. Eagle Asset Management Inc. now owns 75,664 shares of the company’s stock valued at $2,081,000 after buying an additional 8,839 shares during the period. Capstone Asset Management Co. boosted its stake in AAON by 11.1% in the second quarter. Capstone Asset Management Co. now owns 14,661 shares of the company’s stock valued at $403,000 after buying an additional 1,460 shares during the period. BNP Paribas Arbitrage SA boosted its stake in AAON by 102.6% in the second quarter. BNP Paribas Arbitrage SA now owns 12,709 shares of the company’s stock valued at $350,000 after buying an additional 6,435 shares during the period. Finally, Royal Bank of Canada boosted its stake in AAON by 16.9% in the first quarter. Royal Bank of Canada now owns 5,585 shares of the company’s stock valued at $156,000 after buying an additional 806 shares during the period. Institutional investors own 58.82% of the company’s stock.
AAON Company Profile
AAON, Inc (AAON) is engaged in the manufacture and sale of air-conditioning and heating equipment. The Company’s products consist of rooftop units, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, self-contained units and coils.
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