AAON (NASDAQ:AAON) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of AAON (NASDAQ:AAON) from a hold rating to a sell rating in a report released on Saturday.

Several other analysts also recently issued reports on the stock. William Blair reissued an “outperform” rating on shares of AAON in a research note on Tuesday, December 30th. Zacks Research raised shares of AAON from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AAON in a research report on Wednesday, October 8th. Finally, Oppenheimer reissued an “outperform” rating and set a $115.00 target price on shares of AAON in a research report on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $104.60.

AAON Stock Up 4.5%

AAON stock opened at $94.08 on Friday. The company has a current ratio of 3.04, a quick ratio of 2.03 and a debt-to-equity ratio of 0.42. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 77.75 and a beta of 1.08. The stock has a fifty day simple moving average of $85.08 and a two-hundred day simple moving average of $86.97. AAON has a 12 month low of $62.00 and a 12 month high of $137.90.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Thursday, November 6th. The construction company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. AAON had a return on equity of 12.52% and a net margin of 7.62%.The firm had revenue of $384.24 million for the quarter, compared to the consensus estimate of $337.20 million. During the same period last year, the business posted $0.63 EPS. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. Equities analysts predict that AAON will post 2.26 EPS for the current fiscal year.

AAON Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Wednesday, November 26th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Wednesday, November 26th. AAON’s dividend payout ratio is 33.06%.

Insiders Place Their Bets

In related news, Director Gary D. Fields sold 3,553 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $105.14, for a total transaction of $373,562.42. Following the completion of the sale, the director owned 26,340 shares in the company, valued at $2,769,387.60. The trade was a 11.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen E. Wakefield bought 4,141 shares of the stock in a transaction dated Friday, December 12th. The stock was bought at an average price of $77.59 per share, with a total value of $321,300.19. Following the acquisition, the executive vice president owned 15,212 shares in the company, valued at approximately $1,180,299.08. This represents a 37.40% increase in their position. The disclosure for this purchase is available in the SEC filing. 18.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in AAON by 96.5% during the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock worth $25,000 after acquiring an additional 164 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of AAON during the second quarter worth about $26,000. CBIZ Investment Advisory Services LLC acquired a new stake in AAON in the third quarter valued at approximately $26,000. Jones Financial Companies Lllp increased its stake in AAON by 59.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 378 shares of the construction company’s stock worth $34,000 after buying an additional 141 shares during the period. Finally, Danske Bank A S purchased a new position in AAON in the third quarter valued at about $47,000. 70.81% of the stock is currently owned by institutional investors and hedge funds.

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.